Four-Unit Residential Income
191 Bonney St, New Bedford, MA 02740
Owner-occupied 4-unit building offers all 2-bedroom legal apartments with off-street parking and a backyard.
Type:4 Family
Property size:
3,000 SFPrice / SF:
$229/SF- Added:
- Mar 23, 2026
- Days on Market:
- 106
- Last Refresh:
- Jun 27 at 3:03 am
Property Features for 191 Bonney St
General Information
- Standard status
- Active
- Size
- 3,000 SF
- Property subtype
- 4 Family
Building Details
- Year Built
- 1891
Listing office Redlon Realty LLC
Listing date Mar 23, 2026
Source Donnellyandco
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
HighLights
- Owner‑occupied 4‑unit property built in 1891, offered as a nearly 3,000 SF multi‑family in the heart of New Bedford
- All units are legal 2‑bedroom apartments, with full kitchens and baths
- Units are described as being in great condition, with light and bright bedrooms and convenient floor plans
- Includes off‑street parking with driveway and access to a backyard
- Fully vinyl sided exterior
Overview
This four-unit residential income property is fully vinyl sided and configured as four legal units, with all units being 2-bedroom layouts. The apartments are described as being in great condition and feature full kitchens, full bathrooms, and light-filled bedrooms with convenient floor plans.
The building includes off-street parking with a driveway and also has a backyard. The property is presented as family owned and well maintained, with the seller reporting owner occupancy of two units over nearly 15 years.
Designed to serve both investors and owner-occupants, the mix of fully independent 2-bedroom units can support steady residential use while allowing an owner to occupy one or more units. With off-street parking and outdoor space, it may be well suited for tenants who value practical daily conveniences. Shown as an owner-occupied offering, it provides an opportunity to acquire a legal four-unit multifamily asset in New Bedford.
The building includes off-street parking with a driveway and also has a backyard. The property is presented as family owned and well maintained, with the seller reporting owner occupancy of two units over nearly 15 years.
Designed to serve both investors and owner-occupants, the mix of fully independent 2-bedroom units can support steady residential use while allowing an owner to occupy one or more units. With off-street parking and outdoor space, it may be well suited for tenants who value practical daily conveniences. Shown as an owner-occupied offering, it provides an opportunity to acquire a legal four-unit multifamily asset in New Bedford.
Local 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 | $66.6k | $22.20 |
| − Vacancy | −$5.0k | −$1.67 |
| EGI | $61.6k | $20.54 |
| − OpEx | −$18.5k | −$6.16 |
| NOI | $43.1k | $14.37 |
3,000 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$616.1K
$539.1K – $718.7K
NOI $43,124 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$565.6K
$494.9K – $659.8K
NOI $39,590 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$884.6K
$774.0K – $1.03M
NOI $61,920 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- New Bedford
- County
- Bristol
- State
- Massachusetts
- Longitude
- -70.9284317
- Latitude
- 41.6205326
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Owner-occupied 4-unit building offers all 2-bedroom legal apartments with off-street parking and a backyard.
Where is this quadplex located?
The property is located at 191 Bonney St 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: Owner‑occupied 4‑unit property built in 1891, offered as a nearly 3,000 SF multi‑family in the heart of New Bedford; All units are legal 2‑bedroom apartments, with full kitchens and baths; Units are described as being in great condition, with light and bright bedrooms and convenient floor plans
