Eight-Unit Residential Income
For Sale
$1,999,000
363 Eliot Street, Ashland, MA 01721
Eight-unit multifamily property on a three-acre lot with 12+ parking spaces and an additional storage building.
Property Size4,814 SF
Lot Size3.00 Acres
Price / SF$415.25
Days on Market207
Property Features for 363 Eliot Street
General Information
Standard status
Active
Size
4,814 SF
Total Parking Spaces
12
Lot size
3.00 Acres
Property subtype
Multi-family / 5-9 Family
Additional Details
Highway Access
Yes
Clear Height
25 ft
Multifamily Units
8
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
Real Broker MA, LLC
(413) 273-1381
Listed By:
Team ROVI
(413) 273-1381
Source:
Compass
Added: Jan 5
Changed: Jul 23
Last Checked: Jul 24 at 2:37PM
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 Real Broker MA, LLC
Investment Insights
Based on property information with market context.
This eight-unit residential income property offers a mix of tenant-occupied units and two owner’s units that can be delivered vacant. The building is situated on a three-acre lot with a quiet, wooded setting.
The property includes 12+ parking spaces. An additional storage building/barn with soaring 25-foot ceilings provides extra storage capacity and may be used as additional income space or maintained for owners’ use.
The units are currently producing income with tenants in place, while the two owner’s units offer flexibility for delivery vacant at closing.
The property includes 12+ parking spaces. An additional storage building/barn with soaring 25-foot ceilings provides extra storage capacity and may be used as additional income space or maintained for owners’ use.
The units are currently producing income with tenants in place, while the two owner’s units offer flexibility for delivery vacant at closing.
Key Highlights
- Eight‑unit multifamily property on a 3‑acre wooded lot
- Includes 12+ parking spaces and an additional storage building/barn with 25‑foot ceilings
- Two owner’s units can be delivered vacant; tenants are currently in place
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 | $183.7k | $38.16 |
| − Vacancy | −$9.6k | −$1.98 |
| EGI | $174.1k | $36.18 |
| − OpEx | −$78.4k | −$16.28 |
| NOI | $95.8k | $19.90 |
4,814 SF · lease $38.16/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.37M
$1.20M – $1.60M
NOI $95,782 @ 7.0% cap · market cap 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.85M
$2.49M – $3.32M
NOI $199,491 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
25 ft
Clear height
8
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
250
Businesses Nearby
Explore this area
Business Placement
Demographics for 01721, MA
18,832
Population
7,995
Households
2.4
Avg Household Size
42
Median Age
59%
College-Educated
98%
High-School Grad
12.3 sq mi
ZIP Area
1,531
Density / Sq Mi
$127,106
Median Household Income
$71,797
Median Earnings
$2,334
Median Rent
$586,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit multifamily property on a three-acre lot with 12+ parking spaces and an additional storage building.
Where is this apartment building located?
The property is located at 363 Eliot Street Ashland, MA.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Eight‑unit multifamily property on a 3‑acre wooded lot; Includes 12+ parking spaces and an additional storage building/barn with 25‑foot ceilings; Two owner’s units can be delivered vacant; tenants are currently in place
