Four-Unit Multifamily
For Sale
$1,239,000
218 South Ave, Whitman, MA 02382
Well-maintained four-family with separate utilities and recent updates, including a new roof installed in 2023.
Property Size3,511 SF
Days on Market99
Property Features for 218 South Ave
General Information
Standard status
Active
Size
3,511 SF
Total Parking Spaces
14
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,210
Building Details
Building Size
3,511 SF
Year Built
1900
Listing Agency:
Compass
Listed By:
John Heffernan · License #9535241
(617) 529-2030
Source:
Classifiedrealtygroup
Added: Jul 24
Changed: Oct 25
Last Checked: Oct 28 at 5:18AM
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 Compass
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Investment Insights
Based on property information with market context.
This well-maintained four-unit multifamily property offers a mix of layouts across three levels. The first-floor unit spans the entire level and includes three bedrooms, a bright living room, a separate eat-in kitchen, and a full bathroom. The second floor is divided into two units: Unit 2 has a living room, eat-in kitchen, one bedroom, and a full bath, while Unit 3 offers an open-concept kitchen and living area, one bedroom, and a full bathroom. The fourth unit occupies the entire third floor and includes two bedrooms, a living room, kitchen, and a full bathroom.
Units 1, 2, and 3 each have separate gas meters, electrical panels, gas-fired boilers for heat, and individual hot water tanks. Unit 4 also has its own gas meter, electrical panel, and hot water tank, with newer electric baseboard heat and a newer in-unit gas-fired heater. Recent improvements include a new roof installed in 2023 and numerous updates throughout the property, supported by low-maintenance systems.
The property includes ample off-street parking and is described as being conveniently located near shopping, restaurants, public transportation, schools, and major commuter routes.
Units 1, 2, and 3 each have separate gas meters, electrical panels, gas-fired boilers for heat, and individual hot water tanks. Unit 4 also has its own gas meter, electrical panel, and hot water tank, with newer electric baseboard heat and a newer in-unit gas-fired heater. Recent improvements include a new roof installed in 2023 and numerous updates throughout the property, supported by low-maintenance systems.
The property includes ample off-street parking and is described as being conveniently located near shopping, restaurants, public transportation, schools, and major commuter routes.
Key Highlights
- Four‑family property with well‑maintained units: Unit 1 (3BR) and Units 2–4 with 1BR layouts and Unit 4 as a full third‑floor 2BR unit
- Separate utilities for Units 1–3: separate gas meters, electrical panels, gas‑fired boilers for heat, and individual hot water tanks
- Unit 4 also has its own gas meter, electrical panel, and hot water tank, plus newer electric baseboard heat and a newer in‑unit gas‑fired heater
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,337
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,186,740
$1.2M
Cap Rate 7%
$847,671
$847.7K
Cap Rate 9%
$659,300
$659.3K
Market Conditions
NOI Build-Up for 3,511 SF
Gross rent
$89.5K $25.50/SF
− Vacancy
−$4.8K −$1.36/SF
EGI
$84.8K $24.14/SF
− OpEx
−$25.4K −$7.24/SF
NOI
$59.3K $16.90/SF
Area
Plymouth County, MA
Vacancy
5.32%
Lease Rate
$25.50 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,186,740
Cap Rate 7%
$847,671
Cap Rate 9%
$659,300
Alternative Uses
Best Use
Multifamily LT 5
$847.7K
$741.7K – $989.0K
NOI $59,337 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$781.2K
$683.6K – $911.5K
NOI $54,687 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$2.08M
$1.82M – $2.42M
NOI $145,495 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Explore this area
Business Placement
Demographics for 02382, MA
15,121
Population
6,031
Households
2.5
Avg Household Size
41
Median Age
29%
College-Educated
95%
High-School Grad
6.9 sq mi
ZIP Area
2,191
Density / Sq Mi
$107,794
Median Household Income
$53,875
Median Earnings
$1,785
Median Rent
$456,400
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 - Well-maintained four-family with separate utilities and recent updates, including a new roof installed in 2023.
Where is this quadplex located?
The property is located at 218 South Ave Whitman, MA.
What is the asking price?
The asking price for this property is $1,239,000.
What are key features of this property?
This property features: Four‑family property with well‑maintained units: Unit 1 (3BR) and Units 2–4 with 1BR layouts and Unit 4 as a full third‑floor 2BR unit; Separate utilities for Units 1–3: separate gas meters, electrical panels, gas‑fired boilers for heat, and individual hot water tanks; Unit 4 also has its own gas meter, electrical panel, and hot water tank, plus newer electric baseboard heat and a newer in‑unit gas‑fired heater
