Four-Unit Residential Income
New
For Sale
$649,900
199-203 Austin St, New Bedford, MA 02740
Well-maintained four-unit property with off-street parking and a fully fenced green backyard.
Days on Market4
Property Features for 199-203 Austin St
General Information
Standard status
Active
Property subtype
Investment
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Amenities
fully fenced green backyard
Building Details
Building Size
4,000 SF
Year Built
1900
Buildings
1
Stories
4
Tenancy
Multi
Listing Agency:
(774) 304-2198
Listed By:
Lily Bertoncini
(774) 304-2198
Source:
Elliman
Added: Jul 28
Changed: Jul 29
Last Checked: Jul 30 at 9:00AM
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 Lily Bertoncini
Investment Insights
Based on property information with market context.
This four-unit residential income property is newly offered and well maintained. The exterior features vinyl siding, and the site includes a fully fenced green backyard and off-street parking. The building offers three units in great shape and one one-bedroom unit that is described as fair. An unfinished fourth-floor area with multiple rooms includes space that could support a bathroom, providing flexibility to reconfigure the layout or potentially add an additional unit.
Tenants are identified as at-will and are responsible for all utilities. Reported rental income includes $1,800 for two 3-bedroom units, $1,400 for one 2-bedroom unit, and $1,200 for one 1-bedroom unit.
Situated on Austin St, the property is positioned for tenant convenience with access described as just minutes to downtown New Bedford, along with nearby shopping, dining, parks, and waterfront.
Tenants are identified as at-will and are responsible for all utilities. Reported rental income includes $1,800 for two 3-bedroom units, $1,400 for one 2-bedroom unit, and $1,200 for one 1-bedroom unit.
Situated on Austin St, the property is positioned for tenant convenience with access described as just minutes to downtown New Bedford, along with nearby shopping, dining, parks, and waterfront.
Key Highlights
- Four‑unit multi‑family property with 4,000+ SF, built in 1900
- Current rental income: $1,800 (3BR), $1,800 (3BR), $1,400 (2BR), and $1,200 (1BR)
- Off‑street parking and a fully fenced green backyard
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 | $88.8k | $22.20 |
| − Vacancy | −$6.7k | −$1.67 |
| EGI | $82.1k | $20.54 |
| − OpEx | −$24.6k | −$6.16 |
| NOI | $57.5k | $14.37 |
4,000 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$821.4K
$718.7K – $958.3K
NOI $57,498 @ 7.0% cap · market cap 8.85%
Second Best
Apartment 5plus
$754.1K
$659.8K – $879.8K
NOI $52,787 @ 7.0% cap · market cap 8.12%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,560 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
757
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained four-unit property with off-street parking and a fully fenced green backyard.
Where is this quadplex located?
The property is located at 199-203 Austin St New Bedford, MA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Four‑unit multi‑family property with 4,000+ SF, built in 1900; Current rental income: $1,800 (3BR), $1,800 (3BR), $1,400 (2BR), and $1,200 (1BR); Off‑street parking and a fully fenced green backyard
