Renovated Three-Family
47 Morris St Southbridge, MA 01550
For Sale
$549,900
Extensively renovated three-family property with separated utilities, updated systems, and exterior egress for improved safety.
Property Size2,074 SF
Price / SF$265.14
Days on Market53
Property Features for 47 Morris St
General Information
- Standard status
- Active
- Size
- 2,074 SF
- Property subtype
- 3 Family - 3 Units Up/Down
Building Details
- Year Built
- 1890
Listing Agency:
Lamacchia Realty, Inc.
(508) 612-0821
Listed By:
We Close Deals Team
(508) 612-0821
Source:
Lockandkeyre
Added: Jun 5
Changed: Jul 10
Last Checked: Jul 26 at 2:26PM
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 Lamacchia Realty, Inc.
Investment Insights
Based on property information with market context.
This extensively renovated three-family residence has been upgraded throughout with a new roof, new windows, and an electrical system refreshed with new panels and meters. Plumbing has been fully modernized, including complete removal of cast-iron lines and updated kitchen and bathroom plumbing across the units. The property also includes separation of gas and water services for each apartment, with new water lines and all new hot water heaters. Interior updates include new flooring, fresh paint, modern lighting, and updated fixtures in each unit. Exterior work includes the addition of exterior egress for the third-floor unit to enhance safety and functionality.
Located at 47 Morris St in Southbridge, MA, the building is arranged to provide independent utility services by unit, which can simplify day-to-day operations. The third-floor unit’s exterior egress improves compliant access compared with older configurations.
The combination of major mechanical, electrical, and plumbing replacements with unit-by-unit utility separation supports a low-maintenance ownership experience for both investors and owner-occupants. With cosmetic improvements completed alongside system upgrades, this three-family offers a turn-key option for tenants and a streamlined setup for an operator seeking dependable building performance.
Located at 47 Morris St in Southbridge, MA, the building is arranged to provide independent utility services by unit, which can simplify day-to-day operations. The third-floor unit’s exterior egress improves compliant access compared with older configurations.
The combination of major mechanical, electrical, and plumbing replacements with unit-by-unit utility separation supports a low-maintenance ownership experience for both investors and owner-occupants. With cosmetic improvements completed alongside system upgrades, this three-family offers a turn-key option for tenants and a streamlined setup for an operator seeking dependable building performance.
Key Highlights
- 1890‑built renovated three‑family property in Southbridge
- New roof and new windows as part of extensive upgrades
- Upgraded electrical service with new panels and meters
Financial Insights For Multifamily LT 5
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 | $41.1k | $19.80 |
| − Vacancy | −$1.0k | −$0.49 |
| EGI | $40.1k | $19.31 |
| − OpEx | −$12.0k | −$5.79 |
| NOI | $28.0k | $13.52 |
2,074 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$400.5K
$350.5K – $467.3K
NOI $28,036 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$348.5K
$305.0K – $406.6K
NOI $24,398 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$708.2K
$619.7K – $826.3K
NOI $49,577 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Extensively renovated three-family property with separated utilities, updated systems, and exterior egress for improved safety.
Where is this triplex located?
The property is located at 47 Morris St Southbridge, MA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 1890‑built renovated three‑family property in Southbridge; New roof and new windows as part of extensive upgrades; Upgraded electrical service with new panels and meters
