Four-Unit Multifamily
For Sale
$924,900
Pending
5 Dublin St, Lowell, MA 01854
Individually metered residences feature separate utilities and varied floor plans, including a unit scheduled for vacancy.
Property Size3,482 SF
Days on Market43
Property Features for 5 Dublin St
General Information
Standard status
Pending
Size
3,482 SF
Property subtype
Multi-Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 4BR/1BA, 1 x studio/1BA, 1 x 3BR/1BA
Multifamily Units
4
Building Details
Year Built
1920
Listing Agency:
RE/MAX Innovative Properties
(603) 434-4101
Listed By:
Raymond Boutin · License #9026126
Source:
Livianhomesct
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 30 at 8:56PM
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 RE/MAX Innovative Properties
Investment Insights
Based on property information with market context.
This 1920 multifamily property contains four residences with distinct layouts. Two units offer four bedrooms, full baths, and generously sized living rooms; the second-floor residence also includes an exterior wrap-around porch. Another unit is an extended studio with one bath, a separate kitchen, and a private rear entry. The remaining residence spans the second and third floors, with its kitchen, living room, and bath on the second level and three bedrooms above.
Each unit is individually metered and served by separate utilities. Unit 3 is scheduled to be delivered vacant. The property sits across from the Canal walkway and near Market Basket, public transportation, UMass Lowell, North Common and Pool, and the Senior Center.
Each unit is individually metered and served by separate utilities. Unit 3 is scheduled to be delivered vacant. The property sits across from the Canal walkway and near Market Basket, public transportation, UMass Lowell, North Common and Pool, and the Senior Center.
Key Highlights
- Four‑unit property built in 1920
- Unit 3 to be delivered vacant
- Two residences with 4 bedrooms and full baths
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
$68,991
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
7.46%
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%
$1,379,820
$1.4M
Cap Rate 7%
$985,586
$985.6K
Cap Rate 9%
$766,567
$766.6K
Market Conditions
NOI Build-Up for 3,482 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
$106.5K $30.60/SF
− Vacancy
−$8.0K −$2.30/SF
EGI
$98.6K $28.31/SF
− OpEx
−$29.6K −$8.49/SF
NOI
$69.0K $19.81/SF
Area
Lowell, MA
Vacancy
7.50%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,379,820
Cap Rate 7%
$985,586
Cap Rate 9%
$766,567
Alternative Uses
Best Use
Multifamily LT 5
$985.6K
$862.4K – $1.15M
NOI $68,991 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$887.3K
$776.4K – $1.04M
NOI $62,114 @ 7.0% cap · market cap 6.72%
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,788 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,018
Businesses Nearby
Explore this area
Business Placement
Demographics for 01854, MA
29,561
Population
10,960
Households
2.7
Avg Household Size
31
Median Age
30%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
7,390
Density / Sq Mi
$70,397
Median Household Income
$39,216
Median Earnings
$1,477
Median Rent
$360,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Individually metered residences feature separate utilities and varied floor plans, including a unit scheduled for vacancy.
Where is this quadplex located?
The property is located at 5 Dublin St Lowell, MA.
What is the asking price?
The asking price for this property is $924,900.
What are key features of this property?
This property features: Four‑unit property built in 1920; Unit 3 to be delivered vacant; Two residences with 4 bedrooms and full baths
