Two-Property Quadplex
For Sale
$579,000
Pending
2 Hill St, Southbridge, MA 01550
Eight two-bedroom units with tenant-paid gas heat and electricity, separate meters, garages, laundry, and off-street parking.
Property Size3,260 SF
Days on Market49
Property Features for 2 Hill St
General Information
Standard status
Pending
Size
3,260 SF
Total Parking Spaces
20
Property subtype
Multifamily
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$6,128
Building Details
Building Size
3,260 SF
Year Built
1900
Buildings
2
Listing Agency:
Settlers Realty Group, LLC
Listed By:
Sergio Froes Oliveira · License #9557598
(508) 371-7469
Source:
Classifiedrealtygroup
Added: Sep 12
Changed: Oct 25
Last Checked: Oct 28 at 5:19AM
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 Settlers Realty Group, LLC
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Investment Insights
Based on property information with market context.
This offering combines the neighboring properties at 2 Hill St and 6 Hill St in Southbridge as a single transaction. Each building is configured as a 4-family property, creating a combined total of 8 residential units with 2 bedrooms per unit. The buildings date to 1900 and are being offered in as-is condition.
Residential units are tenant occupied except for any vacancy disclosed at the time of showing. Tenants pay their own gas heat and electricity, while high-efficiency gas heating systems and separately metered electric service support the property configuration. Additional property features include garage bays leased separately, coin-operated laundry, and a large off-street parking area. The two properties must be purchased together and will not be sold individually.
Residential units are tenant occupied except for any vacancy disclosed at the time of showing. Tenants pay their own gas heat and electricity, while high-efficiency gas heating systems and separately metered electric service support the property configuration. Additional property features include garage bays leased separately, coin-operated laundry, and a large off-street parking area. The two properties must be purchased together and will not be sold individually.
Key Highlights
- Package includes 2 Hill St and 6 Hill St; properties will not be sold separately
- Two neighboring 4‑family properties with a combined total of 8 residential units
- Each residential unit has 2 bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,068
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$881,360
$881.4K
Cap Rate 7%
$629,543
$629.5K
Cap Rate 9%
$489,644
$489.6K
Market Conditions
NOI Build-Up for 3,260 SF
Gross rent
$64.5K $19.80/SF
− Vacancy
−$1.6K −$0.49/SF
EGI
$63.0K $19.31/SF
− OpEx
−$18.9K −$5.79/SF
NOI
$44.1K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$881,360
Cap Rate 7%
$629,543
Cap Rate 9%
$489,644
Alternative Uses
Best Use
Multifamily LT 5
$629.5K
$550.9K – $734.5K
NOI $44,068 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$547.9K
$479.4K – $639.2K
NOI $38,351 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$1.11M
$974.1K – $1.30M
NOI $77,927 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
894
Businesses Nearby
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Business Placement
Demographics for 01550, MA
17,740
Population
7,644
Households
2.3
Avg Household Size
39
Median Age
18%
College-Educated
82%
High-School Grad
20.2 sq mi
ZIP Area
878
Density / Sq Mi
$59,397
Median Household Income
$41,365
Median Earnings
$1,157
Median Rent
$267,000
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 - Eight two-bedroom units with tenant-paid gas heat and electricity, separate meters, garages, laundry, and off-street parking.
Where is this quadplex located?
The property is located at 2 Hill St Southbridge, MA.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: Package includes 2 Hill St and 6 Hill St; properties will not be sold separately; Two neighboring 4‑family properties with a combined total of 8 residential units; Each residential unit has 2 bedrooms
