3-Unit Triplex with Private
388 Main St, Oxford, MA 01540
For Sale
New
$375,000
Three one-bedroom apartments have separate electrical and heating systems, with one unit occupied and two vacant.
Property Size1,807 SF
Price / SF$207.53
Days on Market2
Property Features for 388 Main St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Listing Agency:
Real Broker MA, LLC
Listed By:
The Hamre Martin Team
(413) 210-0207
Source:
Laerrealty
Added: Nov 12
Last Checked: Nov 12 at 2:26PM
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
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Investment Insights
Based on property information with market context.
At 388 Main Street, this 1,807-square-foot triplex contains three one-bedroom units. One is occupied and two are vacant, and each apartment has its own electrical and heating systems. Private parking is also provided. The property was built in 1877 and is zoned GB.
The Oxford property is near shops, restaurants, and everyday amenities, with I-395 a short drive away. Renovation and town approval may allow for a fourth unit; any added apartment would depend on those approvals and improvements.
The Oxford property is near shops, restaurants, and everyday amenities, with I-395 a short drive away. Renovation and town approval may allow for a fourth unit; any added apartment would depend on those approvals and improvements.
Key Highlights
- Three one‑bedroom units; one occupied and two vacant
- 1,807 square feet; built in 1877
- Private parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,426
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$488,520
$488.5K
Cap Rate 7%
$348,943
$348.9K
Cap Rate 9%
$271,400
$271.4K
Market Conditions
NOI Build-Up for 1,807 SF
Gross rent
$35.8K $19.80/SF
− Vacancy
−$884 −$0.49/SF
EGI
$34.9K $19.31/SF
− OpEx
−$10.5K −$5.79/SF
NOI
$24.4K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$488,520
Cap Rate 7%
$348,943
Cap Rate 9%
$271,400
Alternative Uses
Best Use
Multifamily LT 5
$348.9K
$305.3K – $407.1K
NOI $24,426 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$303.7K
$265.7K – $354.3K
NOI $21,257 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$617.1K
$539.9K – $719.9K
NOI $43,195 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
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Business Placement
Demographics for 01540, MA
11,032
Population
4,337
Households
2.5
Avg Household Size
44
Median Age
27%
College-Educated
94%
High-School Grad
19.1 sq mi
ZIP Area
578
Density / Sq Mi
$118,389
Median Household Income
$52,248
Median Earnings
$1,135
Median Rent
$346,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Worcester County, MA
Properties on Market for Triplexes in Worcester County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three one-bedroom apartments have separate electrical and heating systems, with one unit occupied and two vacant.
Where is this triplex located?
The property is located at 388 Main St Oxford, MA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Three one‑bedroom units; one occupied and two vacant; 1,807 square feet; built in 1877; Private parking
