Well-Maintained Three-Family
For Sale
$609,900
Pending
264 Weld St, New Bedford, MA 02740
Three-family home in New Bedford with driveway and backyard.
Property Size3,348 SF
Days on Market99
Property Features for 264 Weld St
General Information
Standard status
Pending
Size
3,348 SF
Property subtype
Investment
Building Details
Year Built
1909
Listing Agency:
(508) 807-8012
Listed By:
Adam Walorz
(508) 807-8012
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 30 at 11:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Adam Walorz
Investment Insights
Based on property information with market context.
This well-maintained, three-family home is located in New Bedford. The property features 3,348 square feet of living space. Each of the three units includes three bedrooms. The apartments feature hardwood floors, tiled bathrooms, and sun-filled bedrooms. The property includes driveway parking for multiple cars and a private green backyard. It is conveniently located minutes from shopping, dining, convenience stores, St Luke’s Hospital, and highway access. The property's location has a walk score of 89, indicating it is very walkable, a bike score of 48, indicating it is somewhat bikeable, and a transit score of 37, indicating some transit options are available.
Key Highlights
- Large 3‑Family Home: 3348 sq ft with three 3‑bedroom apartments.
- Prime Location: Close to shopping, dining, St Luke's Hospital, and highway access.
- Off‑Street Parking: Driveway parking for multiple cars.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $74.3k | $22.20 |
| − Vacancy | −$5.6k | −$1.67 |
| EGI | $68.8k | $20.54 |
| − OpEx | −$20.6k | −$6.16 |
| NOI | $48.1k | $14.37 |
3,348 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$687.5K
$601.6K – $802.1K
NOI $48,126 @ 7.0% cap · market cap 7.89%
Second Best
Apartment 5plus
$631.2K
$552.3K – $736.4K
NOI $44,183 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$987.2K
$863.8K – $1.15M
NOI $69,103 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
Explore this area
Business Placement
Demographics for 02740, MA
45,166
Population
20,532
Households
2.2
Avg Household Size
39
Median Age
18%
College-Educated
77%
High-School Grad
5.7 sq mi
ZIP Area
7,924
Density / Sq Mi
$54,563
Median Household Income
$39,310
Median Earnings
$1,052
Median Rent
$303,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family home in New Bedford with driveway and backyard.
Where is this triplex located?
The property is located at 264 Weld St New Bedford, MA.
What is the asking price?
The asking price for this property is $609,900.
What are key features of this property?
This property features: Large 3‑Family Home: 3348 sq ft with three 3‑bedroom apartments.; Prime Location: Close to shopping, dining, St Luke's Hospital, and highway access.; Off‑Street Parking: Driveway parking for multiple cars.
