Turnkey Multifamily Portfolio
For Sale
$3,150,000
3-6 Witherbee Terrace Marlborough, Marlborough, MA 01752
Four-building multifamily portfolio with 13 adjacent units, 12 occupied, and professional management in place.
Property Size8,190 SF
Price / SF$384.62
Days on Market65
Property Features for 3-6 Witherbee Terrace Marlborough
General Information
Standard status
Active
Size
8,190 SF
Property subtype
Residential Income
Zoning
RC
Occupancy
92%
Net Operating Income
$174,000
Financials
Cap Rate
9%
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$16,838
Building Details
Building Size
8,190 SF
Year Built
1925
Stories
8
Listing Agency:
(508) 643-8166
Listed By:
Amanda Lucido Hodges
(508) 643-8166
Source:
Bournetosellrealestate
Added: Jun 20
Changed: Aug 23
Last Checked: Aug 22 at 7:26AM
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 Amanda Lucido Hodges
Investment Insights
Based on property information with market context.
This offering is a turnkey four-building multifamily portfolio comprising 13 adjacent units across 3–6 Witherbee Terrace, with 12 of 13 units currently occupied and professional property management in place. The buildings include a mix of studio units, two-bedroom units, and a single four-bedroom single-family-style unit. The majority of units and common areas have undergone major improvements and renovations, and a common dumpster serves all tenants.
The property is located on a dead-end street, providing a consolidated setting for the entire portfolio.
The property is located on a dead-end street, providing a consolidated setting for the entire portfolio.
Key Highlights
- 4‑building multifamily portfolio with 13 adjacent units on a dead‑end street
- 12 of 13 units are occupied with professional property management in place
- Multiple unit mix across the portfolio: large studios, 2‑bedrooms, 4‑bedroom single‑family, and additional studios
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
$162,953
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
5.17%
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%
$3,259,060
$3.3M
Cap Rate 7%
$2,327,900
$2.3M
Cap Rate 9%
$1,810,589
$1.8M
Market Conditions
NOI Build-Up for 8,190 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
$312.5K $38.16/SF
− Vacancy
−$16.3K −$1.98/SF
EGI
$296.3K $36.18/SF
− OpEx
−$133.3K −$16.28/SF
NOI
$163.0K $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%
$3,259,060
Cap Rate 7%
$2,327,900
Cap Rate 9%
$1,810,589
Alternative Uses
Best Use
Apartment 5plus
$2.33M
$2.04M – $2.72M
NOI $162,953 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.85M
$4.24M – $5.66M
NOI $339,392 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
92.3%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,169
Businesses Nearby
Explore this area
Business Placement
Demographics for 01752, MA
41,793
Population
17,370
Households
2.4
Avg Household Size
40
Median Age
41%
College-Educated
89%
High-School Grad
20.9 sq mi
ZIP Area
2,000
Density / Sq Mi
$95,047
Median Household Income
$49,012
Median Earnings
$1,721
Median Rent
$485,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Four-building multifamily portfolio with 13 adjacent units, 12 occupied, and professional management in place.
Where is this apartment building located?
The property is located at 3-6 Witherbee Terrace Marlborough Marlborough, MA.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: 4‑building multifamily portfolio with 13 adjacent units on a dead‑end street; 12 of 13 units are occupied with professional property management in place; Multiple unit mix across the portfolio: large studios, 2‑bedrooms, 4‑bedroom single‑family, and additional studios
