Luxury Two-Family
289 Central Street Lowell, MA 01852
289 Central Street, Lowell, MA, 01852
$649,500
For Sale
$649,500
Two fully rebuilt units offer condo-quality finishes, including a two-story upper townhouse and a one-bedroom lower unit.
Property Size2,275 SF
Price / SF$285.49
Days on Market123
Property Features for 289 Central Street
General Information
- Standard status
- Active
- Size
- 2,275 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1830
Listing agency
eXp Realty
Listed by
Candor Investment Group
(781) 878-2478
Source
Trufantre
Added: Mar 22 Updated: Jul 20 at 7:50PM Checked: Jul 21 at 7:41AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This completely rebuilt luxury brick two-family features condo-quality finishes throughout and modern systems. The upper unit is a two-story townhouse-style layout with two bedrooms and two and a half baths. The lower unit is a one-bedroom, one-bath residence with a fully finished interior. New mechanical components include a brand new furnace and hot water tank. Residents also benefit from shared outdoor space and ample storage in a clean, dry basement.
The property is located in the heart of downtown Lowell, within steps of the commuter rail and close to dining and the area’s arts scene.
Garage parking is available for a small annual fee, supporting convenient on-site parking for tenants or an owner-occupant.
The property is located in the heart of downtown Lowell, within steps of the commuter rail and close to dining and the area’s arts scene.
Garage parking is available for a small annual fee, supporting convenient on-site parking for tenants or an owner-occupant.
Key Highlights
- Completely rebuilt luxury brick two‑family (year built listed as 1830) with condo‑quality finishes in both units
- Upper unit is a two‑story townhouse‑style layout with 2 bedrooms and 2.5 baths
- Lower unit offers a finished 1‑bedroom, 1‑bath layout
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $69.6k | $30.60 |
| − Vacancy | −$5.2k | −$2.30 |
| EGI | $64.4k | $28.31 |
| − OpEx | −$19.3k | −$8.49 |
| NOI | $45.1k | $19.81 |
2,275 SF · lease $30.60/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$643.9K
$563.5K – $751.3K
NOI $45,076 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$579.8K
$507.3K – $676.4K
NOI $40,583 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$800.7K
$700.6K – $934.2K
NOI $56,050 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two fully rebuilt units offer condo-quality finishes, including a two-story upper townhouse and a one-bedroom lower unit.
Where is this duplex located?
The property is located at 289 Central Street Lowell, MA.
What is the asking price?
The asking price for this property is $649,500.
What are key features of this property?
This property features: Completely rebuilt luxury brick two‑family (year built listed as 1830) with condo‑quality finishes in both units; Upper unit is a two‑story townhouse‑style layout with 2 bedrooms and 2.5 baths; Lower unit offers a finished 1‑bedroom, 1‑bath layout
