New Bedford Multifamily Investment
483 County Street New Bedford, MA 02740
483 County Street, New Bedford, MA, 02740
$699,000
For Sale
$699,000
Five-unit property near downtown New Bedford with recent updates.
Property Size3,557 SF
Price / SF$196.51
Days on Market58
Property Features for 483 County Street
General Information
- Standard status
- Active
- Size
- 3,557 SF
- Property subtype
- Multi-family / 5+ Family - 5+ Units Up/Down
Building Details
- Year Built
- 1910
Listing Agency
Lamacchia Realty, Inc
(508) 441-4446
Listed by
Linda Perry · License #9559288
(508) 441-4446
Source
Compass
Added: May 25 Updated: Jul 10 at 1:42 pm Checked: Jul 20 at 6:37 am
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.
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 | $91.8k | $25.80 |
| − Vacancy | −$6.4k | −$1.81 |
| EGI | $85.3k | $23.99 |
| − OpEx | −$38.4k | −$10.80 |
| NOI | $46.9k | $13.20 |
3,557 SF · lease $25.80/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$670.6K
$586.8K – $782.4K
NOI $46,941 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$917.7K – $1.22M
NOI $73,416 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
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 $699,000.
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.
