Victorian 5-Unit Apartment
For Sale
$1,500,000
29-31 Sprague Street, Malden, MA 02148
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 Market127
Property Features for 29-31 Sprague Street
General Information
Standard status
Active
Size
4,057 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
5
Amenities
off-street parking
Building Details
Year Built
1900
Construction
Victorian
Listing Agency:
Greater Metropolitan R. E.
Listed By:
Ryan Bartlett · License #9567880
(781) 223-4234
Source:
Benoitrealestate
Added: Jun 4
Changed: Oct 7
Last Checked: Oct 4 at 7:02AM
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
Estimated NOI and Cap Rate
NOI / Yr
$80,721
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,614,420
$1.6M
Cap Rate 7%
$1,153,157
$1.2M
Cap Rate 9%
$896,900
$896.9K
Market Conditions
NOI Build-Up for 4,057 SF
Gross rent
$154.8K $38.16/SF
− Vacancy
−$8.1K −$1.98/SF
EGI
$146.8K $36.18/SF
− OpEx
−$66.0K −$16.28/SF
NOI
$80.7K $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 Rate 5%
$1,614,420
Cap Rate 7%
$1,153,157
Cap Rate 9%
$896,900
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 authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,354
Businesses Nearby
Explore this area
Business Placement
Demographics for 02148, MA
66,274
Population
28,043
Households
2.4
Avg Household Size
36
Median Age
45%
College-Educated
87%
High-School Grad
5.0 sq mi
ZIP Area
13,255
Density / Sq Mi
$95,298
Median Household Income
$56,077
Median Earnings
$2,066
Median Rent
$607,500
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 - 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
