Corner Four-Unit
For Sale
$949,999
Pending
165 University Ave, Lowell, MA 01854
Four-unit property with three move-in ready vacancies, updated interiors, and a detached garage on a corner lot.
Property Size3,738 SF
Days on Market40
Property Features for 165 University Ave
General Information
Standard status
Pending
Size
3,738 SF
Total Parking Spaces
1
Property subtype
Residential Income
Zoning
TMU
Taxes and HOA fees
Annual Taxes
$8,558
Building Details
Building Size
3,738 SF
Year Built
1880
Stories
3
Units
4
Listing Agency:
Alvarez Real Estate Group LLC
(617) 329-9493
Listed By:
Michael Alvarez · License #452508574
(617) 329-9493
Source:
Housatonicrealestate
Added: Jul 17
Changed: Aug 23
Last Checked: Aug 1 at 8:32AM
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 Alvarez Real Estate Group LLC
Investment Insights
Based on property information with market context.
This four-unit multifamily property is situated on a corner lot and includes a mix of two (2) 3-bedroom/1-bath apartments and two (2) 1-bedroom/1-bath apartments. Three of the four units are delivered vacant and move-in ready, supporting straightforward leasing or owner-occupancy.
Recent capital improvements include a new roof (2026), refinished hardwood floors, and a renovated second-floor unit with new cabinetry and granite countertops. On-site amenities feature a Speed Queen coin-operated laundry system, and there is also a detached garage.
The property is conveniently located near UMass Lowell, downtown, major highways, shopping, and restaurants in Lowell’s Pawtucketville neighborhood.
Recent capital improvements include a new roof (2026), refinished hardwood floors, and a renovated second-floor unit with new cabinetry and granite countertops. On-site amenities feature a Speed Queen coin-operated laundry system, and there is also a detached garage.
The property is conveniently located near UMass Lowell, downtown, major highways, shopping, and restaurants in Lowell’s Pawtucketville neighborhood.
Key Highlights
- Four‑unit multifamily built in 1880 on a corner lot
- Unit mix: 2 two 3BD/1BA units and 2 two 1BD/1BA units
- Three units delivered vacant and move‑in ready
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
$74,063
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
7.80%
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%
$1,481,260
$1.5M
Cap Rate 7%
$1,058,043
$1.1M
Cap Rate 9%
$822,922
$822.9K
Market Conditions
NOI Build-Up for 3,738 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
$114.4K $30.60/SF
− Vacancy
−$8.6K −$2.30/SF
EGI
$105.8K $28.31/SF
− OpEx
−$31.7K −$8.49/SF
NOI
$74.1K $19.81/SF
Area
Lowell, MA
Vacancy
7.50%
Lease Rate
$30.60 /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%
$1,481,260
Cap Rate 7%
$1,058,043
Cap Rate 9%
$822,922
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$925.8K – $1.23M
NOI $74,063 @ 7.0% cap · market cap 7.80%
Second Best
Apartment 5plus
$952.6K
$833.5K – $1.11M
NOI $66,680 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$1.32M
$1.15M – $1.53M
NOI $92,095 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
617
Businesses Nearby
Explore this area
Business Placement
Demographics for 01854, MA
29,561
Population
10,960
Households
2.7
Avg Household Size
31
Median Age
30%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
7,390
Density / Sq Mi
$70,397
Median Household Income
$39,216
Median Earnings
$1,477
Median Rent
$360,500
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?
Quadplex - Four-unit property with three move-in ready vacancies, updated interiors, and a detached garage on a corner lot.
Where is this quadplex located?
The property is located at 165 University Ave Lowell, MA.
What is the asking price?
The asking price for this property is $949,999.
What are key features of this property?
This property features: Four‑unit multifamily built in 1880 on a corner lot; Unit mix: 2 two 3BD/1BA units and 2 two 1BD/1BA units; Three units delivered vacant and move‑in ready
