Multifamily Property with Multiple
172 Washington Street Pembroke, MA 02359
172 Washington Street, Pembroke, MA, 02359
$3,000,000
For Sale
$3,000,000
Multifamily offering 10 buildings with 11 rental units plus additional cottage and guest house accommodations.
Property Size11,000 SF
Lot Size7.00 Acres
Price / SF$272.73
Days on Market640
Property Features for 172 Washington Street
General Information
- Standard status
- Active
- Size
- 11,000 SF
- Lot size
- 7.00 Acres
- Property subtype
- Multi-family / 5-9 Family
Building Details
- Year Built
- 1980
Listing agency
Success! Real Estate
(781) 848-9064
Listed by
Cody Rohland · License #9557400
(781) 848-9064
Source
Compass
Added: Oct 21, 2024 Updated: Jul 21 at 11:22PM Checked: Jul 21 at 11:22PM
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 Success! Real Estate
Investment Insights
Based on property information with market context.
This multifamily property is set on 7 acres and includes 10 buildings containing 11 rental units. Unit configurations feature multiple 1-bedroom/1-bath apartments, with decks and in-building laundry available in several units. The site also includes a freestanding 2-bedroom/1-bath cottage with a deck, along with a separate guest house with a kitchen, bath, and balcony.
The grounds are supported by extensive outdoor improvements, including three large barns, a Victorian stained-glass gazebo, a party piazza, a below-grade greenhouse, and multiple goldfish pools. The property further features five botanical garden rooms with more than 5,000 plants, with a cistern pump irrigation system supporting the gardens. Surrounding the property is a 73-acre nature preserve with trails, a pond, tidal estuary, beaches, river access, and four fields suitable for animal grazing or crops.
The combination of multiple income buildings and on-site amenities provides a self-contained residential compound in Pembroke, Massachusetts.
The grounds are supported by extensive outdoor improvements, including three large barns, a Victorian stained-glass gazebo, a party piazza, a below-grade greenhouse, and multiple goldfish pools. The property further features five botanical garden rooms with more than 5,000 plants, with a cistern pump irrigation system supporting the gardens. Surrounding the property is a 73-acre nature preserve with trails, a pond, tidal estuary, beaches, river access, and four fields suitable for animal grazing or crops.
The combination of multiple income buildings and on-site amenities provides a self-contained residential compound in Pembroke, Massachusetts.
Key Highlights
- 10 buildings with 11 total rental units plus a freestanding 2‑bed/1‑bath cottage and a 1‑bed/1‑bath guest house
- Set on 7 acres, surrounded by a 73‑acre nature preserve with trails, pond/tidal estuary, beaches, and river access
- Exterior includes scenic pond/river/stream features, public beach ownership, and waterfront elements including a lake/pond and stream
Local Financial Insights For Apartment 5plus
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 | $330.0k | $30.00 |
| − Vacancy | −$18.5k | −$1.68 |
| EGI | $311.5k | $28.32 |
| − OpEx | −$140.2k | −$12.74 |
| NOI | $171.3k | $15.58 |
11,000 SF · lease $30.00/SF/yr · vacancy 5.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.45M
$2.14M – $2.86M
NOI $171,336 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.51M
$5.70M – $7.60M
NOI $455,837 @ 7.0% cap · market cap 15.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
200 Roctronics park
Apartment Building
N.F. DiPace Masonry
General Contractor
Da Silva Laura ...
Accounting Firm
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FAQs
What type of property is this?
Apartment building - Multifamily offering 10 buildings with 11 rental units plus additional cottage and guest house accommodations.
Where is this apartment building located?
The property is located at 172 Washington Street Pembroke, MA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 10 buildings with 11 total rental units plus a freestanding 2‑bed/1‑bath cottage and a 1‑bed/1‑bath guest house; Set on 7 acres, surrounded by a 73‑acre nature preserve with trails, pond/tidal estuary, beaches, and river access; Exterior includes scenic pond/river/stream features, public beach ownership, and waterfront elements including a lake/pond and stream
