Three-Unit Residential
New
For Sale
$480,000
45 Pierce St, New Bedford, MA 02740
Two upper-level apartments will be vacant at closing, while the property also includes an on-street parking arrangement.
Property Size2,558 SF
Price / SF$187.65
Days on Market3
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Property Features for 45 Pierce St
General Information
Standard status
Active
Size
2,558 SF
Property subtype
3 Family
Units
Unit Mix
2 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,018
Building Details
Building Size
2,558 SF
Year Built
1897
Listing Agency:
RE/MAX Vantage
Listed By:
Josiah Cordero
(508) 999-4424
Source:
Paulgrover
Added: Oct 13
Changed: Oct 15
Last Checked: Oct 14 at 11:02PM
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 RE/MAX Vantage
Investment Insights
Based on property information with market context.
This 1897 residential property contains three apartments: two with three bedrooms and one with two bedrooms. Each unit has one full bathroom. The second- and third-floor apartments are scheduled to be vacant at closing, while parking is available on the street only.
Located at 45 Pierce St in New Bedford, Massachusetts, the property offers a three-unit configuration with a defined bedroom mix.
Located at 45 Pierce St in New Bedford, Massachusetts, the property offers a three-unit configuration with a defined bedroom mix.
Key Highlights
- Three apartments: two 3‑bedroom units and one 2‑bedroom unit
- One full bathroom in each apartment
- Second- and third‑floor units delivered vacant at closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,770
Cap Rate
7.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$735,400
$735.4K
Cap Rate 7%
$525,286
$525.3K
Cap Rate 9%
$408,556
$408.6K
Market Conditions
NOI Build-Up for 2,558 SF
Gross rent
$56.8K $22.20/SF
− Vacancy
−$4.3K −$1.67/SF
EGI
$52.5K $20.54/SF
− OpEx
−$15.8K −$6.16/SF
NOI
$36.8K $14.37/SF
Area
New Bedford, MA
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$735,400
Cap Rate 7%
$525,286
Cap Rate 9%
$408,556
Alternative Uses
Best Use
Multifamily LT 5
$525.3K
$459.6K – $612.8K
NOI $36,770 @ 7.0% cap · market cap 7.66%
Second Best
Apartment 5plus
$482.2K
$422.0K – $562.6K
NOI $33,757 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$754.2K
$660.0K – $880.0K
NOI $52,797 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,607
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Two upper-level apartments will be vacant at closing, while the property also includes an on-street parking arrangement.
Where is this triplex located?
The property is located at 45 Pierce St New Bedford, MA.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Three apartments: two 3‑bedroom units and one 2‑bedroom unit; One full bathroom in each apartment; Second- and third‑floor units delivered vacant at closing
