Vacant Three-Unit Multifamily
For Sale
$530,000
1272 Pleasant St, New Bedford, MA 02740
Residential Income, New Bedford, MA
Property Size1,842 SF
Lot Size0.08 Acres
Price / SF$287.73
Days on Market47
Property Features for 1272 Pleasant St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MUB
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 1
Directions
Please use GPS
Standard status
Active
APN
M:0072 L:0029,2895190
Size
1,842 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4351
Building Details
Year built
1890
Floors in Building
3
Number of units
3
Listing Agency:
RE/MAX Vantage · RE/MAX International
(774) 992-0297
Listed By:
Eddie Lopez
(508) 999-4424
Added: Jul 13
Changed: Aug 27
Last Checked: Aug 28 at 7:06PM
MLS# 73548845
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-unit multifamily property is fully vacant and offers a consistent layout across the building, with two bedrooms and one bathroom in each apartment. The 1,842-square-foot structure dates to 1890 and includes maintenance-free vinyl siding, three brand-new boilers, updated electrical and plumbing systems, and a camera security system.
The 0.0796-acre parcel has a paved yard and may accommodate a full driveway with a curb cut. The property is located on Pleasant Street in New Bedford, near the train station, highway access, shopping, and restaurants. MUB zoning is identified for the site, and the vacant configuration allows an owner-occupant or new ownership to establish its own tenancy plan.
The 0.0796-acre parcel has a paved yard and may accommodate a full driveway with a curb cut. The property is located on Pleasant Street in New Bedford, near the train station, highway access, shopping, and restaurants. MUB zoning is identified for the site, and the vacant configuration allows an owner-occupant or new ownership to establish its own tenancy plan.
Key Highlights
- Three fully vacant apartments, each with 2 bedrooms and 1 bathroom
- 1,842 square feet on a 0.0796‑acre parcel
- Three brand‑new boilers plus updated electrical and plumbing
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,478
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$529,560
$529.6K
Cap Rate 7%
$378,257
$378.3K
Cap Rate 9%
$294,200
$294.2K
Market Conditions
NOI Build-Up for 1,842 SF
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.
Gross rent
$40.9K $22.20/SF
− Vacancy
−$3.1K −$1.67/SF
EGI
$37.8K $20.54/SF
− OpEx
−$11.3K −$6.16/SF
NOI
$26.5K $14.37/SF
Area
New Bedford, MA
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$529,560
Cap Rate 7%
$378,257
Cap Rate 9%
$294,200
Alternative Uses
Best Use
Multifamily LT 5
$378.3K
$331.0K – $441.3K
NOI $26,478 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$347.3K
$303.9K – $405.1K
NOI $24,308 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$543.1K
$475.2K – $633.7K
NOI $38,019 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
667
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 - Vacant multifamily building with updated systems, flexible occupancy options, and a paved yard.
Where is this triplex located?
The property is located at 1272 Pleasant St New Bedford, MA.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Three fully vacant apartments, each with 2 bedrooms and 1 bathroom; 1,842 square feet on a 0.0796‑acre parcel; Three brand‑new boilers plus updated electrical and plumbing
