8-Unit Apartment
For Sale
$2,399,000
289 North Ave, Abington, MA 02351
Eight one-bedroom apartments offer off-street parking, separate utilities, and individual central air.
Property Size5,571 SF
Days on Market48
Property Features for 289 North Ave
General Information
Standard status
Active
Size
5,571 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
8 x 1BR
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$21,252
Building Details
Building Size
5,571 SF
Year Built
2009
Buildings
1
Stories
5
Units
8
Listing Agency:
RE/MAX Realty Pros
Listed By:
Tom McFarland · License #9008924
(617) 851-0900
Source:
Elliman
Added: Sep 8
Changed: Oct 14
Last Checked: Oct 24 at 7:25PM
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 RE/MAX Realty Pros
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Investment Insights
Based on property information with market context.
This 8-unit apartment building was constructed in 2009 and contains an all-one-bedroom unit mix. Each residence features hardwood flooring, granite countertops, recessed lighting, central air, and separate utilities. Off-street parking is provided for the property.
The building is situated along Route 18, with shopping, restaurants, schools, and commuter rail located minutes away. WalkScore is 41 and BikeScore is 40, reflecting a car-dependent setting with some biking access.
The building is situated along Route 18, with shopping, restaurants, schools, and commuter rail located minutes away. WalkScore is 41 and BikeScore is 40, reflecting a car-dependent setting with some biking access.
Key Highlights
- 8‑unit apartment building constructed in 2009
- All units are one‑bedroom apartments
- Hardwood floors, granite counters, recessed lights, and central air in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,774
Cap Rate
3.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,735,480
$1.7M
Cap Rate 7%
$1,239,629
$1.2M
Cap Rate 9%
$964,156
$964.2K
Market Conditions
NOI Build-Up for 5,571 SF
Gross rent
$167.1K $30.00/SF
− Vacancy
−$9.4K −$1.68/SF
EGI
$157.8K $28.32/SF
− OpEx
−$71.0K −$12.74/SF
NOI
$86.8K $15.58/SF
Area
Plymouth County, MA
Vacancy
5.60%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,735,480
Cap Rate 7%
$1,239,629
Cap Rate 9%
$964,156
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.08M – $1.45M
NOI $86,774 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.30M
$2.89M – $3.85M
NOI $230,861 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
Explore this area
Business Placement
Demographics for 02351, MA
17,085
Population
6,576
Households
2.6
Avg Household Size
41
Median Age
40%
College-Educated
96%
High-School Grad
10.0 sq mi
ZIP Area
1,709
Density / Sq Mi
$119,787
Median Household Income
$61,646
Median Earnings
$1,547
Median Rent
$516,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight one-bedroom apartments offer off-street parking, separate utilities, and individual central air.
Where is this apartment building located?
The property is located at 289 North Ave Abington, MA.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: 8‑unit apartment building constructed in 2009; All units are one‑bedroom apartments; Hardwood floors, granite counters, recessed lights, and central air in each unit
