Two-Story Multifamily
For Sale
$630,000
30 California Ave, Bellingham, MA 02019
Finished basement includes a family room, wet bar, and full bath.
Property Size2,408 SF
Price / SF$261.63
Days on Market37
Property Features for 30 California Ave
General Information
Standard status
Active
Size
2,408 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Building Details
Year Built
1922
Stories
2
Listing Agency:
Ryan Mccormick, Metro Realty Corp
(617) 398-4444
Listed By:
The Goodrich Team
(617) 398-4444
Source:
Goodrichboston
Added: Jul 23
Changed: Aug 28
Last Checked: Aug 26 at 12:39PM
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 Ryan Mccormick, Metro Realty Corp
Investment Insights
Based on property information with market context.
This two-story multifamily property contains 2,408 square feet of living space and seven bedrooms. The home includes a two-car garage and a finished basement arranged with a family room, wet bar, and full bath. The basement configuration provides additional functional space within the property.
Built in 1922, the residence is located at 30 California Ave in Bellingham, Massachusetts. Its multi-level design separates living areas across two floors, while the basement adds another defined area for household or occupancy needs.
Built in 1922, the residence is located at 30 California Ave in Bellingham, Massachusetts. Its multi-level design separates living areas across two floors, while the basement adds another defined area for household or occupancy needs.
Key Highlights
- 2,408 square feet of living space
- Seven‑bedroom multifamily property
- Two‑story layout built in 1922
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
$39,800
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
6.32%
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%
$796,000
$796.0K
Cap Rate 7%
$568,571
$568.6K
Cap Rate 9%
$442,222
$442.2K
Market Conditions
NOI Build-Up for 2,408 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
$76.6K $31.80/SF
− Vacancy
−$4.2K −$1.75/SF
EGI
$72.4K $30.05/SF
− OpEx
−$32.6K −$13.52/SF
NOI
$39.8K $16.53/SF
Area
Norfolk County, MA
Vacancy
5.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$796,000
Cap Rate 7%
$568,571
Cap Rate 9%
$442,222
Alternative Uses
Best Use
Apartment 5plus
$568.6K
$497.5K – $663.3K
NOI $39,800 @ 7.0% cap · market cap 6.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.66M
NOI $99,787 @ 7.0% cap · market cap 15.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
Explore this area
Business Placement
Demographics for 02019, MA
16,945
Population
6,555
Households
2.6
Avg Household Size
43
Median Age
40%
College-Educated
95%
High-School Grad
18.3 sq mi
ZIP Area
926
Density / Sq Mi
$120,966
Median Household Income
$61,453
Median Earnings
$1,788
Median Rent
$425,900
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?
Multifamily property - Finished basement includes a family room, wet bar, and full bath.
Where is this multifamily property located?
The property is located at 30 California Ave Bellingham, MA.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: 2,408 square feet of living space; Seven‑bedroom multifamily property; Two‑story layout built in 1922
