4-Unit Multifamily
New
For Sale
$1,200,000
24 Chelmsford Street, Chelmsford, MA 01824
Tenant-occupied apartments offer varied layouts, supplemental office space, and access to nearby shops, restaurants, transit, and trail connections.
Property Size3,760 SF
Price / SF$319.15
Days on Market5
Property Features for 24 Chelmsford Street
General Information
Standard status
Active
Size
3,760 SF
Property subtype
Multi-family
Occupancy
100%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x studio, 1 x 1BR, 2 x 2BR
Multifamily Units
4
Building Details
Year Built
1890
Buildings
1
Listing Agency:
Doherty Properties
Listed By:
Christian Doherty · License #456015020
(978) 857-9580
Source:
Merryfoxrealty
Added: Oct 13
Changed: Oct 16
Last Checked: Oct 16 at 8:30AM
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 Doherty Properties
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Investment Insights
Based on property information with market context.
Built in 1890, this 3,760-square-foot multifamily property contains four tenant-occupied apartments: one studio, one one-bedroom unit, and two two-bedroom units. Additional office space and a full basement provide further usable area. Kitchens in Units 1–3 have stainless steel appliances and tile backsplashes; Units 2 and 3 include heated bathroom floors. Unit 2 also has a primary bathroom with a shower. Off-street parking serves the property.
The property sits along the Bruce Freeman Rail Trail in Chelmsford Center, with restaurants, shops, public transportation, and everyday services nearby. Recent work includes a new driveway and hardscaping in 2023, replacement basement drainage pipes in 2022, a new steam boiler for Unit 4 in 2025, and a side porch installed in 2026.
Each apartment has separate electric and gas meters. Owner-paid services include water and sewer, hot water, and electricity for the basement and common areas through a separate panel. A separate owner-paid gas meter serves the on-demand water heaters for all four units.
The property sits along the Bruce Freeman Rail Trail in Chelmsford Center, with restaurants, shops, public transportation, and everyday services nearby. Recent work includes a new driveway and hardscaping in 2023, replacement basement drainage pipes in 2022, a new steam boiler for Unit 4 in 2025, and a side porch installed in 2026.
Each apartment has separate electric and gas meters. Owner-paid services include water and sewer, hot water, and electricity for the basement and common areas through a separate panel. A separate owner-paid gas meter serves the on-demand water heaters for all four units.
Key Highlights
- Four tenant‑occupied apartments: a studio, one one‑bedroom, and two two‑bedroom units
- 3,760 square feet; built in 1890
- Located along the Bruce Freeman Rail Trail in Chelmsford Center
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,563
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,591,260
$1.6M
Cap Rate 7%
$1,136,614
$1.1M
Cap Rate 9%
$884,033
$884.0K
Market Conditions
NOI Build-Up for 3,760 SF
Gross rent
$119.6K $31.80/SF
− Vacancy
−$5.9K −$1.57/SF
EGI
$113.7K $30.23/SF
− OpEx
−$34.1K −$9.07/SF
NOI
$79.6K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,591,260
Cap Rate 7%
$1,136,614
Cap Rate 9%
$884,033
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$994.5K – $1.33M
NOI $79,563 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$1.07M
$935.1K – $1.25M
NOI $74,811 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $155,813 @ 7.0% cap · market cap 12.98%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,105
Businesses Nearby
Explore this area
Business Placement
Demographics for 01824, MA
26,881
Population
10,301
Households
2.6
Avg Household Size
44
Median Age
57%
College-Educated
96%
High-School Grad
18.1 sq mi
ZIP Area
1,485
Density / Sq Mi
$141,337
Median Household Income
$75,753
Median Earnings
$2,076
Median Rent
$590,900
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 - Tenant-occupied apartments offer varied layouts, supplemental office space, and access to nearby shops, restaurants, transit, and trail connections.
Where is this quadplex located?
The property is located at 24 Chelmsford Street Chelmsford, MA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Four tenant‑occupied apartments: a studio, one one‑bedroom, and two two‑bedroom units; 3,760 square feet; built in 1890; Located along the Bruce Freeman Rail Trail in Chelmsford Center
