Updated Multifamily Apartment
317 Nesmith Street Lowell, MA 01852
317 Nesmith Street, Lowell, MA, 01852
$1,049,000
For Sale
$1,049,000
Well-maintained building with 5 total units, updated interiors, and an on-site coin-operated laundry facility.
Property Size3,131 SF
Price / SF$335.04
Days on Market136
Property Features for 317 Nesmith Street
General Information
- Standard status
- Active
- Size
- 3,131 SF
- Property subtype
- Multi-family / 5-9 Family
Building Details
- Year Built
- 1920
Listing agency
Compass
(781) 307-2726
Listed by
Nick Cowden · License #9587764
(781) 307-2726
Source
Compass
Added: Mar 8 Updated: Jul 21 at 3:31PM Checked: Jul 21 at 3:31PM
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 Compass
Investment Insights
Based on property information with market context.
This very well-maintained multifamily apartment building offers 4 one-bedroom, one-bath units and 1 three-bedroom, two-bath unit. Unit interiors include updated kitchens and bathrooms, stone countertops, luxury vinyl plank flooring, and fresh paint. The building is supported by a high-efficiency gas boiler and an indirect hot water tank.
On-site laundry is available via a coin-operated washer and dryer, providing an additional source of income. There is no on-site parking, and the property includes a small, easy-to-maintain backyard. The building is located in the Belvidere neighborhood of Lowell and is convenient to parks, public transit, highways, and downtown Lowell.
With a turn-key presentation and a stabilized rent profile, this property is positioned for an owner seeking a maintained income-producing multifamily asset with in-place updates and on-site laundry.
On-site laundry is available via a coin-operated washer and dryer, providing an additional source of income. There is no on-site parking, and the property includes a small, easy-to-maintain backyard. The building is located in the Belvidere neighborhood of Lowell and is convenient to parks, public transit, highways, and downtown Lowell.
With a turn-key presentation and a stabilized rent profile, this property is positioned for an owner seeking a maintained income-producing multifamily asset with in-place updates and on-site laundry.
Key Highlights
- Well‑maintained 5‑unit multi‑family building (built 1920) in the Belvidere neighborhood of Lowell
- Unit mix includes 4 one‑bedroom/one‑bath units and 1 three‑bedroom/two‑bath unit (6 total baths)
- Stabilized rents with a reported 7.6% cap rate
Local 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 | $109.0k | $34.80 |
| − Vacancy | −$7.4k | −$2.37 |
| EGI | $101.5k | $32.43 |
| − OpEx | −$45.7k | −$14.60 |
| NOI | $55.9k | $17.84 |
3,131 SF · lease $34.80/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$797.9K
$698.2K – $930.9K
NOI $55,852 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$964.3K – $1.29M
NOI $77,140 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Well-maintained building with 5 total units, updated interiors, and an on-site coin-operated laundry facility.
Where is this apartment building located?
The property is located at 317 Nesmith Street Lowell, MA.
What is the asking price?
The asking price for this property is $1,049,000.
What are key features of this property?
This property features: Well‑maintained 5‑unit multi‑family building (built 1920) in the Belvidere neighborhood of Lowell; Unit mix includes 4 one‑bedroom/one‑bath units and 1 three‑bedroom/two‑bath unit (6 total baths); Stabilized rents with a reported 7.6% cap rate
