6-Unit Apartment
New
For Sale
$1,200,000
Pending
140-142 Query St, New Bedford, MA 02745
A substantial multifamily property with solar generation, varied heating systems, and a separately rented garage.
Property Size6,414 SF
Days on Market7
Property Features for 140-142 Query St
General Information
Standard status
Pending
Size
6,414 SF
Total Parking Spaces
2
Property subtype
5-9 Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
6
Amenities
patio
storage shed
solar system
Building Details
Year Built
1924
Listing Agency:
Keller Williams Realty
(508) 238-5000
Listed By:
Stephen Medeiros
(774) 473-9150
Source:
Lockandkeyre
Added: Sep 29
Changed: Oct 4
Last Checked: Oct 4 at 8:30AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 6-unit apartment property contains 6,414 square feet, with 12 bedrooms and 6 bathrooms. Four units use gas hot-water baseboard heat; the two third-floor units have forced-air heating. A 54-panel solar array generates more than 18,000 kWh annually. Exterior features include vinyl siding and gutters installed in 2022, along with a roof replaced in December 2013. A rear patio and storage shed provide additional on-site features, and the 2-car garage is divided and rented separately.
The property is a short drive from the highway and approximately a 2-minute ride from the Church St Commuter Rail station. Zoning is RB, and the building was constructed in 1924.
The property is a short drive from the highway and approximately a 2-minute ride from the Church St Commuter Rail station. Zoning is RB, and the building was constructed in 1924.
Key Highlights
- 6 apartments with 12 bedrooms and 6 bathrooms across 6,414 square feet
- 54‑panel solar system generating over 18,000 kWh annually
- Four units have gas hot‑water baseboard heat; two third‑floor units have forced‑air heating
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,644
Cap Rate
7.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,692,880
$1.7M
Cap Rate 7%
$1,209,200
$1.2M
Cap Rate 9%
$940,489
$940.5K
Market Conditions
NOI Build-Up for 6,414 SF
Gross rent
$165.5K $25.80/SF
− Vacancy
−$11.6K −$1.81/SF
EGI
$153.9K $23.99/SF
− OpEx
−$69.3K −$10.80/SF
NOI
$84.6K $13.20/SF
Area
New Bedford, MA
Vacancy
7.00%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,692,880
Cap Rate 7%
$1,209,200
Cap Rate 9%
$940,489
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,644 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.89M
$1.65M – $2.21M
NOI $132,385 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
906
Businesses Nearby
Explore this area
Business Placement
Demographics for 02745, MA
25,336
Population
10,649
Households
2.4
Avg Household Size
41
Median Age
20%
College-Educated
83%
High-School Grad
9.8 sq mi
ZIP Area
2,585
Density / Sq Mi
$73,154
Median Household Income
$46,978
Median Earnings
$1,104
Median Rent
$339,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - A substantial multifamily property with solar generation, varied heating systems, and a separately rented garage.
Where is this apartment building located?
The property is located at 140-142 Query St New Bedford, MA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 6 apartments with 12 bedrooms and 6 bathrooms across 6,414 square feet; 54‑panel solar system generating over 18,000 kWh annually; Four units have gas hot‑water baseboard heat; two third‑floor units have forced‑air heating
