Ten-Unit Brick Apartment
For Sale
$2,030,000
4 Davis St, Shirley, MA 01464
Fully tenanted 10-unit brick multifamily property with a mix of one-, two-, and three-bedroom apartments.
Property Size7,256 SF
Lot Size0.27 Acres
Price / SF$279.77
Days on Market97
Property Features for 4 Davis St
General Information
Standard status
Active
Size
7,256 SF
Lot size
0.27 Acres
Property subtype
Investment
Additional Details
Multifamily Units
10
Building Details
Year Built
1885
Construction
brick
Listing Agency:
Northeast Private Client Group | Greater Boston
(413) 896-3060
Listed By:
James Casey · License #9552789
(413) 896-3060
Source:
Elliman
Added: Apr 28
Changed: Jul 23
Last Checked: Jul 24 at 11:48AM
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 Northeast Private Client Group | Greater Boston
Investment Insights
Based on property information with market context.
The Davis Street Apartments is a fully tenanted, income-generating 10-unit brick apartment building. The property includes approximately 7,256 square feet of finished living space across eight one-bedroom units, one two-bedroom unit, and one three-bedroom unit. The building sits on a 0.27-acre lot.
Located at 4 Davis Street in Shirley, Massachusetts, the asset is described as being in the heart of Shirley. WalkScore is 45 (car-dependent) and bikeScore is 37 (somewhat bikeable). Prospective buyers can tour the building by scheduled appointment.
This is a straightforward small multifamily offering with a defined unit mix—predominantly one-bedroom apartments—with additional two- and three-bedroom units as part of the 10-unit configuration.
Located at 4 Davis Street in Shirley, Massachusetts, the asset is described as being in the heart of Shirley. WalkScore is 45 (car-dependent) and bikeScore is 37 (somewhat bikeable). Prospective buyers can tour the building by scheduled appointment.
This is a straightforward small multifamily offering with a defined unit mix—predominantly one-bedroom apartments—with additional two- and three-bedroom units as part of the 10-unit configuration.
Key Highlights
- Fully tenanted 10‑unit multifamily property at 4 Davis Street in Shirley, MA.
- Brick apartment building offers approx. 7,256 SF of finished living space across 10 units.
- Unit mix includes eight 1‑bedroom units, one 2‑bedroom unit, and one 3‑bedroom unit.
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 | $276.9k | $38.16 |
| − Vacancy | −$14.4k | −$1.98 |
| EGI | $262.5k | $36.18 |
| − OpEx | −$118.1k | −$16.28 |
| NOI | $144.4k | $19.90 |
7,256 SF · lease $38.16/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.06M
$1.80M – $2.41M
NOI $144,370 @ 7.0% cap · market cap 7.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.30M
$3.76M – $5.01M
NOI $300,687 @ 7.0% cap · market cap 14.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
237
Businesses Nearby
Explore this area
Business Placement
Demographics for 01464, MA
7,427
Population
2,512
Households
3
Avg Household Size
43
Median Age
36%
College-Educated
90%
High-School Grad
15.1 sq mi
ZIP Area
492
Density / Sq Mi
$121,875
Median Household Income
$73,721
Median Earnings
$1,189
Median Rent
$412,700
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?
Apartment building - Fully tenanted 10-unit brick multifamily property with a mix of one-, two-, and three-bedroom apartments.
Where is this apartment building located?
The property is located at 4 Davis St Shirley, MA.
What is the asking price?
The asking price for this property is $2,030,000.
What are key features of this property?
This property features: Fully tenanted 10‑unit multifamily property at 4 Davis Street in Shirley, MA.; Brick apartment building offers approx. 7,256 SF of finished living space across 10 units.; Unit mix includes eight 1‑bedroom units, one 2‑bedroom unit, and one 3‑bedroom unit.
