4-Unit Multifamily
For Sale
$1,095,000
49 South St, Northborough, MA 01532
Residential Income, Northborough, MA
Property Size4,851 SF
Lot Size0.50 Acres
Price / SF$225.73
Days on Market38
Property Features for 49 South St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
GR
Bedrooms
9
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 1, Bedroom 7, Bedroom 9, Bedroom 5, Bathroom 4, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 3, Bedroom 2, Bedroom 8, Bathroom 2, Bathroom 5, Bedroom 6
Parking
10
Directions
use GPS
Standard status
Active
APN
1632210
Size
4,851 SF
Lot size
0.50 Acres
Additional Details
Individually Metered Utilities
gas, electricity
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11216
Building Details
Year built
1800
Floors in Building
4
Number of units
4
Listing Agency:
REMAX Executive Realty · RE/MAX International
Listed By:
Bill Wright · License #5503
(508) 435-6700
Added: Sep 24
Changed: Oct 27
Last Checked: Oct 31 at 12:06PM
MLS# 73582252
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 4,851 square feet on a 0.5-acre parcel and dates to 1800. Kitchens and bathrooms have been upgraded throughout, and the main-floor one-bedroom apartment identified as Unit 2 has been renovated. In-unit laundry is present in Units 1, 3, and 4. A barn attached to the building offers two cold-storage rental areas. New gas boilers are in the process of being installed.
Gas and electric service is separately metered, with tenants responsible for those utilities. The property has off-street parking and a level side yard. It is across the street from Assabet Park, which has a splash pool and playground, and is in Northborough town center. Zoning is GR.
Gas and electric service is separately metered, with tenants responsible for those utilities. The property has off-street parking and a level side yard. It is across the street from Assabet Park, which has a splash pool and playground, and is in Northborough town center. Zoning is GR.
Key Highlights
- Four apartments totaling 4,851 square feet on 0.5 acres
- Attached barn has two cold‑storage rental areas
- Upgraded kitchens and bathrooms in all units; Unit 2 was recently renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,574
Cap Rate
5.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,311,480
$1.3M
Cap Rate 7%
$936,771
$936.8K
Cap Rate 9%
$728,600
$728.6K
Market Conditions
NOI Build-Up for 4,851 SF
Gross rent
$96.0K $19.80/SF
− Vacancy
−$2.4K −$0.49/SF
EGI
$93.7K $19.31/SF
− OpEx
−$28.1K −$5.79/SF
NOI
$65.6K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,311,480
Cap Rate 7%
$936,771
Cap Rate 9%
$728,600
Alternative Uses
Best Use
Multifamily LT 5
$936.8K
$819.7K – $1.09M
NOI $65,574 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$815.2K
$713.3K – $951.1K
NOI $57,067 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,958 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
446
Businesses Nearby
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Business Placement
Demographics for 01532, MA
15,741
Population
5,913
Households
2.7
Avg Household Size
43
Median Age
67%
College-Educated
97%
High-School Grad
18.5 sq mi
ZIP Area
851
Density / Sq Mi
$174,358
Median Household Income
$90,816
Median Earnings
$2,087
Median Rent
$598,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Separately metered gas and electric service is paid by tenants, with in-unit laundry in three apartments.
Where is this quadplex located?
The property is located at 49 South St Northborough, MA.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Four apartments totaling 4,851 square feet on 0.5 acres; Attached barn has two cold‑storage rental areas; Upgraded kitchens and bathrooms in all units; Unit 2 was recently renovated
