6-Unit Multifamily
49 Nelson St, New Bedford, MA 02744
For Sale
$699,000
Six two-bedroom residences have separate utility meters and a rent roll listing both tenant-at-will and leased units.
Property Size4,044 SF
Price / SF$172.85
Days on Market10
Property Features for 49 Nelson St
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Gross Income
Highway Access
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
6
Yes
5
12
Public Record
1
4044
No
Level
Public
0.07
Concrete Perimeter
Building Details
Building Size
Year Built
Buildings
Stories
Tenancy
Listing Agency:
Lyndsey Pachon
Listed By:
Lyndsey Pachon
Source:
Jrpierre
Added: Oct 31
Changed: Nov 7
Last Checked: Nov 8 at 4:04PM
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 Lyndsey Pachon
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Investment Insights
Based on property information with market context.
The 4,044-square-foot building contains six two-bedroom apartments, totaling 12 bedrooms. Each unit is separately metered, and the property occupies a 0.07-acre parcel. Built in 1892, the building is zoned RC.
The rent roll lists four tenant-at-will apartments and two leased apartments. The property is in New Bedford’s South End, with highway access and walking distance to the beach, pier, and New Bedford Harbor Walk.
The rent roll lists four tenant-at-will apartments and two leased apartments. The property is in New Bedford’s South End, with highway access and walking distance to the beach, pier, and New Bedford Harbor Walk.
Key Highlights
- Six two‑bedroom apartments with 12 bedrooms total
- 4,044 square feet on a 0.07‑acre parcel
- Separate utility meters for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,367
Cap Rate
7.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,067,340
$1.1M
Cap Rate 7%
$762,386
$762.4K
Cap Rate 9%
$592,967
$593.0K
Market Conditions
NOI Build-Up for 4,044 SF
Gross rent
$104.3K $25.80/SF
− Vacancy
−$7.3K −$1.81/SF
EGI
$97.0K $23.99/SF
− OpEx
−$43.7K −$10.80/SF
NOI
$53.4K $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 Rate 5%
$1,067,340
Cap Rate 7%
$762,386
Cap Rate 9%
$592,967
Alternative Uses
Best Use
Apartment 5plus
$762.4K
$667.1K – $889.5K
NOI $53,367 @ 7.0% cap · market cap 7.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,468 @ 7.0% cap · market cap 11.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
961
Businesses Nearby
Explore this area
Business Placement
Demographics for 02744, MA
13,055
Population
5,609
Households
2.3
Avg Household Size
35
Median Age
13%
College-Educated
72%
High-School Grad
1.3 sq mi
ZIP Area
10,042
Density / Sq Mi
$54,841
Median Household Income
$36,799
Median Earnings
$1,133
Median Rent
$344,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in New Bedford, MA
Properties on Market for Apartment buildings in New Bedford
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Six two-bedroom residences have separate utility meters and a rent roll listing both tenant-at-will and leased units.
Where is this apartment building located?
The property is located at 49 Nelson St 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: Six two‑bedroom apartments with 12 bedrooms total; 4,044 square feet on a 0.07‑acre parcel; Separate utility meters for each apartment
