Three-Unit Residential
New
For Sale
$480,000
45 Pierce St, New Bedford, MA 02740
Residential Income, New Bedford, MA
Property Size2,558 SF
Lot Size0.06 Acres
Price / SF$187.65
Days on Market3
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Property Features for 45 Pierce St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 1, Bedroom 6, Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 7, Bedroom 8, Bathroom 2, Bathroom 3, Bedroom 5
Directions
Please use GPS
Standard status
Active
APN
M:0051 L:0326,2891700
Size
2,558 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5018
Building Details
Year built
1897
Floors in Building
3
Number of units
3
Listing Agency:
RE/MAX Vantage · RE/MAX International
(774) 992-0297
Listed By:
Eddie Lopez
(508) 999-4424
Added: Oct 13
Changed: Oct 14
Last Checked: Oct 15 at 1:06PM
MLS# 73590146
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,558-square-foot triplex contains two three-bedroom apartments and one two-bedroom apartment, each with one full bathroom. The second- and third-floor units are scheduled to be delivered vacant at closing. The building dates to 1897 and occupies a 0.0589-acre lot in New Bedford. Zoning is RB. Parking is limited to on-street spaces.
Key Highlights
- Three apartments: two with 3 bedrooms and one with 2 bedrooms
- Each apartment has 1 full bathroom
- Second- and third‑floor apartments to be 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.
How Realmo checks its estimates
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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 - RB-zoned property includes two apartments expected to be vacant at closing.
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 with 3 bedrooms and one with 2 bedrooms; Each apartment has 1 full bathroom; Second- and third‑floor apartments to be vacant at closing
