Quadplex with Separately Metered
For Sale
$1,350,000
38 & 40 Hurd Street, Melrose, MA 02176
Four-unit property with updated kitchens, shared laundry, and off-street parking, with units separately metered for utilities.
Property Size3,519 SF
Price / SF$383.63
Days on Market14
Property Features for 38 & 40 Hurd Street
General Information
Standard status
Active
Size
3,519 SF
Property subtype
Multi-family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
4
Amenities
shared laundry
full basement for storage
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Legacy Realty Advisors LLC
Listed By:
Jonathan Mathews
(617) 875-4950
Source:
Sarkisboston
Added: Jul 19
Changed: Jul 31
Last Checked: Aug 1 at 3:03AM
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 well-maintained quadplex offers four units with functional layouts, bright living areas, updated kitchens, and hardwood/vinyl flooring. The property provides a total of 9 bedrooms and 4 full baths across approximately 3,519 sq ft of living space. Utilities are separately metered, supporting flexible use of each unit. A shared laundry area and a full basement for storage are also included.
The building is located at 38 & 40 Hurd Street in Melrose, convenient to downtown shops, restaurants, parks, schools, and public transportation, including the Wyoming Hill commuter rail station for access to Boston.
Built in 1900, this quadplex includes off-street parking and offers practical, multi-unit living or rental flexibility through its four separate units and individual utility metering.
The building is located at 38 & 40 Hurd Street in Melrose, convenient to downtown shops, restaurants, parks, schools, and public transportation, including the Wyoming Hill commuter rail station for access to Boston.
Built in 1900, this quadplex includes off-street parking and offers practical, multi-unit living or rental flexibility through its four separate units and individual utility metering.
Key Highlights
- Four‑unit quadplex with 9 bedrooms and 4 full baths
- Approximately 3,519 sq ft of living space
- Units have separately metered utilities
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 5.52%
Second Best
Apartment 5plus
$1.00M
$875.2K – $1.17M
NOI $70,016 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,826 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,237
Businesses Nearby
Explore this area
Business Placement
Demographics for 02176, MA
29,817
Population
12,724
Households
2.3
Avg Household Size
41
Median Age
62%
College-Educated
95%
High-School Grad
4.7 sq mi
ZIP Area
6,344
Density / Sq Mi
$126,854
Median Household Income
$80,293
Median Earnings
$1,933
Median Rent
$796,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with updated kitchens, shared laundry, and off-street parking, with units separately metered for utilities.
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 $1,350,000.
What are key features of this property?
This property features: Four‑unit quadplex with 9 bedrooms and 4 full baths; Approximately 3,519 sq ft of living space; Units have separately metered utilities
