Five-Unit Residential Income
141 Elm Street Southbridge, MA 01550
141 Elm Street, Southbridge, MA, 01550
$624,900
For Sale
$624,900
Five residential units with vinyl siding, exterior porches, and off-street parking for 6 to 7 vehicles.
Property Size4,144 SF
Price / SF$150.80
Days on Market36
Property Features for 141 Elm Street
General Information
- Standard status
- Active
- Size
- 4,144 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
Aucoin Ryan Realty
Listed by
Mary Jo Demick
(617) 680-0690
Source
Inrealtyinc
Added: Jun 16 Updated: Jul 21 at 6:31AM Checked: Jul 21 at 6:31AM
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 Aucoin Ryan Realty
Investment Insights
Based on property information with market context.
This five-unit apartment building features vinyl siding and replacement windows in the units. The property includes exterior porches for four of the units and off-street parking for approximately 6 to 7 vehicles. Unit layouts include one 1-bedroom and two 2-bedroom apartments on the first floor, with two large 2/3-bedroom units on the second floor.
Each unit is described as unique and includes refrigerator and range, with washer/dryer hookups available. The remarks indicate some original cabinets, molding, and hardwood floors in the units. Tenants are stated to pay their own heat (gas), hot water, and electricity, with electric service at 100 amp and a landlord meter also noted.
Per the information provided, there are long-term tenants, with four tenants under TAW and one Section 8 tenant.
Each unit is described as unique and includes refrigerator and range, with washer/dryer hookups available. The remarks indicate some original cabinets, molding, and hardwood floors in the units. Tenants are stated to pay their own heat (gas), hot water, and electricity, with electric service at 100 amp and a landlord meter also noted.
Per the information provided, there are long-term tenants, with four tenants under TAW and one Section 8 tenant.
Key Highlights
- 5‑unit apartment building built in 1900 with vinyl siding and off‑street parking for 6 to 7 vehicles
- Unit mix: 1BR and two 2BR units on the first floor; two large 2/3BR units on the second floor
- Exterior porches for 4 of the units
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $91.0k | $21.96 |
| − Vacancy | −$2.4k | −$0.57 |
| EGI | $88.6k | $21.39 |
| − OpEx | −$39.9k | −$9.63 |
| NOI | $48.7k | $11.76 |
4,144 SF · lease $21.96/SF/yr · vacancy 2.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$696.4K
$609.4K – $812.5K
NOI $48,750 @ 7.0% cap · market cap 7.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,058 @ 7.0% cap · market cap 15.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Five residential units with vinyl siding, exterior porches, and off-street parking for 6 to 7 vehicles.
Where is this apartment building located?
The property is located at 141 Elm Street Southbridge, MA.
What is the asking price?
The asking price for this property is $624,900.
What are key features of this property?
This property features: 5‑unit apartment building built in 1900 with vinyl siding and off‑street parking for 6 to 7 vehicles; Unit mix: 1BR and two 2BR units on the first floor; two large 2/3BR units on the second floor; Exterior porches for 4 of the units
