Victorian 9-Unit Multifamily
465 CHAPEL ST Lee, MA 01238
465 CHAPEL ST, Lee, MA, 01238
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For Sale
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Nine fully occupied residential units in a Victorian multifamily building with on-site laundry and parking.
Property Size5,690 SF
Lot Size2.50 Acres
Price / SF$174.87
Days on Market56
Property Features for 465 CHAPEL ST
General Information
- Standard status
- Active
- Size
- 5,690 SF
- Lot size
- 2.50 Acres
- Property subtype
- Multifamily, Mixed Use
Building Details
- Year Built
- 1880
Listing agency
Stone House Properties, LLC
(413) 822-1008
Listed by
Timothy Gallagher · License #MA 9573698
Source
Crexi
Added: May 27 Updated: Jul 21 at 3:32PM Checked: Jul 21 at 3:32PM
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 Stone House Properties, LLC
Investment Insights
Based on property information with market context.
This Victorian multifamily property includes nine residential units configured as two efficiency one-bedroom units, one two-bedroom unit, and six standard one-bedroom units. Each unit is described as having a living room and a full kitchen. The property is currently fully occupied and includes private parking for up to 16 vehicles, a coin-operated washer and dryer for supplemental income, and a storage shed on-site.
The building is situated on 2.5 landscaped acres in a South County setting, with an additional lot included with the sale. Recent updates noted in the remarks include a furnace and chimney liner both less than one year old.
According to the provided information, the offering is turnkey, with financial details available upon request for qualified buyers.
The building is situated on 2.5 landscaped acres in a South County setting, with an additional lot included with the sale. Recent updates noted in the remarks include a furnace and chimney liner both less than one year old.
According to the provided information, the offering is turnkey, with financial details available upon request for qualified buyers.
Key Highlights
- Victorian multifamily built in 1880 with 9 residential units that are fully occupied
- Unit mix includes 2 efficiency 1‑bedroom units, 1 spacious 2‑bedroom unit, and 6 standard 1‑bedroom units
- Each unit layout features a living room and full kitchen
Local 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 | $143.4k | $25.20 |
| − Vacancy | −$2.0k | −$0.35 |
| EGI | $141.4k | $24.85 |
| − OpEx | −$63.6k | −$11.18 |
| NOI | $77.8k | $13.67 |
5,690 SF · lease $25.20/SF/yr · vacancy 1.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$972.0K – $1.30M
NOI $77,759 @ 7.0% cap · market cap 7.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.67M
$1.46M – $1.94M
NOI $116,622 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Nine fully occupied residential units in a Victorian multifamily building with on-site laundry and parking.
Where is this apartment building located?
The property is located at 465 CHAPEL ST Lee, MA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Victorian multifamily built in 1880 with 9 residential units that are fully occupied; Unit mix includes 2 efficiency 1‑bedroom units, 1 spacious 2‑bedroom unit, and 6 standard 1‑bedroom units; Each unit layout features a living room and full kitchen
