6-Unit Apartment
14-16 2ND Street, Lowell, MA 01850
For Sale
$1,650,000
Six renovated two-bedroom apartments have separate gas and electric utilities, with laundry hookups in the basement.
Property Size5,400 SF
Price / SF$305.56
Days on Market8
Property Features for 14-16 2ND Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Utilities to Site
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Sprinkler System
Amenities
laundry hookups
Building Details
Year Built
Listing Agency:
Keynova Group LLC
Listed By:
Brendan Conley
(978) 404-5366
Source:
Inrealtyinc
Added: Nov 2
Changed: Nov 8
Last Checked: Nov 8 at 6:29AM
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 Keynova Group LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 5,400-square-foot apartment building contains six units, each with two bedrooms and one bathroom. Interior updates include renovated kitchens, bathrooms, and floors, while basement laundry hookups serve the building. Gas and electric utilities are separately metered by unit.
Building improvements include a newer roof, updated plumbing and electrical systems, and new heating systems. A sprinkler system was installed in 2015. The property is located at 14-16 2nd Street in Lowell, Massachusetts, and was built in 1880.
Building improvements include a newer roof, updated plumbing and electrical systems, and new heating systems. A sprinkler system was installed in 2015. The property is located at 14-16 2nd Street in Lowell, Massachusetts, and was built in 1880.
Key Highlights
- Six apartments, each with 2 bedrooms and 1 bathroom
- 5,400 square feet; built in 1880
- Separate gas and electric utilities for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,328
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,926,560
$1.9M
Cap Rate 7%
$1,376,114
$1.4M
Cap Rate 9%
$1,070,311
$1.1M
Market Conditions
NOI Build-Up for 5,400 SF
Gross rent
$187.9K $34.80/SF
− Vacancy
−$12.8K −$2.37/SF
EGI
$175.1K $32.43/SF
− OpEx
−$78.8K −$14.60/SF
NOI
$96.3K $17.84/SF
Area
Lowell, MA
Vacancy
6.80%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,926,560
Cap Rate 7%
$1,376,114
Cap Rate 9%
$1,070,311
Alternative Uses
Best Use
Apartment 5plus
$1.38M
$1.20M – $1.61M
NOI $96,328 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $133,042 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,223
Businesses Nearby
Explore this area
Business Placement
Demographics for 01850, MA
16,670
Population
6,028
Households
2.8
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
1.4 sq mi
ZIP Area
11,907
Density / Sq Mi
$67,581
Median Household Income
$42,096
Median Earnings
$1,666
Median Rent
$367,200
Median Home Value
Market
Properties on Market for Apartment buildings in Lowell
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Six renovated two-bedroom apartments have separate gas and electric utilities, with laundry hookups in the basement.
Where is this apartment building located?
The property is located at 14-16 2ND Street Lowell, MA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Six apartments, each with 2 bedrooms and 1 bathroom; 5,400 square feet; built in 1880; Separate gas and electric utilities for each unit
