New Bedford Multifamily Investment
For Sale
$679,000
483 County Street, New Bedford, MA 02740
Five-unit property near downtown New Bedford with recent updates.
Property Size3,557 SF
Price / SF$190.89
Days on Market132
Property Features for 483 County Street
General Information
Standard status
Active
Size
3,557 SF
Total Parking Spaces
9
Property subtype
Multi-Family
Zoning
MUB
Taxes and HOA fees
Annual Taxes
$6,127
Building Details
Building Size
3,557 SF
Year Built
1910
Stories
3
Listing Agency:
Lamacchia Realty, Inc
(508) 441-4446
Listed By:
Linda Perry · License #9559288
(508) 728-0407
Source:
Churchillprop
Added: May 26
Changed: Oct 1
Last Checked: Oct 2 at 7:21PM
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 five-family property in New Bedford presents an investment opportunity with income potential. All units are currently tenant-at-will. The property has undergone several updates, including a new roof installed in 2023, recently replaced hot water tanks, and a new furnace installed last month. A four-car garage is included, along with an additional lot behind the garage accessible from the side street, which could be used for additional parking, storage, or outdoor space. The property is located within walking distance of downtown New Bedford, providing access to the waterfront, restaurants, cafes, shops, ferry service to Martha’s Vineyard, art galleries, and the historic district. The property size is 3,557 square feet.
Key Highlights
- Strong income potential as a 5‑family property with all tenants currently TAW.
- New roof (2023) and recently replaced hot water tanks.
- Rare 4‑car garage plus an additional lot for parking/storage/outdoor space.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,941
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$938,820
$938.8K
Cap Rate 7%
$670,586
$670.6K
Cap Rate 9%
$521,567
$521.6K
Market Conditions
NOI Build-Up for 3,557 SF
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.
Gross rent
$91.8K $25.80/SF
− Vacancy
−$6.4K −$1.81/SF
EGI
$85.3K $23.99/SF
− OpEx
−$38.4K −$10.80/SF
NOI
$46.9K $13.20/SF
Area
New Bedford, MA
Vacancy
7.00%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$938,820
Cap Rate 7%
$670,586
Cap Rate 9%
$521,567
Alternative Uses
Best Use
Apartment 5plus
$670.6K
$586.8K – $782.4K
NOI $46,941 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$917.7K – $1.22M
NOI $73,416 @ 7.0% cap · market cap 10.81%
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
2,264
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
Check the figures for this property
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?
Apartment building - Five-unit property near downtown New Bedford with recent updates.
Where is this apartment building located?
The property is located at 483 County Street New Bedford, MA.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Strong income potential as a 5‑family property with all tenants currently TAW.; New roof (2023) and recently replaced hot water tanks.; Rare **4‑car garage** plus an additional lot for parking/storage/outdoor space.
