6-Unit Corner Apartment
205 Andover, Andover, MA 01810
For Sale
New
$1,850,000
Off-street parking serves a fully occupied property in Andover’s Ballardvale section.
Property Size4,912 SF
Price / SF$376.63
Days on Market7
Property Features for 205 Andover
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Occupancy
Additional Details
Public Transit
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Carl Christie
Listed By:
Carl Christie · License #9521806
(617) 942-1137
Source:
Condonrealty
Added: Nov 3
Changed: Nov 8
Last Checked: Nov 8 at 10:32AM
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 Carl Christie
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,912-square-foot apartment building has six units and occupies a corner site. Built in 1875, the property includes off-street parking and is fully occupied. Its zoning designation is GB.
The building is in Andover’s Ballardvale section, within walking distance of commuter rail service.
The building is in Andover’s Ballardvale section, within walking distance of commuter rail service.
Key Highlights
- Six‑unit apartment building on a corner site
- 4,912 square feet; built in 1875
- Fully occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,694
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,493,880
$1.5M
Cap Rate 7%
$1,067,057
$1.1M
Cap Rate 9%
$829,933
$829.9K
Market Conditions
NOI Build-Up for 4,912 SF
Gross rent
$141.5K $28.80/SF
− Vacancy
−$5.7K −$1.15/SF
EGI
$135.8K $27.65/SF
− OpEx
−$61.1K −$12.44/SF
NOI
$74.7K $15.21/SF
Area
Essex County, MA
Vacancy
4.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,493,880
Cap Rate 7%
$1,067,057
Cap Rate 9%
$829,933
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$933.7K – $1.24M
NOI $74,694 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.91M
$2.54M – $3.39M
NOI $203,552 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
Explore this area
Business Placement
Demographics for 01810, MA
35,621
Population
13,803
Households
2.6
Avg Household Size
43
Median Age
75%
College-Educated
97%
High-School Grad
30.5 sq mi
ZIP Area
1,168
Density / Sq Mi
$167,591
Median Household Income
$86,838
Median Earnings
$2,046
Median Rent
$813,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Essex County, MA
Properties on Market for Apartment buildings in Essex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Off-street parking serves a fully occupied property in Andover’s Ballardvale section.
Where is this apartment building located?
The property is located at 205 Andover Andover, MA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Six‑unit apartment building on a corner site; 4,912 square feet; built in 1875; Fully occupied
