Multi-Family Residential Income
For Sale
$690,000
393 Pleasant St, New Bedford, MA 02740
Multi-story building offers four 1-bedroom and two studio units, with on-street parking on a small parcel.
Property Size4,326 SF
Lot Size0.05 Acres
Price / SF$159.50
Days on Market11
Property Features for 393 Pleasant St
General Information
Standard status
Active
Size
4,326 SF
Lot size
0.05 Acres
Property subtype
Investment
Additional Details
Multifamily Units
6
Building Details
Year Built
1890
Listing Agency:
Horvath & Tremblay
(617) 688-9909
Listed By:
Spencer Smith · License #9576051
(617) 688-9909
Source:
Elliman
Added: Jul 20
Changed: Jul 21
Last Checked: Jul 29 at 11:57AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
Horvath & Tremblay is pleased to present an exclusive opportunity to purchase a multi-family investment property. The multi-story building includes four 1-bedroom/1-bath units and two studio units. The property contains 2,558 square feet of gross living area within 4,326 square feet of gross area.
The property is situated on a 0.05-acre parcel and features on-street parking spaces. WalkScore is listed as 83 (very walkable), with BikeScore of 53 (bikeable) and TransitScore of 32 (some transit).
This residential income property provides a mix of unit types within a single building, offering a straightforward configuration of four 1-bedroom units and two studios.
The property is situated on a 0.05-acre parcel and features on-street parking spaces. WalkScore is listed as 83 (very walkable), with BikeScore of 53 (bikeable) and TransitScore of 32 (some transit).
This residential income property provides a mix of unit types within a single building, offering a straightforward configuration of four 1-bedroom units and two studios.
Key Highlights
- Multi‑family building with 4 one‑bedroom/1‑bath units and 2 studio units
- Total of 2,558 SF gross living area within a 4,326 SF gross building area
- Built in 1890 on a 0.05‑acre parcel
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 | $111.6k | $25.80 |
| − Vacancy | −$7.8k | −$1.81 |
| EGI | $103.8k | $23.99 |
| − OpEx | −$46.7k | −$10.80 |
| NOI | $57.1k | $13.20 |
4,326 SF · lease $25.80/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$815.6K
$713.6K – $951.5K
NOI $57,089 @ 7.0% cap · market cap 8.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,289 @ 7.0% cap · market cap 12.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,477
Businesses Nearby
Explore this area
Business Placement
Demographics for 02740, MA
45,166
Population
20,532
Households
2.2
Avg Household Size
39
Median Age
18%
College-Educated
77%
High-School Grad
5.7 sq mi
ZIP Area
7,924
Density / Sq Mi
$54,563
Median Household Income
$39,310
Median Earnings
$1,052
Median Rent
$303,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multi-story building offers four 1-bedroom and two studio units, with on-street parking on a small parcel.
Where is this apartment building located?
The property is located at 393 Pleasant St New Bedford, MA.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Multi‑family building with 4 one‑bedroom/1‑bath units and 2 studio units; Total of 2,558 SF gross living area within a 4,326 SF gross building area; Built in 1890 on a 0.05‑acre parcel
