Renovated 3-Unit
For Sale
$799,900
Pending
133 State St, New Bedford, MA 02740
Three vacant residences with updated building systems and flexible owner-use or leasing options.
Property Size4,774 SF
Days on Market50
Property Features for 133 State St
General Information
Standard status
Pending
Size
4,774 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,094
Building Details
Building Size
4,774 SF
Year Built
1871
Stories
3
Units
3
Listing Agency:
Century 21 Limitless
Listed By:
Kyle Seyboth · License #REB.0019335
(508) 726-3492
Source:
Elliman
Added: Sep 11
Changed: Oct 29
Last Checked: Oct 28 at 8:22AM
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 Century 21 Limitless
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Investment Insights
Based on property information with market context.
Built in 1871, this three-unit triplex has undergone renovation and is currently vacant throughout. The unit mix includes a four-bedroom, two-bath residence; a three-bedroom, two-bath residence; and a two-bedroom, one-bath residence, creating options for leasing, owner occupancy, or a combination of the two.
Building system improvements include PVC drain lines, PEX water lines, first-floor mini-split systems, two gas-fired boilers, and three hot water tanks. The property is near Clasky Commons, local shops, restaurants, markets, museums, public transportation, and the New Bedford Whaling National Historical Park. Route 18, Route 140, Route 195, Downtown New Bedford, the waterfront, UMass Dartmouth’s New Bedford campus, and Southcoast Health are also accessible from the property.
Building system improvements include PVC drain lines, PEX water lines, first-floor mini-split systems, two gas-fired boilers, and three hot water tanks. The property is near Clasky Commons, local shops, restaurants, markets, museums, public transportation, and the New Bedford Whaling National Historical Park. Route 18, Route 140, Route 195, Downtown New Bedford, the waterfront, UMass Dartmouth’s New Bedford campus, and Southcoast Health are also accessible from the property.
Key Highlights
- Three‑unit property with all units vacant
- Unit mix includes 4BR/2BA, 3BR/2BA, and 2BR/1BA layouts
- New PVC drains and PEX water lines throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,624
Cap Rate
8.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,372,480
$1.4M
Cap Rate 7%
$980,343
$980.3K
Cap Rate 9%
$762,489
$762.5K
Market Conditions
NOI Build-Up for 4,774 SF
Gross rent
$106.0K $22.20/SF
− Vacancy
−$7.9K −$1.67/SF
EGI
$98.0K $20.54/SF
− OpEx
−$29.4K −$6.16/SF
NOI
$68.6K $14.37/SF
Area
New Bedford, MA
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,372,480
Cap Rate 7%
$980,343
Cap Rate 9%
$762,489
Alternative Uses
Best Use
Multifamily LT 5
$980.3K
$857.8K – $1.14M
NOI $68,624 @ 7.0% cap · market cap 8.58%
Second Best
Apartment 5plus
$900.0K
$787.5K – $1.05M
NOI $63,001 @ 7.0% cap · market cap 7.88%
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,535 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
979
Businesses Nearby
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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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three vacant residences with updated building systems and flexible owner-use or leasing options.
Where is this triplex located?
The property is located at 133 State 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: Three‑unit property with all units vacant; Unit mix includes 4BR/2BA, 3BR/2BA, and 2BR/1BA layouts; New PVC drains and PEX water lines throughout
