Victorian 5-Unit Apartment
29-31 Sprague Street Malden, MA 02148
For Sale
$1,500,000
Five residential units total, including four one-bedrooms and one three-bedroom, with off-street parking on-site.
Property Size4,057 SF
Price / SF$369.73
Days on Market48
Property Features for 29-31 Sprague Street
General Information
- Standard status
- Active
- Size
- 4,057 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing Agency:
Greater Metropolitan R. E.
Listed By:
Ryan Foley
(781) 233-1401
Source:
Littlefieldre
Added: Jun 6
Changed: Jul 22
Last Checked: Jul 23 at 7:15AM
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 Greater Metropolitan R. E.
Investment Insights
Based on property information with market context.
29-31 Sprague Street is an exceptional 5-unit Victorian apartment building featuring four one-bedroom units and one three-bedroom unit. The property’s period-style architecture and curb appeal are prominent, and it includes off-street parking, an added amenity for residents and guests.
The building is located on a picturesque, tree-lined street in Malden. Public remarks note convenient access to public transportation, major routes, shopping, and dining, supporting day-to-day livability and rental demand in the surrounding area.
The building is located on a picturesque, tree-lined street in Malden. Public remarks note convenient access to public transportation, major routes, shopping, and dining, supporting day-to-day livability and rental demand in the surrounding area.
Key Highlights
- 5‑unit Victorian built in 1900 with four 1‑bedroom units and one 3‑bedroom unit
- Off‑street parking on‑site
- Includes a strong unit mix: four 1‑bedrooms plus one 3‑bedroom unit
Financial Insights For Apartment 5plus
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 | $154.8k | $38.16 |
| − Vacancy | −$8.1k | −$1.98 |
| EGI | $146.8k | $36.18 |
| − OpEx | −$66.0k | −$16.28 |
| NOI | $80.7k | $19.90 |
4,057 SF · lease $38.16/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.01M – $1.35M
NOI $80,721 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $168,121 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Five residential units total, including four one-bedrooms and one three-bedroom, with off-street parking on-site.
Where is this apartment building located?
The property is located at 29-31 Sprague Street Malden, MA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 5‑unit Victorian built in 1900 with four 1‑bedroom units and one 3‑bedroom unit; Off‑street parking on‑site; Includes a strong unit mix: four 1‑bedrooms plus one 3‑bedroom unit
