Multifamily Residential Income
317 Nesmith Street Lowell, MA 01852
317 Nesmith Street, Lowell, MA, 01852
$995,000
For Sale
$995,000
Well-maintained multifamily with five updated units, coin-op laundry, and a high-efficiency gas boiler.
Property Size3,131 SF
Price / SF$317.79
Days on Market145
Property Features for 317 Nesmith Street
General Information
- Standard status
- Active
- Size
- 3,131 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1920
Listing agency
Compass
Listed by
Nick Cowden
(617) 396-3100
Source
Longwoodresidential
Added: Feb 27 Updated: Jul 21 at 5:34PM Checked: Jul 21 at 5:34PM
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 well-maintained multifamily residential income building features five units total: four 1-bedroom/1-bath apartments and one 3-bedroom/2-bath apartment. The units are described as having an open layout and have been updated with stone countertops, luxury vinyl plank flooring, clean kitchens and bathrooms, and fresh paint.
The property includes an on-site coin-operated washer/dryer for additional income, along with a high-efficiency gas boiler and an indirect hot water tank. The building has no on-site parking, and it also offers a small, easy-to-maintain backyard. The location is described as convenient to parks, public transit, highways, and downtown Lowell.
The property includes an on-site coin-operated washer/dryer for additional income, along with a high-efficiency gas boiler and an indirect hot water tank. The building has no on-site parking, and it also offers a small, easy-to-maintain backyard. The location is described as convenient to parks, public transit, highways, and downtown Lowell.
Key Highlights
- 1920‑built multifamily with 5 units: four 1 bed/1 bath and one 3 bed/2 bath
- Over $112,000 in annual gross rents and performing at a true 8% cap rate (per remarks)
- All units updated with stone countertops, luxury vinyl plank flooring, clean kitchens and bathrooms, and fresh paint
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 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$964.3K – $1.29M
NOI $77,140 @ 7.0% cap · market cap 7.75%
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 multifamily with five updated units, coin-op laundry, and a high-efficiency gas boiler.
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 $995,000.
What are key features of this property?
This property features: 1920‑built multifamily with 5 units: four 1 bed/1 bath and one 3 bed/2 bath; Over $112,000 in annual gross rents and performing at a true 8% cap rate (per remarks); All units updated with stone countertops, luxury vinyl plank flooring, clean kitchens and bathrooms, and fresh paint
