Multifamily Triplex with Two Renovated
131 Center Street Lee, MA 01238
131 Center Street, Lee, MA, 01238
$469,900
For Sale
$469,900
Three two-bedroom apartments, including two recently renovated units with new kitchens, updated baths, fresh flooring, and paint.
Property Size2,346 SF
Price / SF$200.30
Days on Market163
Property Features for 131 Center Street
General Information
- Standard status
- Active
- Size
- 2,346 SF
- Property subtype
- MultiFamily / 3 Family - 3 Units Side by Side
Building Details
- Year Built
- 1910
Listing agency
KEMPF-VANDERBURGH REALTY CONSULTANTS, INC.
(413) 281-2835
Listed by
Maria Liccardi · License #009540784
(413) 281-2835
Source
Compass
Added: Feb 8 Updated: Jul 21 at 1:21PM Checked: Jul 21 at 1:21PM
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 KEMPF-VANDERBURGH REALTY CONSULTANTS, INC.
Investment Insights
Based on property information with market context.
This multifamily triplex includes three two-bedroom apartments. One unit is currently rented, while the other two units are vacant and have been recently renovated with new kitchens featuring quartz countertops, updated bathrooms, new Lifeproof flooring, new carpeting, and fresh painting. Each unit has its own laundry hookups, and the two renovated apartments include Lead Paint compliance certificates.
The building offers both a front porch and a side porch. Improvements include vinyl siding and vinyl replacement windows, along with natural gas heat and hot water. The property is served by town water and sewer, and the electric service riser cable is new. A newer Burnham steam boiler is also in place.
The building offers both a front porch and a side porch. Improvements include vinyl siding and vinyl replacement windows, along with natural gas heat and hot water. The property is served by town water and sewer, and the electric service riser cable is new. A newer Burnham steam boiler is also in place.
Key Highlights
- Multifamily home with 3 two‑bedroom apartments (1 rented; 2 vacant and recently renovated)
- Renovations in 2 units include new kitchens with quartz countertops, updated bathrooms, new lifeproof flooring, new carpeting, and fresh painting
- Each unit has its own laundry hookups; includes refrigerator and range
Local Financial Insights For Multifamily LT 5
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 | $50.7k | $21.60 |
| − Vacancy | −$674 | −$0.29 |
| EGI | $50.0k | $21.31 |
| − OpEx | −$15.0k | −$6.39 |
| NOI | $35.0k | $14.92 |
2,346 SF · lease $21.60/SF/yr · vacancy 1.33% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$500.0K
$437.5K – $583.3K
NOI $35,000 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$458.0K
$400.8K – $534.3K
NOI $32,060 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$686.9K
$601.1K – $801.4K
NOI $48,084 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Three two-bedroom apartments, including two recently renovated units with new kitchens, updated baths, fresh flooring, and paint.
Where is this triplex located?
The property is located at 131 Center Street Lee, MA.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Multifamily home with 3 two‑bedroom apartments (1 rented; 2 vacant and recently renovated); Renovations in 2 units include new kitchens with quartz countertops, updated bathrooms, new lifeproof flooring, new carpeting, and fresh painting; Each unit has its own laundry hookups; includes refrigerator and range
