Three-Unit Multifamily
New
For Sale
$849,000
231-233 Vernon St, Rockland, MA 02370
Residential Income, Rockland, MA
Property Size1,938 SF
Lot Size0.14 Acres
Price / SF$438.08
Days on Market3
Property Features for 231-233 Vernon St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RESIDE
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 2, Bathroom 3, Bedroom 3
Parking
8
Directions
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Standard status
Active
APN
M:0046 B:0000 L:00920,1157838
Size
1,938 SF
Lot size
0.14 Acres
Additional Details
Tenant in Place
Yes
Individually Metered Utilities
gas, electricity
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8605
Amenities
basement washer and dryer access
Building Details
Year built
1930
Floors in Building
2
Number of units
3
Buildings
1
Listing Agency:
Keller Williams South Watuppa · Keller Williams Realty
Listed By:
Clifford Ponte · License #9554597
(508) 677-3233
Added: Oct 28
Changed: Oct 29
Last Checked: Oct 30 at 2:06AM
MLS# 73596131
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This three-unit residential property in Rockland contains 1,938 square feet on a 0.139-acre lot. The unit mix consists of 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 building includes eight off-street parking spaces and basement laundry access, and gas and electricity are separately metered by unit.
The roof was replaced in 2019, and a Burnham boiler was installed in 2010. The property also has three water heaters: two are less than two years old and one is approximately eight years old. The larger apartment has an updated kitchen, stainless steel appliances, and a deck. Shopping, restaurants, public transportation, a local Park & Ride, walking and biking trails, and Route 3 are nearby.
The roof was replaced in 2019, and a Burnham boiler was installed in 2010. The property also has three water heaters: two are less than two years old and one is approximately eight years old. The larger apartment has an updated kitchen, stainless steel appliances, and a deck. Shopping, restaurants, public transportation, a local Park & Ride, walking and biking trails, and Route 3 are nearby.
Key Highlights
- Three apartments: two 1‑bedroom, 1‑bath units and one 2‑bedroom, 1‑bath unit
- All units occupied under leases through November 30, 2027
- 1,938 square feet on a 0.139‑acre lot
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.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Separate gas and electric meters serve each residence, 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‑bath units and one 2‑bedroom, 1‑bath unit; All units occupied under leases through November 30, 2027; 1,938 square feet on a 0.139‑acre lot
