Brick Apartment Building with 18
38 Clapp Street Malden, MA 02148
38 Clapp Street, Malden, MA, 02148
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For Sale
Contact for pricing
Well-maintained, fully occupied 18-unit brick building with a diversified unit mix in Malden.
Property Size16,512 SF
Price / SF$360.34
Days on Market31
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 Agency
Hunneman
(781) 888-5284
Listed by
Carl Christie · License #MA 9521806
Source
Crexi
Added: Jun 18 Checked: Jul 16 at 7:58 am
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
Investment Insights
Based on property information with market context.
This offering features an 18-unit brick apartment building in Malden, Massachusetts. The property includes twelve two-bedroom units, five one-bedroom units, and one studio apartment, providing a balanced mix of layouts for a range of tenant needs. The building is fully occupied, and it has been well maintained by a long-term private ownership group, which has completed recent improvements to both the building and individual apartments.
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.
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.
Key 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
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 |
16,512 SF · lease $38.16/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.69M
$4.11M – $5.48M
NOI $328,533 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.78M
$8.55M – $11.40M
NOI $684,253 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Well-maintained, fully occupied 18-unit brick building with a diversified unit mix in Malden.
Where is this apartment building located?
The property is located at 38 Clapp Street Malden, MA.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: 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
