Riverfront Multifamily
For Sale
$729,900
480 Hamilton St, Southbridge, MA 01550
Units feature hardwood floors, built-in cabinetry, porches, and off-street parking.
Property Size4,932 SF
Days on Market25
Property Features for 480 Hamilton St
General Information
Standard status
Active
Size
4,932 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,603
Amenities
hardwood floors
built-in cabinets
porches
Building Details
Building Size
4,932 SF
Year Built
1900
Stories
5
Units
5
Listed By:
Daniel A. Palacios
(508) 615-7811
Source:
Elliman
Added: Sep 11
Changed: Sep 23
Last Checked: Oct 4 at 10:47AM
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 Daniel A. Palacios
Investment Insights
Based on property information with market context.
Located at 480 Hamilton St in Southbridge Town, this multifamily property dates to 1900 and sits along a river with views. Each unit includes hardwood floors, built-in cabinets, a porch, and off-street parking.
The property has a rental history with long-term tenants and is being offered for the first time in 40 years. Walk Score is 81, described as Very Walkable, while Bike Score is 47, described as Somewhat Bikeable.
The property has a rental history with long-term tenants and is being offered for the first time in 40 years. Walk Score is 81, described as Very Walkable, while Bike Score is 47, described as Somewhat Bikeable.
Key Highlights
- Multifamily property at 480 Hamilton St, Southbridge Town, MA 01550
- Built in 1900 and situated along a river with views
- Each unit includes hardwood floors and built‑in cabinets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,020
Cap Rate
7.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,160,400
$1.2M
Cap Rate 7%
$828,857
$828.9K
Cap Rate 9%
$644,667
$644.7K
Market Conditions
NOI Build-Up for 4,932 SF
Gross rent
$108.3K $21.96/SF
− Vacancy
−$2.8K −$0.57/SF
EGI
$105.5K $21.39/SF
− OpEx
−$47.5K −$9.63/SF
NOI
$58.0K $11.76/SF
Area
Worcester County, MA
Vacancy
2.60%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,160,400
Cap Rate 7%
$828,857
Cap Rate 9%
$644,667
Alternative Uses
Best Use
Apartment 5plus
$828.9K
$725.3K – $967.0K
NOI $58,020 @ 7.0% cap · market cap 7.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,895 @ 7.0% cap · market cap 16.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
826
Businesses Nearby
Explore this area
Business Placement
Demographics for 01550, MA
17,740
Population
7,644
Households
2.3
Avg Household Size
39
Median Age
18%
College-Educated
82%
High-School Grad
20.2 sq mi
ZIP Area
878
Density / Sq Mi
$59,397
Median Household Income
$41,365
Median Earnings
$1,157
Median Rent
$267,000
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
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Frequently Asked Questions
What type of property is this?
Multifamily property - Units feature hardwood floors, built-in cabinetry, porches, and off-street parking.
Where is this multifamily property located?
The property is located at 480 Hamilton St Southbridge, MA.
What is the asking price?
The asking price for this property is $729,900.
What are key features of this property?
This property features: Multifamily property at 480 Hamilton St, Southbridge Town, MA 01550; Built in 1900 and situated along a river with views; Each unit includes hardwood floors and built‑in cabinets
