Three-Family Residential Income
32 Franklin Street New Bedford, MA 02740
32 Franklin Street, New Bedford, MA, 02740
$549,900
For Sale
$549,900
Three residential units with walkup attic space, finished basement, and a private green backyard.
Property Size2,934 SF
Price / SF$187.42
Days on Market181
Property Features for 32 Franklin Street
General Information
- Standard status
- Active
- Size
- 2,934 SF
- Property subtype
- Multi-family / 3 Family - 3 Units Up/Down
Building Details
- Year Built
- 1912
Listing agency
Redlon Realty LLC
(774) 259-4057
Listed by
Adam Walorz · License #9570473
(774) 259-4057
Source
Compass
Added: Jan 23 Updated: Jul 23 at 1:40AM Checked: Jul 23 at 1:40AM
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 Redlon Realty LLC
Investment Insights
Based on property information with market context.
This three-family residential income property features a nearly 3,000-square-foot structure with vinyl siding and three levels of living space. The home includes (2) three-bedroom apartments and (1) two-bedroom apartment, all described as fully applianced and laid out for practical daily living. Interiors include hardwood floors and tile bathrooms, and the property also offers a finished basement and a private green backyard. Each unit includes walkup attic space, which is presented as an option for creating additional living space.
The location is described as being in the heart of New Bedford, just minutes from shopping, dining, convenience stores, St Luke’s Hospital, and highway access.
The exterior is characterized as low-maintenance with a completely vinyl-sided finish, supporting long-term ownership.
The location is described as being in the heart of New Bedford, just minutes from shopping, dining, convenience stores, St Luke’s Hospital, and highway access.
The exterior is characterized as low-maintenance with a completely vinyl-sided finish, supporting long-term ownership.
Key Highlights
- Nearly 3,000 SF 3‑family in New Bedford with finished basement and private green backyard
- 4 total bathrooms: 2x 3‑bedroom apartments and 1x 2‑bedroom apartment across three levels
- Walkup attic space included with each unit, offering flexibility to make 4 units or a top townhouse
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 | $65.1k | $22.20 |
| − Vacancy | −$4.9k | −$1.67 |
| EGI | $60.2k | $20.54 |
| − OpEx | −$18.1k | −$6.16 |
| NOI | $42.2k | $14.37 |
2,934 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$602.5K
$527.2K – $702.9K
NOI $42,175 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$553.1K
$484.0K – $645.3K
NOI $38,719 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$865.1K
$757.0K – $1.01M
NOI $60,558 @ 7.0% cap · market cap 11.01%
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 - Three residential units with walkup attic space, finished basement, and a private green backyard.
Where is this triplex located?
The property is located at 32 Franklin Street New Bedford, MA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Nearly 3,000 SF 3‑family in New Bedford with finished basement and private green backyard; 4 total bathrooms: 2x 3‑bedroom apartments and 1x 2‑bedroom apartment across three levels; Walkup attic space included with each unit, offering flexibility to make 4 units or a top townhouse
