Quadplex with Finished Basement
For Sale
$849,000
106 Richmond St, New Bedford, MA 02740
Three main apartments and a finished lower-level unit provide varied residential layouts.
Property Size3,390 SF
Days on Market8
Property Features for 106 Richmond St
General Information
Standard status
Active
Size
3,390 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,144
Building Details
Building Size
3,390 SF
Year Built
1913
Stories
4
Units
4
Listing Agency:
RE/MAX Legacy
Listed By:
Kade Phillips · License #9561525
(617) 712-5582
Source:
Elliman
Added: Sep 28
Changed: Oct 4
Last Checked: Oct 4 at 12:00PM
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 Legacy
Investment Insights
Based on property information with market context.
Built in 1913, this New Bedford multifamily property has three apartments with 3-bedroom layouts and a finished basement unit with 2 bedrooms. The lower-level space has recently received new finishes. All units are occupied, and the property includes a driveway for off-street parking.
The property occupies a corner lot at 106 Richmond St. WalkScore is 84, BikeScore is 52, and TransitScore is 36.
The property occupies a corner lot at 106 Richmond St. WalkScore is 84, BikeScore is 52, and TransitScore is 36.
Key Highlights
- Three main apartments, each with a 3‑bedroom layout
- Finished basement unit with 2 bedrooms and new finishes
- All units are occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,730
Cap Rate
5.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$974,600
$974.6K
Cap Rate 7%
$696,143
$696.1K
Cap Rate 9%
$541,444
$541.4K
Market Conditions
NOI Build-Up for 3,390 SF
Gross rent
$75.3K $22.20/SF
− Vacancy
−$5.6K −$1.67/SF
EGI
$69.6K $20.54/SF
− OpEx
−$20.9K −$6.16/SF
NOI
$48.7K $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%
$974,600
Cap Rate 7%
$696,143
Cap Rate 9%
$541,444
Alternative Uses
Best Use
Multifamily LT 5
$696.1K
$609.1K – $812.2K
NOI $48,730 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$639.1K
$559.2K – $745.6K
NOI $44,737 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$999.6K
$874.6K – $1.17M
NOI $69,970 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
620
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Three main apartments and a finished lower-level unit provide varied residential layouts.
Where is this quadplex located?
The property is located at 106 Richmond St New Bedford, MA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Three main apartments, each with a 3‑bedroom layout; Finished basement unit with 2 bedrooms and new finishes; All units are occupied
