Mixed-Use 3-Unit Property with
2 West Street Lowell, MA 01850
2 West Street, Lowell, MA, 01850
$399,000
For Sale
$399,000
Fully occupied three-unit property with two residences and a ground-floor salon, each with separate entrances.
Property Size1,410 SF
Price / SF$282.98
Days on Market90
Property Features for 2 West Street
General Information
- Standard status
- Active
- Size
- 1,410 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1890
Listing agency
Dick Lepine Real Estate,Inc.
Listed by
Michael McDowell
(978) 537-8301
Source
Foster-healey
Added: Apr 24 Updated: Jul 22 at 11:28AM Checked: Jul 22 at 11:28AM
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 Dick Lepine Real Estate,Inc.
Investment Insights
Based on property information with market context.
This mixed-use, three-unit property includes two residential units and one commercial unit operating as a salon. The residential portion consists of a 2-bedroom unit and a 1-bedroom unit. The property is fully occupied and features separate entrances for the units, along with newer flooring. A brand new, energy-efficient gas boiler services all three units.
Located in Centralville at 2 West Street in Lowell, MA, the building offers an owner-occupant-friendly configuration with on-site commercial use. The current financials are described as a 9% cap rate with average rents, supporting multiple ownership options depending on how the property is positioned.
Located in Centralville at 2 West Street in Lowell, MA, the building offers an owner-occupant-friendly configuration with on-site commercial use. The current financials are described as a 9% cap rate with average rents, supporting multiple ownership options depending on how the property is positioned.
Key Highlights
- 1890‑built, fully occupied 3‑unit mixed‑use property with two residential units and one commercial unit
- Residential mix: one 2‑bedroom and one 1‑bedroom unit
- Ground‑floor commercial unit currently operates as a salon
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 | $43.1k | $30.60 |
| − Vacancy | −$3.2k | −$2.30 |
| EGI | $39.9k | $28.31 |
| − OpEx | −$12.0k | −$8.49 |
| NOI | $27.9k | $19.81 |
1,410 SF · lease $30.60/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$399.1K
$349.2K – $465.6K
NOI $27,937 @ 7.0% cap · market cap 7.00%
Second Best
Apartment 5plus
$359.3K
$314.4K – $419.2K
NOI $25,152 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$496.3K
$434.2K – $579.0K
NOI $34,739 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Fully occupied three-unit property with two residences and a ground-floor salon, each with separate entrances.
Where is this triplex located?
The property is located at 2 West Street Lowell, MA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1890‑built, fully occupied 3‑unit mixed‑use property with two residential units and one commercial unit; Residential mix: one 2‑bedroom and one 1‑bedroom unit; Ground‑floor commercial unit currently operates as a salon
