Southbridge Multifamily Investment
33 Union Street, Southbridge, MA 01550
New
Four-unit multifamily property in Southbridge, ideal for owner-occupancy or investment.
Type:Multi-family / 4 Family
Property size:
2,592 SFPrice / SF:
$250/SF- Added:
- May 26, 2026
- Days on Market:
- 5
- Last Refresh:
- May 27 at 7:47 am
Property Features for 33 Union Street
General Information
- Standard status
- Active
- Size
- 2,592 SF
- Property subtype
- Multi-family / 4 Family
Building Details
- Year Built
- 1900
Listing agent Jason Saphire License #9086666 (877) 249-5478
Listing office www.HomeZu.com (877) 249-5478
Listing date May 26, 2026
Source Compass
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HighLights
- Strong income potential with proforma gross rents of $6,570/month reflecting current market demand.
- Well‑maintained 4‑unit multifamily building with two 2‑bed/1‑bath units currently leased at market rents ($1,650 and $1,700/mo).
- One unit is vacant and ready for immediate owner‑occupancy or lease‑up.
- Low operating expenses (under $12K annually) support a compelling cap rate at full occupancy.
- Ideal for owner‑occupant to live in one unit while others pay the mortgage.
- Features hardwood and vinyl flooring, washer hookups, and a porch.
Overview
This well-maintained, four-unit multifamily property is located in Southbridge. The building features four units, each with two bedrooms and one bathroom, spread across two floors. Currently, two units are leased at market rents of $1,650 and $1,700 per month. One unit is vacant and ready for immediate occupancy or lease-up, with a second vacant unit being filled. The proforma gross rents are $6,570 per month, reflecting current market demand. The property's operating expenses, including taxes, trash, water/sewer, and common electric, total under $12,000 annually. This property is suitable for an owner-occupant looking to live in one unit while renting out the others, or for a portfolio addition with cash flow potential. The property size is 2592 square feet.
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 | $51.3k | $19.80 |
| − Vacancy | −$1.3k | −$0.49 |
| EGI | $50.1k | $19.31 |
| − OpEx | −$15.0k | −$5.79 |
| NOI | $35.0k | $13.52 |
2,592 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$500.5K
$438.0K – $584.0K
NOI $35,038 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$435.6K
$381.2K – $508.2K
NOI $30,492 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$885.1K
$774.5K – $1.03M
NOI $61,959 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Southbridge
- County
- Worcester
- State
- Massachusetts
- Longitude
- -72.0404591
- Latitude
- 42.08021
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Four-unit multifamily property in Southbridge, ideal for owner-occupancy or investment.
Where is this quadplex located?
The property is located at 33 Union Street Southbridge, MA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Strong income potential with proforma gross rents of $6,570/month reflecting current market demand.; Well‑maintained 4‑unit multifamily building with two 2‑bed/1‑bath units currently leased at market rents ($1,650 and $1,700/mo).; One unit is vacant and ready for immediate owner‑occupancy or lease‑up.
