27-Unit Apartment Building with
For Sale
$1,450,000
162 Sawyer St, New Bedford, MA 02746
Rooming house with updated exterior elements, solar panels, and established tenancy near Highway 195 and Riverside Landing Shopping Plaza.
Property Size6,462 SF
Price / SF$224.39
Days on Market126
Property Features for 162 Sawyer St
General Information
Standard status
Active
Size
6,462 SF
Property subtype
Multi-Family
Zoning
IA
Additional Details
Highway Access
Yes
Multifamily Units
27
Taxes and HOA fees
Annual Taxes
$6,303
Building Details
Building Size
6,462 SF
Year Built
1891
Stories
3
Listing Agency:
RE/MAX Vantage
(774) 992-0297
Listed By:
Josue Rodriguez · License #451502546
(774) 992-5928
Source:
Churchillprop
Added: Jun 16
Changed: Oct 6
Last Checked: Oct 19 at 4:20AM
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 Vantage
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Investment Insights
Based on property information with market context.
This 27-unit rooming house occupies a 6,462-square-foot property built in 1891. Improvements include vinyl siding and vinyl replacement windows, while seller-owned solar panels are included with the property. Many tenants have longstanding occupancy, providing an established resident base.
The property is located near Highway 195 and within walking distance of Riverside Landing Shopping Plaza, which includes shopping and dining options. The asset is identified with IA zoning and is situated at 162 Sawyer St, New Bedford, MA 02746.
The property is located near Highway 195 and within walking distance of Riverside Landing Shopping Plaza, which includes shopping and dining options. The asset is identified with IA zoning and is situated at 162 Sawyer St, New Bedford, MA 02746.
Key Highlights
- 27‑unit rooming house
- 6,462‑square‑foot property built in 1891
- Seller‑owned solar panels included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,277
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,705,540
$1.7M
Cap Rate 7%
$1,218,243
$1.2M
Cap Rate 9%
$947,522
$947.5K
Market Conditions
NOI Build-Up for 6,462 SF
Gross rent
$166.7K $25.80/SF
− Vacancy
−$11.7K −$1.81/SF
EGI
$155.0K $23.99/SF
− OpEx
−$69.8K −$10.80/SF
NOI
$85.3K $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%
$1,705,540
Cap Rate 7%
$1,218,243
Cap Rate 9%
$947,522
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.07M – $1.42M
NOI $85,277 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.67M – $2.22M
NOI $133,376 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
27
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
869
Businesses Nearby
Explore this area
Business Placement
Demographics for 02746, MA
17,355
Population
7,640
Households
2.3
Avg Household Size
33
Median Age
10%
College-Educated
67%
High-School Grad
2.8 sq mi
ZIP Area
6,198
Density / Sq Mi
$41,023
Median Household Income
$33,472
Median Earnings
$1,100
Median Rent
$324,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Rooming house with updated exterior elements, solar panels, and established tenancy near Highway 195 and Riverside Landing Shopping Plaza.
Where is this apartment building located?
The property is located at 162 Sawyer St New Bedford, MA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 27‑unit rooming house; 6,462‑square‑foot property built in 1891; Seller‑owned solar panels included
