Three-Unit Multifamily with Off-Street
For Sale
$534,000
Pending
188 Belleville Rd, New Bedford, MA 02745
MULTI_FAMILY - New Bedford, MA
Property Size1,791 SF
Lot Size0.06 Acres
Days on Market102
Property Features for 188 Belleville Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RC
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 4
Parking
5
Elementary school
Abraham Lincoln Elem
Middle school
Normandin Middle
High school
New Bedford High
Directions
Use GPS
Standard status
Pending
APN
M:0108 L:0156,2900696
Size
1,791 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5066
Building Details
Year built
1908
Floors in Building
3
Number of units
3
Listing Agency:
RE/MAX Vantage · RE/MAX International
(774) 992-0297
Listed By:
Eddie Lopez
(508) 999-4424
Added: Apr 20
Changed: Jul 30
Last Checked: Jul 30 at 4:06PM
MLS# 73504299
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale three-unit multifamily property includes two 2-bedroom units and a 1-bedroom third-floor unit. The building is in strong condition and has seen major system updates, including plumbing and electrical work within the past 12 years. Hot water tanks were replaced in 2022 and 2023. The first-floor unit is equipped with forced hot air and central A/C, adding comfort to the unit mix. A coin-operated laundry area is available in the basement for tenant use. The property is situated on a 0.0621-acre lot and totals 1,791 square feet.
188 Belleville Rd is in the North End area of New Bedford. The property is described as being less than 1 mile from the Church St T station, with Brooklawn Park and Riverside Park nearby. It also offers access to highway connections and is close to shopping, dining, and other local amenities.
For owner-occupants or investors seeking a flexible unit configuration, this building provides two separate 2-bedroom options along with a smaller 1-bedroom unit on the third floor. With off-street parking for tenants, updated systems, and on-site coin-op laundry, the property is positioned as a practical, turnkey-minded rental opportunity within a commuter-oriented area. Zoning is listed as RC.
188 Belleville Rd is in the North End area of New Bedford. The property is described as being less than 1 mile from the Church St T station, with Brooklawn Park and Riverside Park nearby. It also offers access to highway connections and is close to shopping, dining, and other local amenities.
For owner-occupants or investors seeking a flexible unit configuration, this building provides two separate 2-bedroom options along with a smaller 1-bedroom unit on the third floor. With off-street parking for tenants, updated systems, and on-site coin-op laundry, the property is positioned as a practical, turnkey-minded rental opportunity within a commuter-oriented area. Zoning is listed as RC.
Key Highlights
- 3‑family property built in 1908 with two 2‑bedroom units plus a 1‑bedroom third‑floor unit
- Off‑street parking for tenants
- First‑floor unit features forced hot air and central A/C
Financial Insights For Multifamily LT 5
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 | $39.8k | $22.20 |
| − Vacancy | −$3.0k | −$1.67 |
| EGI | $36.8k | $20.54 |
| − OpEx | −$11.0k | −$6.16 |
| NOI | $25.7k | $14.37 |
1,791 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$367.8K
$321.8K – $429.1K
NOI $25,745 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$337.6K
$295.4K – $393.9K
NOI $23,635 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$528.1K
$462.1K – $616.1K
NOI $36,966 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
985
Businesses Nearby
Explore this area
Business Placement
Demographics for 02745, MA
25,336
Population
10,649
Households
2.4
Avg Household Size
41
Median Age
20%
College-Educated
83%
High-School Grad
9.8 sq mi
ZIP Area
2,585
Density / Sq Mi
$73,154
Median Household Income
$46,978
Median Earnings
$1,104
Median Rent
$339,600
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?
Triplex - Well-kept three-unit building with updated mechanicals and off-street tenant parking, featuring two 2-bedroom units and one 1-bedroom.
Where is this triplex located?
The property is located at 188 Belleville Rd New Bedford, MA.
What is the asking price?
The asking price for this property is $534,000.
What are key features of this property?
This property features: 3‑family property built in 1908 with two 2‑bedroom units plus a 1‑bedroom third‑floor unit; Off‑street parking for tenants; First‑floor unit features forced hot air and central A/C
