Three-Family Residential
For Sale
$529,900
32 Franklin St, New Bedford, MA 02740
Nearly 3,000 SF three-family home offers two three-bedroom units plus one two-bedroom unit with walk-up attic space.
Property Size3,000 SF
Price / SF$176.63
Days on Market99
Property Features for 32 Franklin St
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
1912
Stories
3
Tenancy
Multi
Listing Agency:
(774) 304-2198
Listed By:
Lily Bertoncini
(774) 304-2198
Source:
Elliman
Added: Apr 24
Changed: Jul 20
Last Checked: Jul 30 at 11:03AM
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 Lily Bertoncini
Investment Insights
Based on property information with market context.
This nearly 3,000 SF three-family home is newly offered and positioned for long-term ownership. The property features a maintenance-free exterior with vinyl siding and includes three levels with two three-bedroom apartments and one two-bedroom apartment. Each unit is fully applianced and includes hardwood floors and tile bathroom finishes, with sun-filled bedrooms and practical floor plans.
Additional space includes walk-up attic access for all three units. A finished basement and a private green backyard add further utility for everyday use.
The configuration allows for flexible possibilities, including the option to convert the layout to a fourth unit or a top-level townhouse, subject to applicable requirements. The home also presents as a straightforward residential income asset with multiple bedroom configurations and on-site storage and expansion space via the attics.
Additional space includes walk-up attic access for all three units. A finished basement and a private green backyard add further utility for everyday use.
The configuration allows for flexible possibilities, including the option to convert the layout to a fourth unit or a top-level townhouse, subject to applicable requirements. The home also presents as a straightforward residential income asset with multiple bedroom configurations and on-site storage and expansion space via the attics.
Key Highlights
- Nearly 3,000 SF 3‑family home (built 1912) with 4 bathrooms
- Unit mix: two 3‑bedroom apartments and one 2‑bedroom apartment, all fully applianced
- Walk‑up attic space with potential to make 4 units or a top‑unit townhouse (buyer to verify)
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 | $66.6k | $22.20 |
| − Vacancy | −$5.0k | −$1.67 |
| EGI | $61.6k | $20.54 |
| − OpEx | −$18.5k | −$6.16 |
| NOI | $43.1k | $14.37 |
3,000 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$616.1K
$539.1K – $718.7K
NOI $43,124 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$565.6K
$494.9K – $659.8K
NOI $39,590 @ 7.0% cap · market cap 7.47%
Theoretical Best
Office A
$884.6K
$774.0K – $1.03M
NOI $61,920 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
979
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Nearly 3,000 SF three-family home offers two three-bedroom units plus one two-bedroom unit with walk-up attic space.
Where is this triplex located?
The property is located at 32 Franklin St New Bedford, MA.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: Nearly 3,000 SF 3‑family home (built 1912) with 4 bathrooms; Unit mix: two 3‑bedroom apartments and one 2‑bedroom apartment, all fully applianced; Walk‑up attic space with potential to make 4 units or a top‑unit townhouse (buyer to verify)
