Flexible-Layout Multifamily
New
For Sale
$795,000
243 Appleton Street, Lowell, MA 01852
Six bedrooms and three bathrooms are arranged across adaptable floor plans, with the upper levels usable as one or two units.
Property Size2,749 SF
Price / SF$289.20
Days on Market5
Property Features for 243 Appleton Street
General Information
Standard status
Active
Size
2,749 SF
Property subtype
Multi-family
Additional Details
Gross Income
$74,400
Amenities
in-unit washers and dryers
hardwood floors
central A/C
sliding door to a back deck
Building Details
Year Built
1900
Stories
3
Tenancy
Multi
Listing Agency:
Aikenhead Real Estate,Inc.
Listed By:
Mark Halliday
(781) 883-7042
Source:
Stevebremis
Added: Oct 7
Changed: Oct 11
Last Checked: Oct 11 at 10:09AM
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 Aikenhead Real Estate,Inc.
Investment Insights
Based on property information with market context.
This 2,749-square-foot multifamily property at 243 Appleton St in Lowell has six bedrooms and three bathrooms. The second and third floors can function together as a three-bedroom, two-bathroom unit or as separate units; the third floor also has a kitchenette. The first floor includes central A/C and a sliding door to a rear deck. Forced-air heating systems, 100-amp electrical panels with arc-fault breakers, the roof, kitchens and appliances, programmable thermostats, spray foam insulation, in-unit washers and dryers, and hardwood floors are three to five years old. Bathrooms have been refreshed. The building dates to 1900.
The property is across from the Owl Diner and near coffee shops, restaurants, groceries, South Common Park, UMass Lowell, the Lowell commuter rail station, bus service, and downtown museums and amenities. South Common Park includes a swimming pool, basketball facilities, playing fields, a dog park, playground, and walking paths.
The property is across from the Owl Diner and near coffee shops, restaurants, groceries, South Common Park, UMass Lowell, the Lowell commuter rail station, bus service, and downtown museums and amenities. South Common Park includes a swimming pool, basketball facilities, playing fields, a dog park, playground, and walking paths.
Key Highlights
- 2,749‑square‑foot multifamily property with six bedrooms and three bathrooms
- Upper floors can operate as one three‑bedroom, two‑bathroom unit or as two separate units
- Third floor includes a kitchenette; first floor has central A/C and a rear deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,038
Cap Rate
6.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$980,760
$980.8K
Cap Rate 7%
$700,543
$700.5K
Cap Rate 9%
$544,867
$544.9K
Market Conditions
NOI Build-Up for 2,749 SF
Gross rent
$95.7K $34.80/SF
− Vacancy
−$6.5K −$2.37/SF
EGI
$89.2K $32.43/SF
− OpEx
−$40.1K −$14.60/SF
NOI
$49.0K $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 Rate 5%
$980,760
Cap Rate 7%
$700,543
Cap Rate 9%
$544,867
Alternative Uses
Best Use
Apartment 5plus
$700.5K
$613.0K – $817.3K
NOI $49,038 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$967.5K
$846.6K – $1.13M
NOI $67,728 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,241
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Six bedrooms and three bathrooms are arranged across adaptable floor plans, with the upper levels usable as one or two units.
Where is this multifamily property located?
The property is located at 243 Appleton Street Lowell, MA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 2,749‑square‑foot multifamily property with six bedrooms and three bathrooms; Upper floors can operate as one three‑bedroom, two‑bathroom unit or as two separate units; Third floor includes a kitchenette; first floor has central A/C and a rear deck
