Four-Unit Residential Income
For Sale
$999,000
22-24 Floyd Street, Lowell, MA 01852
Four-unit property with ten bedrooms, positioned for convenient access to Lowell area schools and major highways.
Property Size5,068 SF
Price / SF$197.12
Days on Market26
Property Features for 22-24 Floyd Street
General Information
Standard status
Active
Size
5,068 SF
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Multifamily Units
4
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
High Quality Real Estate LLC
Listed By:
Ranjan Thapa
(617) 846-8000
Source:
Highlandre
Added: Jul 18
Changed: Aug 12
Last Checked: Aug 12 at 3:22AM
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 High Quality Real Estate LLC
Investment Insights
Based on property information with market context.
This four-unit residential income property includes ten bedrooms across the building’s four separate units. It is offered for sale as a multi-family investment or owner-occupied income option.
The property is located in Lowell, Massachusetts, just minutes from UMass Lowell, Middlesex Community College, and downtown Lowell. Area access includes nearby restaurants, breweries, shopping, Lowell National Historical Park, the Tsongas Center, Merrimack Repertory Theatre, and major routes including Route 3, Route 110, and I-495. Lowell Commuter Rail is also nearby, providing a direct connection to Boston.
With four units total, the layout is designed to support income generation, and the property benefits from being in a neighborhood identified in the remarks as one of Lowell’s fastest-growing areas.
The property is located in Lowell, Massachusetts, just minutes from UMass Lowell, Middlesex Community College, and downtown Lowell. Area access includes nearby restaurants, breweries, shopping, Lowell National Historical Park, the Tsongas Center, Merrimack Repertory Theatre, and major routes including Route 3, Route 110, and I-495. Lowell Commuter Rail is also nearby, providing a direct connection to Boston.
With four units total, the layout is designed to support income generation, and the property benefits from being in a neighborhood identified in the remarks as one of Lowell’s fastest-growing areas.
Key Highlights
- Four‑unit property with 10 bedrooms total
- Built in 1900
- Minutes to UMass Lowell and Middlesex Community College
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$90,405
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,808,100
$1.8M
Cap Rate 7%
$1,291,500
$1.3M
Cap Rate 9%
$1,004,500
$1.0M
Market Conditions
NOI Build-Up for 5,068 SF
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.
Gross rent
$176.4K $34.80/SF
− Vacancy
−$12.0K −$2.37/SF
EGI
$164.4K $32.43/SF
− OpEx
−$74.0K −$14.60/SF
NOI
$90.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,808,100
Cap Rate 7%
$1,291,500
Cap Rate 9%
$1,004,500
Alternative Uses
Best Use
Multifamily LT 5
$1.43M
$1.26M – $1.67M
NOI $100,415 @ 7.0% cap · market cap 10.05%
Second Best
Apartment 5plus
$1.29M
$1.13M – $1.51M
NOI $90,405 @ 7.0% cap · market cap 9.05%
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,863 @ 7.0% cap · market cap 12.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,794
Businesses Nearby
Explore this area
Business Placement
Demographics for 01852, MA
36,708
Population
15,363
Households
2.4
Avg Household Size
37
Median Age
33%
College-Educated
86%
High-School Grad
5.0 sq mi
ZIP Area
7,342
Density / Sq Mi
$77,058
Median Household Income
$48,976
Median Earnings
$1,567
Median Rent
$397,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with ten bedrooms, positioned for convenient access to Lowell area schools and major highways.
Where is this quadplex located?
The property is located at 22-24 Floyd Street Lowell, MA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Four‑unit property with 10 bedrooms total; Built in 1900; Minutes to UMass Lowell and Middlesex Community College
