4-Unit Quadplex with Finished
For Sale
$749,000
18 Mcgurk St, New Bedford, MA 02744
Four separately metered homes include individual laundry hookups and two units scheduled for vacancy at closing.
Property Size4,689 SF
Price / SF$159.74
Days on Market21
Property Features for 18 Mcgurk St
General Information
Standard status
Active
Size
4,689 SF
Property subtype
4 Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 4BR, 2 x 2BR
Multifamily Units
4
Individually Metered Utilities
gas, electric, heating
Additional Details
Tenant in Place
Yes
Amenities
backyard
laundry hookups
finished basement
Building Details
Year Built
1911
Buildings
1
Listing Agency:
Amicone & Associates
Listed By:
Nikolas Amicone
(978) 998-2867
Source:
Amiconeassociates
Added: Oct 12
Changed: Oct 31
Last Checked: Oct 31 at 3:25AM
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 Amicone & Associates
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Investment Insights
Based on property information with market context.
This four-unit residential property contains 12 bedrooms: two four-bedroom units on the first and second floors, plus two two-bedroom units on the third floor. The first-floor apartment has hardwood flooring. Separately metered gas and electric serve each unit, and tenants pay for heating. Individual laundry hookups are located in the basement. The finished basement has a walkout, kitchen, full bathroom, and living area. Vinyl siding covers the exterior, and a backyard provides outdoor space.
The property is near downtown, the T-Station, shopping, West and East Beach, restaurants, schools, public transportation, and major highways. It was built in 1911. Tenants at Will currently occupy the property; the first-floor unit and the north third-floor unit are to be vacant at closing.
The property is near downtown, the T-Station, shopping, West and East Beach, restaurants, schools, public transportation, and major highways. It was built in 1911. Tenants at Will currently occupy the property; the first-floor unit and the north third-floor unit are to be vacant at closing.
Key Highlights
- Four residential units with 12 bedrooms
- Two four‑bedroom apartments and two two‑bedroom apartments
- Finished basement with walkout, kitchen, full bathroom, and living area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,402
Cap Rate
9.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,348,040
$1.3M
Cap Rate 7%
$962,886
$962.9K
Cap Rate 9%
$748,911
$748.9K
Market Conditions
NOI Build-Up for 4,689 SF
Gross rent
$104.1K $22.20/SF
− Vacancy
−$7.8K −$1.67/SF
EGI
$96.3K $20.54/SF
− OpEx
−$28.9K −$6.16/SF
NOI
$67.4K $14.37/SF
Area
New Bedford, MA
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,348,040
Cap Rate 7%
$962,886
Cap Rate 9%
$748,911
Alternative Uses
Best Use
Multifamily LT 5
$962.9K
$842.5K – $1.12M
NOI $67,402 @ 7.0% cap · market cap 9.00%
Second Best
Apartment 5plus
$884.0K
$773.5K – $1.03M
NOI $61,879 @ 7.0% cap · market cap 8.26%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,781 @ 7.0% cap · market cap 12.92%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
674
Businesses Nearby
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Business Placement
Demographics for 02744, MA
13,055
Population
5,609
Households
2.3
Avg Household Size
35
Median Age
13%
College-Educated
72%
High-School Grad
1.3 sq mi
ZIP Area
10,042
Density / Sq Mi
$54,841
Median Household Income
$36,799
Median Earnings
$1,133
Median Rent
$344,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four separately metered homes include individual laundry hookups and two units scheduled for vacancy at closing.
Where is this quadplex located?
The property is located at 18 Mcgurk St New Bedford, MA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Four residential units with 12 bedrooms; Two four‑bedroom apartments and two two‑bedroom apartments; Finished basement with walkout, kitchen, full bathroom, and living area
