8-Unit Residential Income
For Sale
$1,250,000
Pending
173 Branch Street, Lowell, MA 01851
Eight-unit apartment building with ample parking, yard, and porch space, including seven studio units and one 1-bedroom unit.
Property Size4,087 SF
Days on Market36
Property Features for 173 Branch Street
General Information
Standard status
Pending
Size
4,087 SF
Property subtype
5+ Family - 5+ Units Up/Down
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$11,457
Amenities
parking
yard
porch space
Building Details
Building Size
4,087 SF
Year Built
1900
Listing Agency:
Keynova Group LLC
(978) 404-5366
Listed By:
Brendan Conley
Source:
Kevinfruh
Added: Jul 8
Changed: Aug 9
Last Checked: Aug 8 at 9:27AM
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
Investment Insights
Based on property information with market context.
This eight-unit residential income property includes seven studio units and one 1-bedroom unit. The building offers outdoor space and common-area comfort with ample parking, a yard, and porch areas.
Situated in Lowell, the property is described as close to UML’s South Campus as well as shopping, dining, grocery, and public parks/transportation.
With a unit mix of seven studios and one 1-bedroom, the property supports a straightforward rental configuration for investors seeking an income-producing apartment building with both indoor units and exterior space.
Situated in Lowell, the property is described as close to UML’s South Campus as well as shopping, dining, grocery, and public parks/transportation.
With a unit mix of seven studios and one 1-bedroom, the property supports a straightforward rental configuration for investors seeking an income-producing apartment building with both indoor units and exterior space.
Key Highlights
- 8‑unit apartment building built in 1900
- Unit mix: 7 studio units and 1 1‑bedroom unit
- Ample on‑site parking plus porch and yard space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$72,906
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,458,120
$1.5M
Cap Rate 7%
$1,041,514
$1.0M
Cap Rate 9%
$810,067
$810.1K
Market Conditions
NOI Build-Up for 4,087 SF
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.
Gross rent
$142.2K $34.80/SF
− Vacancy
−$9.7K −$2.37/SF
EGI
$132.6K $32.43/SF
− OpEx
−$59.7K −$14.60/SF
NOI
$72.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,458,120
Cap Rate 7%
$1,041,514
Cap Rate 9%
$810,067
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$911.3K – $1.22M
NOI $72,906 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,693 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,260
Businesses Nearby
Explore this area
Business Placement
Demographics for 01851, MA
32,691
Population
11,759
Households
2.8
Avg Household Size
34
Median Age
32%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
10,216
Density / Sq Mi
$87,962
Median Household Income
$46,388
Median Earnings
$1,686
Median Rent
$432,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit apartment building with ample parking, yard, and porch space, including seven studio units and one 1-bedroom unit.
Where is this apartment building located?
The property is located at 173 Branch Street Lowell, MA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 8‑unit apartment building built in 1900; Unit mix: 7 studio units and 1 1‑bedroom unit; Ample on‑site parking plus porch and yard space
