Four-Unit Mixed-Use Redevelopment
323 Washington St Haverhill, MA 01832
323 Washington St, Haverhill, MA, 01832
$899,000
For Sale
$899,000
Vacant first-floor space offers retail-to-residential or retail conversion within a four-unit income building.
Property Size1,800 SF
Price / SF$499.44
Days on Market49
Property Features for 323 Washington St
General Information
- Standard status
- Active
- Size
- 1,800 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1910
Listing Agency
New England Realty Advisors LLC
(781) 334-8044
Listed by
Brad Carlson · License #MA #9584876
Source
Nerealtyadvisors
Added: Jun 2 Checked: Jul 19 at 4:09 am
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 New England Realty Advisors LLC
Investment Insights
Based on property information with market context.
323 Washington St in Haverhill, MA presents a four-unit investment opportunity with flexible redevelopment potential. The property includes four spacious two-bedroom apartments, and all units have lead certificates. A substantial first-floor area totaling approximately 1,800 SF is currently vacant, creating a direct path for adaptive reuse. In addition, there is a substantial rear garage at the back of the building that can be rented out, adding another component to the income strategy.
Conveniently positioned in the heart of Haverhill, the building is supported by three dedicated off-street parking spaces, along with ample street parking. The combination of apartment living above and an available first-floor footprint provides options for investors looking to reconfigure how the property generates revenue.
For buyers and operators, this asset is well-suited to value-add ownership. There is immediate upside potential by bringing current rents to market rates, paired with the opportunity to convert the vacant first-floor space into additional residential units or commercial retail. With comprehensive financial information and further property details available upon request for qualified parties, the property offers a straightforward platform for redevelopment-focused investment underwriting.
Conveniently positioned in the heart of Haverhill, the building is supported by three dedicated off-street parking spaces, along with ample street parking. The combination of apartment living above and an available first-floor footprint provides options for investors looking to reconfigure how the property generates revenue.
For buyers and operators, this asset is well-suited to value-add ownership. There is immediate upside potential by bringing current rents to market rates, paired with the opportunity to convert the vacant first-floor space into additional residential units or commercial retail. With comprehensive financial information and further property details available upon request for qualified parties, the property offers a straightforward platform for redevelopment-focused investment underwriting.
Key Highlights
- Four‑unit investment property built in 1910 with four spacious 2‑bedroom apartments
- All apartments have lead certificates
- Vacant first‑floor space totals about 1,800 SF and can be redeveloped or converted
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 | $45.4k | $25.20 |
| − Vacancy | −$2.0k | −$1.13 |
| EGI | $43.3k | $24.07 |
| − OpEx | −$13.0k | −$7.22 |
| NOI | $30.3k | $16.85 |
1,800 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$433.2K
$379.0K – $505.4K
NOI $30,323 @ 7.0% cap · market cap 3.37%
Second Best
Retail
$422.5K
$369.7K – $492.9K
NOI $29,575 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$1.07M
$932.4K – $1.24M
NOI $74,592 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Vacant first-floor space offers retail-to-residential or retail conversion within a four-unit income building.
Where is this quadplex located?
The property is located at 323 Washington St Haverhill, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Four‑unit investment property built in 1910 with four spacious 2‑bedroom apartments; All apartments have lead certificates; Vacant first‑floor space totals about 1,800 SF and can be redeveloped or converted
