6-Unit Apartment
13-23 B St, Northbridge, MA 01588
For Sale
$965,000
Each two-bedroom unit has its own basement, with off-street parking provided on site.
Property Size4,493 SF
Price / SF$214.78
Days on Market20
Property Features for 13-23 B St
General Information
Standard status
Size
Property subtype
Zoning
Occupancy
Additional Details
Highway Access
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
6
No
8
12
Public Record
4493
Public
0.32
10
Paved Drive,Off Street
Paved
Other
Public Maintained Road
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
The Neighborhood Realty Group
Listed By:
Jackie Painchaud
Source:
Jrpierre
Added: Oct 21
Changed: Nov 7
Last Checked: Nov 8 at 6:02PM
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 The Neighborhood Realty Group
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Investment Insights
Based on property information with market context.
This 4,493-square-foot apartment property in Northbridge contains six units, each arranged with a kitchen and living area on the first floor and two bedrooms plus a full bathroom upstairs. Every apartment also includes a private basement. The building dates to 1900 and sits on a 0.32-acre parcel zoned R5. Several apartments have received updates in recent years, and several oil tanks are newer. Off-street parking is available.
The property is fully occupied and located near Route 146 and area shopping. Tenants pay their own utilities except for water and sewer, which are not tenant-paid.
The property is fully occupied and located near Route 146 and area shopping. Tenants pay their own utilities except for water and sewer, which are not tenant-paid.
Key Highlights
- Six two‑bedroom apartments, each with a private basement
- 4,493 square feet on a 0.32‑acre parcel
- R5 zoning; building constructed in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,856
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,057,120
$1.1M
Cap Rate 7%
$755,086
$755.1K
Cap Rate 9%
$587,289
$587.3K
Market Conditions
NOI Build-Up for 4,493 SF
Gross rent
$98.7K $21.96/SF
− Vacancy
−$2.6K −$0.57/SF
EGI
$96.1K $21.39/SF
− OpEx
−$43.2K −$9.63/SF
NOI
$52.9K $11.76/SF
Area
Worcester County, MA
Vacancy
2.60%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,057,120
Cap Rate 7%
$755,086
Cap Rate 9%
$587,289
Alternative Uses
Best Use
Apartment 5plus
$755.1K
$660.7K – $880.9K
NOI $52,856 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,401 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
125
Businesses Nearby
Explore this area
Business Placement
Demographics for 01588, MA
10,106
Population
4,553
Households
2.2
Avg Household Size
42
Median Age
31%
College-Educated
94%
High-School Grad
8.1 sq mi
ZIP Area
1,248
Density / Sq Mi
$88,735
Median Household Income
$50,855
Median Earnings
$1,263
Median Rent
$413,600
Median Home Value
Market
Average Price Trend$/SF for Apartment buildings in Worcester County, MA
Properties on Market for Apartment buildings in Worcester County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Each two-bedroom unit has its own basement, with off-street parking provided on site.
Where is this apartment building located?
The property is located at 13-23 B St Northbridge, MA.
What is the asking price?
The asking price for this property is $965,000.
What are key features of this property?
This property features: Six two‑bedroom apartments, each with a private basement; 4,493 square feet on a 0.32‑acre parcel; R5 zoning; building constructed in 1900
