Five-Unit Apartment
For Sale
$749,999
483 County Street, New Bedford, MA 02740
Five-unit multifamily property with updated roof, hot water tanks, and a recently installed furnace, plus garage parking.
Property Size3,557 SF
Price / SF$210.85
Days on Market68
Property Features for 483 County Street
General Information
Standard status
Active
Size
3,557 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
5
Building Details
Year Built
1910
Listing Agency:
Lamacchia Realty,Inc
Listed By:
Linda Perry
(617) 680-0690
Source:
Inrealtyinc
Added: May 24
Changed: Jul 20
Last Checked: Jul 29 at 12:47AM
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 Lamacchia Realty,Inc
Investment Insights
Based on property information with market context.
This five-unit apartment building is offered for sale with updates that include a new roof (2023), recently replaced hot water tanks, and a brand-new furnace installed last month. The property includes a 4-car garage and an additional lot behind the garage with access from the side street.
Located on County Street in New Bedford, the building is described as a short walk to downtown and the waterfront area, with access to local dining, shops, ferry service to Martha’s Vineyard, and the city’s historic district.
Tenancies are reported as tenant-at-will (TAW) at the time of listing.
Located on County Street in New Bedford, the building is described as a short walk to downtown and the waterfront area, with access to local dining, shops, ferry service to Martha’s Vineyard, and the city’s historic district.
Tenancies are reported as tenant-at-will (TAW) at the time of listing.
Key Highlights
- 5‑family multifamily property in New Bedford with tenants currently TAW
- New roof installed in 2023
- Recently replaced hot water tanks
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 6.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$917.7K – $1.22M
NOI $73,416 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit multifamily property with updated roof, hot water tanks, and a recently installed furnace, plus garage parking.
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 $749,999.
What are key features of this property?
This property features: 5‑family multifamily property in New Bedford with tenants currently TAW; New roof installed in 2023; Recently replaced hot water tanks
