5-Unit Townhouse Apartment
New
For Sale
$1,475,000
263 South Street, Holliston, MA 01746
Townhouse-style residences offer private layouts, in-unit laundry, shared outdoor space, and separate utility metering.
Property Size6,582 SF
Lot Size4.07 Acres
Price / SF$224.10
Days on Market6
Property Features for 263 South Street
General Information
Standard status
Active
Size
6,582 SF
Total Parking Spaces
9
Lot size
4.07 Acres
Property subtype
Multi-family
Units
Unit Mix
1 x 3BR/2BA, 1 x 3BR/1BA, 3 x 2BR/1BA
Multifamily Units
5
Additional Details
Utilities to Site
Yes
Amenities
in-unit laundry
shared backyard
Building Details
Year Built
1981
Listing Agency:
Horvath & Tremblay
Listed By:
Kelleher - Pentore Team
(603) 352-5533
Source:
Hgjohnsonrealestate
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 29 at 9:18AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
This 5-unit apartment property comprises four townhouse residences and one single-level apartment positioned above detached garage space. The unit mix includes one 3-bedroom/2-bathroom residence, one 3-bedroom/1-bathroom residence, and three 2-bedroom/1-bathroom residences, totaling 6,582 square feet of gross living area within 9,615 square feet of gross area. Units 1–4 feature three-level arrangements with basements, primary living floors, and second floors, while Unit 5 is located above the garage bays. Each residence includes in-unit laundry, and Units 1–4 have sliding-door access to a shared backyard.
The property occupies 4.07 acres and is bordered by 25 acres of Conservation land. Parking includes nine garage spaces and additional surface parking. A detached, two-story structure provides six-car garage parking and finished space above, with potential for an additional apartment. Units 3 and 5 received new heat pump systems within the last 2 years, and all apartments received new A/C systems within the last 10 years. Apartments are separately metered, with tenants responsible for heat, hot water, central air conditioning, and electric service.
The property occupies 4.07 acres and is bordered by 25 acres of Conservation land. Parking includes nine garage spaces and additional surface parking. A detached, two-story structure provides six-car garage parking and finished space above, with potential for an additional apartment. Units 3 and 5 received new heat pump systems within the last 2 years, and all apartments received new A/C systems within the last 10 years. Apartments are separately metered, with tenants responsible for heat, hot water, central air conditioning, and electric service.
Key Highlights
- Five apartment units with 6,582 square feet of gross living area and 9,615 square feet of gross area
- Unit mix includes one 3‑bedroom/2‑bathroom, one 3‑bedroom/1‑bathroom, and three 2‑bedroom/1‑bathroom residences
- Property occupies 4.07 acres surrounded by 25 acres of Conservation land
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$130,960
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,619,200
$2.6M
Cap Rate 7%
$1,870,857
$1.9M
Cap Rate 9%
$1,455,111
$1.5M
Market Conditions
NOI Build-Up for 6,582 SF
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.
Gross rent
$251.2K $38.16/SF
− Vacancy
−$13.1K −$1.98/SF
EGI
$238.1K $36.18/SF
− OpEx
−$107.1K −$16.28/SF
NOI
$131.0K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,619,200
Cap Rate 7%
$1,870,857
Cap Rate 9%
$1,455,111
Alternative Uses
Best Use
Apartment 5plus
$1.87M
$1.64M – $2.18M
NOI $130,960 @ 7.0% cap · market cap 8.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.90M
$3.41M – $4.55M
NOI $272,756 @ 7.0% cap · market cap 18.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Explore this area
Business Placement
Demographics for 01746, MA
14,996
Population
5,774
Households
2.6
Avg Household Size
43
Median Age
66%
College-Educated
96%
High-School Grad
18.7 sq mi
ZIP Area
802
Density / Sq Mi
$154,684
Median Household Income
$75,457
Median Earnings
$1,651
Median Rent
$620,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Townhouse-style residences offer private layouts, in-unit laundry, shared outdoor space, and separate utility metering.
Where is this apartment building located?
The property is located at 263 South Street Holliston, MA.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Five apartment units with 6,582 square feet of gross living area and 9,615 square feet of gross area; Unit mix includes one 3‑bedroom/2‑bathroom, one 3‑bedroom/1‑bathroom, and three 2‑bedroom/1‑bathroom residences; Property occupies 4.07 acres surrounded by 25 acres of Conservation land
