91-Unit Apartment
For Sale
Contact for pricing
170 Cross Street, Lowell, MA 01854
Multifamily portfolio across Lowell with established neighborhood access and connections to Greater Boston and Southern New Hampshire.
Property Size78,658 SF
Lot Size2.24 Acres
Price / SF$273.97
Days on Market57
Property Features for 170 Cross Street
General Information
Standard status
Active
Size
78,658 SF
Total Parking Spaces
94
Lot size
2.24 Acres
Property subtype
Multifamily
Net Operating Income
$1,490,619
Units
Unit Mix
65 x 2BR/1BA, 23 x 1BR/1BA, 3 x Studio
Multifamily Units
91
Additional Details
Highway Access
Yes
Building Details
Year Built
1955
Year Renovated
1974
Buildings
4
Units
91
Tenancy
Multi
Listing Agency:
Horvath & Tremblay
Listed By:
Dennis Kelleher · License #MA 9504385
(781) 776-4002
Source:
Crexi
Added: Aug 11
Changed: Sep 23
Last Checked: Oct 5 at 4:49PM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
This apartment portfolio includes 91 units across properties at 170 Cross Street, 18–24 Waugh Street, 146 Stevens Street, and 169 Aiken Avenue in Lowell, Massachusetts. The unit mix comprises 65 two-bedroom, one-bathroom apartments; 23 one-bedroom, one-bathroom apartments; and 3 studios. The properties contain 69,855 square feet of gross living area within 78,658 square feet of gross area, situated on 2.24 acres with 94 off-street parking spaces. Built in 1955, the portfolio provides a sizable multifamily footprint distributed across multiple Lowell locations.
Residents have access to Lowell’s downtown business district, neighborhood retail corridors, and surrounding residential areas. Regional routes include Interstate 495, the Lowell Connector, U.S. Route 3, and nearby Interstate 93, connecting the portfolio with the Merrimack Valley, Greater Boston, and Southern New Hampshire.
Residents have access to Lowell’s downtown business district, neighborhood retail corridors, and surrounding residential areas. Regional routes include Interstate 495, the Lowell Connector, U.S. Route 3, and nearby Interstate 93, connecting the portfolio with the Merrimack Valley, Greater Boston, and Southern New Hampshire.
Key Highlights
- 91 total apartment units across four Lowell addresses
- Unit mix includes 65 2‑Bedroom/1‑Bathroom, 23 1‑Bedroom/1‑Bathroom, and 3 Studio units
- 69,855 square feet of gross living area within 78,658 square feet of gross area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,403,139
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$28,062,780
$28.1M
Cap Rate 7%
$20,044,843
$20.0M
Cap Rate 9%
$15,590,433
$15.6M
Market Conditions
NOI Build-Up for 78,658 SF
Gross rent
$2.74M $34.80/SF
− Vacancy
−$186.1K −$2.37/SF
EGI
$2.55M $32.43/SF
− OpEx
−$1.15M −$14.60/SF
NOI
$1.40M $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%
$28,062,780
Cap Rate 7%
$20,044,843
Cap Rate 9%
$15,590,433
Alternative Uses
Best Use
Apartment 5plus
$20.04M
$17.54M – $23.39M
NOI $1,403,139 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$27.68M
$24.22M – $32.30M
NOI $1,937,932 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
91
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,675
Businesses Nearby
Explore this area
Business Placement
Demographics for 01854, MA
29,561
Population
10,960
Households
2.7
Avg Household Size
31
Median Age
30%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
7,390
Density / Sq Mi
$70,397
Median Household Income
$39,216
Median Earnings
$1,477
Median Rent
$360,500
Median Home Value
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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 - Multifamily portfolio across Lowell with established neighborhood access and connections to Greater Boston and Southern New Hampshire.
Where is this apartment building located?
The property is located at 170 Cross Street Lowell, MA.
What is the asking price?
The asking price for this property is $21,550,000.
What are key features of this property?
This property features: 91 total apartment units across four Lowell addresses; Unit mix includes 65 2‑Bedroom/1‑Bathroom, 23 1‑Bedroom/1‑Bathroom, and 3 Studio units; 69,855 square feet of gross living area within 78,658 square feet of gross area
