Five-Unit Multifamily Corner
23 Poplar St Danvers, MA 01923
23 Poplar St, Danvers, MA, 01923
$1,525,000
For Sale
$1,525,000
Corner-lot five-unit multifamily with off-street parking and common laundry, offering a mix of 2BD/1BA and 1BD/1BA units.
Property Size3,653 SF
Price / SF$417.47
Days on Market23
Property Features for 23 Poplar St
General Information
- Standard status
- Active
- Size
- 3,653 SF
- Property subtype
- 5+ Family - 5+ Units Up/Down
Building Details
- Year Built
- 1900
Listing agency
Aluxety
(978) 317-6139
Listed by
The Pizzo Group
(978) 317-6139
Source
Lockandkeyre
Added: Jun 30 Updated: Jul 22 at 9:28AM Checked: Jul 22 at 9:28AM
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 Aluxety
Investment Insights
Based on property information with market context.
Situated at 23 Poplar St in Danvers, this five-unit multifamily property is set on a corner lot and contains approximately 3,653 square feet of living area. The building features a unit mix of five two-bedroom/one-bath and one-bedroom/one-bath residences, with private exterior entrances available for two of the units. Common laundry facilities are included, and off-street parking is offered with two spaces per unit.
The apartments include a combination of updates and refreshed interiors, including updated kitchens, renovated baths, and refreshed flooring in select units. The property retains much of its original character and charm.
The current income is described as approximately $119,000 in annual gross income, supported by five separate units within the building.
The apartments include a combination of updates and refreshed interiors, including updated kitchens, renovated baths, and refreshed flooring in select units. The property retains much of its original character and charm.
The current income is described as approximately $119,000 in annual gross income, supported by five separate units within the building.
Key Highlights
- 5‑unit corner‑lot multifamily building with approx. 3,653 SF of living area
- Unit mix: five units total—2BD/1BA and 1BD/1BA apartments
- Approx. $119,000 in annual gross income
Local Financial Insights For Apartment 5plus
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 | $105.2k | $28.80 |
| − Vacancy | −$4.2k | −$1.15 |
| EGI | $101.0k | $27.65 |
| − OpEx | −$45.4k | −$12.44 |
| NOI | $55.5k | $15.21 |
3,653 SF · lease $28.80/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$793.6K
$694.4K – $925.8K
NOI $55,549 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,379 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Corner-lot five-unit multifamily with off-street parking and common laundry, offering a mix of 2BD/1BA and 1BD/1BA units.
Where is this apartment building located?
The property is located at 23 Poplar St Danvers, MA.
What is the asking price?
The asking price for this property is $1,525,000.
What are key features of this property?
This property features: 5‑unit corner‑lot multifamily building with approx. 3,653 SF of living area; Unit mix: five units total—2BD/1BA and 1BD/1BA apartments; Approx. $119,000 in annual gross income
