Four-Unit Rental
For Sale
$1,150,000
Pending
9-11 Bassett Street, Lowell, MA 01852
Four-unit rental property with ample parking and fully separated gas and electric utilities.
Property Size3,604 SF
Days on Market41
Property Features for 9-11 Bassett Street
General Information
Standard status
Pending
Size
3,604 SF
Total Parking Spaces
8
Property subtype
Multifamily
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$9,158
Building Details
Building Size
3,604 SF
Year Built
1900
Listing Agency:
Keynova Group LLC
(413) 717-0635
Listed By:
Brendan Conley
Source:
Classifiedrealtygroup
Added: Jul 16
Changed: Aug 23
Last Checked: Jul 26 at 3:01AM
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 Keynova Group LLC
Investment Insights
Based on property information with market context.
This four-unit rental property offers ample parking and a practical utility setup with fully separated gas and electric services for the units.
The property is positioned for convenient access to major routes, with easy connectivity to Route 3 and 495. It is also described as being close to Downtown and the Lowell Connector, with access to shopping, restaurants and grocery, educational institutions, public transportation, and other nearby amenities.
The offering is presented as a residential income multifamily asset suited for an investor seeking a straightforward, separately metered configuration.
The property is positioned for convenient access to major routes, with easy connectivity to Route 3 and 495. It is also described as being close to Downtown and the Lowell Connector, with access to shopping, restaurants and grocery, educational institutions, public transportation, and other nearby amenities.
The offering is presented as a residential income multifamily asset suited for an investor seeking a straightforward, separately metered configuration.
Key Highlights
- Four‑unit rental property with ample parking
- Year built: 1900
- Fully separated gas and electric utilities
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
$64,290
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
5.59%
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%
$1,285,800
$1.3M
Cap Rate 7%
$918,429
$918.4K
Cap Rate 9%
$714,333
$714.3K
Market Conditions
NOI Build-Up for 3,604 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
$125.4K $34.80/SF
− Vacancy
−$8.5K −$2.37/SF
EGI
$116.9K $32.43/SF
− OpEx
−$52.6K −$14.60/SF
NOI
$64.3K $17.84/SF
Area
Lowell, MA
Vacancy
6.80%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,285,800
Cap Rate 7%
$918,429
Cap Rate 9%
$714,333
Alternative Uses
Best Use
Apartment 5plus
$918.4K
$803.6K – $1.07M
NOI $64,290 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,793 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,794
Businesses Nearby
Explore this area
Business Placement
Demographics for 01852, MA
36,708
Population
15,363
Households
2.4
Avg Household Size
37
Median Age
33%
College-Educated
86%
High-School Grad
5.0 sq mi
ZIP Area
7,342
Density / Sq Mi
$77,058
Median Household Income
$48,976
Median Earnings
$1,567
Median Rent
$397,200
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?
Multifamily property - Four-unit rental property with ample parking and fully separated gas and electric utilities.
Where is this multifamily property located?
The property is located at 9-11 Bassett Street Lowell, MA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Four‑unit rental property with ample parking; Year built: 1900; Fully separated gas and electric utilities
