4-Unit Multifamily
New
For Sale
$1,099,999
21 Clare St, Lowell, MA 01854
Four residences feature separate utilities, private entrances, and individual gas heating and cooking.
Property Size5,355 SF
Days on Market3
Property Features for 21 Clare St
General Information
Standard status
Active
Size
5,355 SF
Total Parking Spaces
6
Property subtype
Multifamily
Site & Location
Neighborhood
Acre
Public Transit
Yes
Units
Unit Mix
4 x 3BR/1BA
Multifamily Units
4
Individually Metered Utilities
gas
Taxes and HOA fees
Annual Taxes
$11,555
Amenities
coin laundry
secured storage
Building Details
Building Size
5,355 SF
Year Built
1900
Buildings
1
Listing Agency:
Sapphire Real Estate
Listed By:
Oren Mael
(617) 905-7172
Source:
Classifiedrealtygroup
Added: Oct 23
Last Checked: Oct 24 at 2:10PM
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 Sapphire Real Estate
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Investment Insights
Based on property information with market context.
This four-unit multifamily property contains four three-bedroom, one-bathroom residences, each with a private entrance and separate utilities. Units include a porch or patio and access to third-floor storage rooms that are not currently in use. All residences are fully de-leaded, and Units 21 and 23 were remodeled in 2025; Unit 25 was remodeled in 2026. Improvements include four high-efficiency gas heating systems installed in 2021 and 2022, vinyl siding and a roof installed in 2021, and replacement vinyl windows. The basement has updated circuit-breaker panels, two coin-operated washers, two coin-operated dryers, secured owner storage, and a working toilet.
The property is near UMass Lowell and public transportation. Parking includes two driveways with space for four cars, plus two reserved spots in front of the building.
The property is near UMass Lowell and public transportation. Parking includes two driveways with space for four cars, plus two reserved spots in front of the building.
Key Highlights
- Four three‑bedroom, one‑bathroom units, all fully de‑leaded
- Units 21 and 23 remodeled in 2025; Unit 25 remodeled in 2026
- Four high‑efficiency gas heating systems installed in 2021 and 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$95,525
Cap Rate
8.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,910,500
$1.9M
Cap Rate 7%
$1,364,643
$1.4M
Cap Rate 9%
$1,061,389
$1.1M
Market Conditions
NOI Build-Up for 5,355 SF
Gross rent
$186.4K $34.80/SF
− Vacancy
−$12.7K −$2.37/SF
EGI
$173.7K $32.43/SF
− OpEx
−$78.2K −$14.60/SF
NOI
$95.5K $17.84/SF
Area
Lowell, MA
Vacancy
6.80%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,910,500
Cap Rate 7%
$1,364,643
Cap Rate 9%
$1,061,389
Alternative Uses
Best Use
Multifamily LT 5
$1.52M
$1.33M – $1.77M
NOI $106,101 @ 7.0% cap · market cap 9.65%
Second Best
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,525 @ 7.0% cap · market cap 8.68%
Theoretical Best
Office A
$1.88M
$1.65M – $2.20M
NOI $131,933 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,336
Businesses Nearby
Explore this area
Business Placement
Demographics for 01854, MA
29,561
Population
10,960
Households
2.7
Avg Household Size
31
Median Age
30%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
7,390
Density / Sq Mi
$70,397
Median Household Income
$39,216
Median Earnings
$1,477
Median Rent
$360,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residences feature separate utilities, private entrances, and individual gas heating and cooking.
Where is this quadplex located?
The property is located at 21 Clare St Lowell, MA.
What is the asking price?
The asking price for this property is $1,099,999.
What are key features of this property?
This property features: Four three‑bedroom, one‑bathroom units, all fully de‑leaded; Units 21 and 23 remodeled in 2025; Unit 25 remodeled in 2026; Four high‑efficiency gas heating systems installed in 2021 and 2022
