38 Clapp Street, Malden, MA 02148
Well-maintained, fully occupied 18-unit brick building with a diversified unit mix in Malden.
- Added:
- Jun 18, 2026
- Days on Market:
- 10
- Last Refresh:
- Jun 24 at 2:01 am
Property Features for 38 Clapp Street
General Information
- Standard status
- Active
- Size
- 16,512 SF
- Property subtype
- Retail, Multifamily
Building Details
- Year Built
- 1970
Listing office Hunneman (781) 888-5284
Listing date Jun 18, 2026
Source Crexi
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 Hunneman
HighLights
- 18‑unit brick apartment building in Malden, MA
- Unit mix includes twelve 2‑bedroom units, five 1‑bedroom units, and one studio
- Fully occupied with positive cash flow
- Well‑maintained by long‑term private ownership with many recent building and apartment improvements
- Year built: 1970
Overview
The asset is presented as a for-sale investment opportunity and is being marketed as having positive cash flow, along with stated future upside potential. Recent improvements and ongoing maintenance support the property’s current operating condition and help preserve the building’s day-to-day functionality.
For investors seeking a turnkey multifamily acquisition, the current fully occupied status and diversified unit mix can help reduce exposure to changes in any single apartment type. Prospective buyers can evaluate the documented recent improvements and the building’s existing occupancy profile as part of their underwriting, with the opportunity to consider the seller’s stated upside potential for future value creation.
Local 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 | $630.1k | $38.16 |
| − Vacancy | −$32.8k | −$1.98 |
| EGI | $597.3k | $36.18 |
| − OpEx | −$268.8k | −$16.28 |
| NOI | $328.5k | $19.90 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Malden
- County
- Middlesex
- State
- Massachusetts
- Longitude
- -71.0288009
- Latitude
- 42.4342033
