New Bedford Four-Unit
For Sale
$689,900
191 Bonney Street, New Bedford, MA 02740
Well-maintained, owner-occupied four-unit property in New Bedford.
Property Size2,732 SF
Price / SF$252.53
Days on Market229
Property Features for 191 Bonney Street
General Information
Standard status
Active
Size
2,732 SF
Total Parking Spaces
2
Property subtype
Multi-family / 4 Family
Zoning
MUB
Taxes and HOA fees
Annual Taxes
$4,737
Amenities
City/Town Sewer, Public
No
Wood, Tile
4.0
Full, Partially Finished, Walk Out, Concrete Floor, Unfinished Basement
4
4.00
Fenced/Enclosed
Frame
Shingle
Level, Other
Porch
Building Details
Year Built
1891
Listing Agency:
Redlon Realty LLC
Listed By:
Adam Walorz · License #9570473
(774) 259-4057
Source:
Compass
Added: Feb 18
Changed: Aug 8
Last Checked: Jul 3 at 12:23PM
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 Redlon Realty LLC
Investment Insights
Based on property information with market context.
This well-maintained, family-owned, nearly 3000 square foot, four-unit property is located in New Bedford. The property offers an investment opportunity with off-street parking via a driveway and a backyard. It is situated in a prime location for tenants and commuters, with convenient access to the highway, shopping, dining, and parks. The property features a fully vinyl-sided exterior and four legal units, each containing two bedrooms. The units are in great condition and include full kitchens, baths, light and bright bedrooms, and convenient floor plans. This is a rare opportunity to own a legal four-unit property in a growing city.
Key Highlights
- Large 4‑unit property (nearly 3000 SF) in New Bedford
- Prime location near highway access, shopping, dining, and parks
- Off‑street parking with driveway and backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,271
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$785,420
$785.4K
Cap Rate 7%
$561,014
$561.0K
Cap Rate 9%
$436,344
$436.3K
Market Conditions
NOI Build-Up for 2,732 SF
Gross rent
$60.7K $22.20/SF
− Vacancy
−$4.5K −$1.67/SF
EGI
$56.1K $20.54/SF
− OpEx
−$16.8K −$6.16/SF
NOI
$39.3K $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%
$785,420
Cap Rate 7%
$561,014
Cap Rate 9%
$436,344
Alternative Uses
Best Use
Multifamily LT 5
$561.0K
$490.9K – $654.5K
NOI $39,271 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$515.0K
$450.7K – $600.9K
NOI $36,053 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$805.5K
$704.9K – $939.8K
NOI $56,388 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,415
Businesses Nearby
Explore this area
Business Placement
Demographics for 02740, MA
45,166
Population
20,532
Households
2.2
Avg Household Size
39
Median Age
18%
College-Educated
77%
High-School Grad
5.7 sq mi
ZIP Area
7,924
Density / Sq Mi
$54,563
Median Household Income
$39,310
Median Earnings
$1,052
Median Rent
$303,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Quadplex - Well-maintained, owner-occupied four-unit property in New Bedford.
Where is this quadplex located?
The property is located at 191 Bonney Street New Bedford, MA.
What is the asking price?
The asking price for this property is $689,900.
What are key features of this property?
This property features: Large 4‑unit property (nearly 3000 SF) in New Bedford; Prime location near highway access, shopping, dining, and parks; Off‑street parking with driveway and backyard
