6-Unit Apartment
131 Chestnut St, New Bedford, MA 02740
For Sale
$799,900
The fully occupied property has a record of consistent tenant history.
Property Size3,738 SF
Price / SF$213.99
Days on Market10
Property Features for 131 Chestnut St
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Multifamily Units
Tenant in Place
Building Details
Year Built
Listing Agency:
Conway - Dartmouth
(508) 993-2700
Listed By:
Glenn Rapoza · License MA #451500166
(508) 889-4300
Source:
Lockandkeyre
Added: Nov 5
Changed: Nov 12
Last Checked: Nov 12 at 2:31PM
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 Conway - Dartmouth
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Investment Insights
Based on property information with market context.
This 6-unit apartment building contains 3,738 square feet and was built in 1910. The property is fully occupied, with a tenant history described as consistent. Its stated upkeep and existing occupancy provide the principal details of the asset.
Key Highlights
- Six apartments in a fully occupied building
- 3,738 square feet of building area
- Constructed in 1910
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,329
Cap Rate
6.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$986,580
$986.6K
Cap Rate 7%
$704,700
$704.7K
Cap Rate 9%
$548,100
$548.1K
Market Conditions
NOI Build-Up for 3,738 SF
Gross rent
$96.4K $25.80/SF
− Vacancy
−$6.8K −$1.81/SF
EGI
$89.7K $23.99/SF
− OpEx
−$40.4K −$10.80/SF
NOI
$49.3K $13.20/SF
Area
New Bedford, MA
Vacancy
7.00%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$986,580
Cap Rate 7%
$704,700
Cap Rate 9%
$548,100
Alternative Uses
Best Use
Apartment 5plus
$704.7K
$616.6K – $822.2K
NOI $49,329 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$964.4K – $1.29M
NOI $77,152 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,717
Businesses Nearby
Explore this area
Business Placement
Demographics for 02740, MA
45,166
Population
20,532
Households
2.2
Avg Household Size
39
Median Age
18%
College-Educated
77%
High-School Grad
5.7 sq mi
ZIP Area
7,924
Density / Sq Mi
$54,563
Median Household Income
$39,310
Median Earnings
$1,052
Median Rent
$303,400
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in New Bedford, MA
Properties on Market for Apartment buildings in New Bedford
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - The fully occupied property has a record of consistent tenant history.
Where is this apartment building located?
The property is located at 131 Chestnut St New Bedford, MA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Six apartments in a fully occupied building; 3,738 square feet of building area; Constructed in 1910
