Four-Unit Residential Income
38-40 Hurd Street Melrose, MA 02176
38-40 Hurd Street, Melrose, MA, 02176
$1,395,000
For Sale
$1,395,000
Well-maintained quadplex with 4 separately metered units, off-street parking, shared laundry, and a full basement.
Property Size3,519 SF
Price / SF$396.42
Days on Market66
Property Features for 38-40 Hurd Street
General Information
- Standard status
- Active
- Size
- 3,519 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
Legacy Realty Advisors LLC
Listed by
Jonathan Mathews
(508) 287-2695
Source
Demakis
Added: May 17 Updated: Jul 21 at 3:24AM Checked: Jul 21 at 3:24AM
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 Legacy Realty Advisors LLC
Investment Insights
Based on property information with market context.
This four-unit residential income property is well maintained and arranged as a quadplex. The building offers functional unit layouts with bright living areas, updated kitchens, and hardwood/vinyl flooring. Each unit has access to full bathrooms, and the property includes separately metered utilities to support independent operations. Additional features include off-street parking, shared laundry, and a full basement for storage.
The property is located in Melrose near downtown shops, restaurants, parks, schools, and public transportation, including the Wyoming Hill commuter rail station for access to Boston.
The building totals approximately 3,519 square feet of living space and is described as having 9 bedrooms and 4 full baths across the four units.
The property is located in Melrose near downtown shops, restaurants, parks, schools, and public transportation, including the Wyoming Hill commuter rail station for access to Boston.
The building totals approximately 3,519 square feet of living space and is described as having 9 bedrooms and 4 full baths across the four units.
Key Highlights
- Well‑maintained 4‑family (quadplex) with approximately 3,519 sq ft of living space (year built 1900).
- 9 bedrooms and 4 full baths across four units, offering flexible owner‑occupant or investment use.
- Units have updated kitchens and hardwood/vinyl flooring with separately metered utilities.
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 | $111.9k | $31.80 |
| − Vacancy | −$5.5k | −$1.57 |
| EGI | $106.4k | $30.23 |
| − OpEx | −$31.9k | −$9.07 |
| NOI | $74.5k | $21.16 |
3,519 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$930.8K – $1.24M
NOI $74,463 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$1.00M
$875.2K – $1.17M
NOI $70,016 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,826 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Well-maintained quadplex with 4 separately metered units, off-street parking, shared laundry, and a full basement.
Where is this quadplex located?
The property is located at 38-40 Hurd Street Melrose, MA.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Well‑maintained 4‑family (quadplex) with approximately 3,519 sq ft of living space (year built 1900).; 9 bedrooms and 4 full baths across four units, offering flexible owner‑occupant or investment use.; Units have updated kitchens and hardwood/vinyl flooring with separately metered utilities.
