Four-Unit Townhouse-Style
42-48 Red Spring Rd, Andover, MA 01845
For Sale
$1,499,999
Townhouse-style configuration across two multifamily properties offered together.
Property Size4,920 SF
Days on Market49
Property Features for 42-48 Red Spring Rd
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Century 21 North East
Listed By:
Pratt Properties Team
(617) 438-5355
Source:
Classifiedrealtygroup
Added: Sep 22
Changed: Nov 9
Last Checked: Nov 8 at 3:46AM
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 Century 21 North East
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Investment Insights
Based on property information with market context.
This offering includes two multifamily properties comprising four townhouse-style residential units. The properties are being conveyed together as one transaction and provide an income-producing configuration within an established residential setting.
Located at 42-48 Red Spring Rd in Andover, Massachusetts, the property carries SRA zoning and dates to 1897. The four-unit arrangement creates a compact multifamily asset with separate townhouse-style residences across the two-property offering.
Located at 42-48 Red Spring Rd in Andover, Massachusetts, the property carries SRA zoning and dates to 1897. The four-unit arrangement creates a compact multifamily asset with separate townhouse-style residences across the two-property offering.
Key Highlights
- Four townhouse‑style residential units across two properties
- Two multifamily properties offered together
- Income‑producing residential configuration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,883
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,657,660
$1.7M
Cap Rate 7%
$1,184,043
$1.2M
Cap Rate 9%
$920,922
$920.9K
Market Conditions
NOI Build-Up for 4,920 SF
Gross rent
$124.0K $25.20/SF
− Vacancy
−$5.6K −$1.13/SF
EGI
$118.4K $24.07/SF
− OpEx
−$35.5K −$7.22/SF
NOI
$82.9K $16.85/SF
Area
Essex County, MA
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,657,660
Cap Rate 7%
$1,184,043
Cap Rate 9%
$920,922
Alternative Uses
Best Use
Multifamily LT 5
$1.18M
$1.04M – $1.38M
NOI $82,883 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$1.07M
$935.2K – $1.25M
NOI $74,815 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$2.91M
$2.55M – $3.40M
NOI $203,884 @ 7.0% cap · market cap 13.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,354
Businesses Nearby
Explore this area
Business Placement
Demographics for 01845, MA
31,855
Population
12,010
Households
2.7
Avg Household Size
39
Median Age
61%
College-Educated
97%
High-School Grad
26.4 sq mi
ZIP Area
1,207
Density / Sq Mi
$134,319
Median Household Income
$64,592
Median Earnings
$2,113
Median Rent
$670,000
Median Home Value
Market
Average Price Trend$/SF for Multifamily properties in Essex County, MA
Properties on Market for Multifamily properties in Essex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Townhouse-style configuration across two multifamily properties offered together.
Where is this multifamily property located?
The property is located at 42-48 Red Spring Rd Andover, MA.
What is the asking price?
The asking price for this property is $1,499,999.
What are key features of this property?
This property features: Four townhouse‑style residential units across two properties; Two multifamily properties offered together; Income‑producing residential configuration
