Three-Family Residential
32 Franklin St New Bedford, MA 02740
32 Franklin St, New Bedford, MA, 02740
$529,900
For Sale
$529,900
Nearly 3,000 SF three-family home offers two three-bedroom units plus one two-bedroom unit with walk-up attic space.
Property Size3,000 SF
Price / SF$176.63
Days on Market91
Property Features for 32 Franklin St
General Information
- Standard status
- Active
- Size
- 3,000 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1912
Listing agency
(774) 304-2198
Listed by
Lily Bertoncini
(774) 304-2198
Source
Elliman
Added: Apr 24 Updated: Jul 20 at 7:20PM Checked: Jul 22 at 11:02AM
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 Lily Bertoncini
Investment Insights
Based on property information with market context.
This nearly 3,000 SF three-family home is newly offered and positioned for long-term ownership. The property features a maintenance-free exterior with vinyl siding and includes three levels with two three-bedroom apartments and one two-bedroom apartment. Each unit is fully applianced and includes hardwood floors and tile bathroom finishes, with sun-filled bedrooms and practical floor plans.
Additional space includes walk-up attic access for all three units. A finished basement and a private green backyard add further utility for everyday use.
The configuration allows for flexible possibilities, including the option to convert the layout to a fourth unit or a top-level townhouse, subject to applicable requirements. The home also presents as a straightforward residential income asset with multiple bedroom configurations and on-site storage and expansion space via the attics.
Additional space includes walk-up attic access for all three units. A finished basement and a private green backyard add further utility for everyday use.
The configuration allows for flexible possibilities, including the option to convert the layout to a fourth unit or a top-level townhouse, subject to applicable requirements. The home also presents as a straightforward residential income asset with multiple bedroom configurations and on-site storage and expansion space via the attics.
Key Highlights
- Nearly 3,000 SF 3‑family home (built 1912) with 4 bathrooms
- Unit mix: two 3‑bedroom apartments and one 2‑bedroom apartment, all fully applianced
- Walk‑up attic space with potential to make 4 units or a top‑unit townhouse (buyer to verify)
Local Financial Insights For Multifamily LT 5
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 | $66.6k | $22.20 |
| − Vacancy | −$5.0k | −$1.67 |
| EGI | $61.6k | $20.54 |
| − OpEx | −$18.5k | −$6.16 |
| NOI | $43.1k | $14.37 |
3,000 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$616.1K
$539.1K – $718.7K
NOI $43,124 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$565.6K
$494.9K – $659.8K
NOI $39,590 @ 7.0% cap · market cap 7.47%
Theoretical Best
Office A
$884.6K
$774.0K – $1.03M
NOI $61,920 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Nearly 3,000 SF three-family home offers two three-bedroom units plus one two-bedroom unit with walk-up attic space.
Where is this triplex located?
The property is located at 32 Franklin St New Bedford, MA.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: Nearly 3,000 SF 3‑family home (built 1912) with 4 bathrooms; Unit mix: two 3‑bedroom apartments and one 2‑bedroom apartment, all fully applianced; Walk‑up attic space with potential to make 4 units or a top‑unit townhouse (buyer to verify)
