3-Unit Multifamily
New
For Sale
$849,000
231-233 Vernon St, Rockland, MA 02370
Each apartment has separate gas and electric meters, with shared laundry access in the basement.
Property Size1,938 SF
Days on Market3
Property Features for 231-233 Vernon St
General Information
Standard status
Active
Size
1,938 SF
Total Parking Spaces
8
Property subtype
3 Family - 3 Units Up/Down
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Individually Metered Utilities
gas, electricity
Additional Details
Gross Income
$71,400
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$8,605
Amenities
basement washer and dryer access
Building Details
Building Size
1,938 SF
Year Built
1930
Buildings
1
Listing Agency:
Keller Williams South Watuppa
Listed By:
Mina Shenouda
(508) 308-9312
Source:
Allisonmazer
Added: Oct 28
Changed: Oct 30
Last Checked: Oct 30 at 2:07PM
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 Keller Williams South Watuppa
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1930, this three-unit property contains two one-bedroom, one-bathroom apartments and one two-bedroom, one-bathroom apartment. All three units are occupied under leases running through November 30, 2027. The third apartment has an updated kitchen with stainless steel appliances and a deck. Residents have access to basement laundry, and the property includes eight off-street parking spaces.
Gas and electricity are separately metered for each unit. Building improvements include a roof replaced in 2019 and a Burnham boiler installed in 2010. Three water heaters serve the property; two are less than two years old, and the third is approximately eight years old.
The property is near shopping, restaurants, a local Park & Ride, walking and biking trails, public transportation, and Route 3 in Rockland, Massachusetts.
Gas and electricity are separately metered for each unit. Building improvements include a roof replaced in 2019 and a Burnham boiler installed in 2010. Three water heaters serve the property; two are less than two years old, and the third is approximately eight years old.
The property is near shopping, restaurants, a local Park & Ride, walking and biking trails, public transportation, and Route 3 in Rockland, Massachusetts.
Key Highlights
- Three apartments: two 1‑bedroom, 1‑bathroom units and one 2‑bedroom, 1‑bathroom unit
- All 3 units are occupied with leases through November 30, 2027
- 8 off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,753
Cap Rate
3.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$655,060
$655.1K
Cap Rate 7%
$467,900
$467.9K
Cap Rate 9%
$363,922
$363.9K
Market Conditions
NOI Build-Up for 1,938 SF
Gross rent
$49.4K $25.50/SF
− Vacancy
−$2.6K −$1.36/SF
EGI
$46.8K $24.14/SF
− OpEx
−$14.0K −$7.24/SF
NOI
$32.8K $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%
$655,060
Cap Rate 7%
$467,900
Cap Rate 9%
$363,922
Alternative Uses
Best Use
Multifamily LT 5
$467.9K
$409.4K – $545.9K
NOI $32,753 @ 7.0% cap · market cap 3.86%
Second Best
Apartment 5plus
$431.2K
$377.3K – $503.1K
NOI $30,186 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,310 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
Explore this area
Business Placement
Demographics for 02370, MA
17,803
Population
7,046
Households
2.5
Avg Household Size
43
Median Age
34%
College-Educated
96%
High-School Grad
10.0 sq mi
ZIP Area
1,780
Density / Sq Mi
$101,475
Median Household Income
$59,489
Median Earnings
$1,497
Median Rent
$452,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Each apartment has separate gas and electric meters, with shared laundry access in the basement.
Where is this triplex located?
The property is located at 231-233 Vernon St Rockland, MA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Three apartments: two 1‑bedroom, 1‑bathroom units and one 2‑bedroom, 1‑bathroom unit; All 3 units are occupied with leases through November 30, 2027; 8 off‑street parking spaces
