Grandfathered Three-Unit Triplex
5 Northern Boulevard Newbury, MA 01951
5 Northern Boulevard, Newbury, MA, 01951
$1,000,000
For Sale
$1,000,000
Grandfathered three-unit property with ocean views and ample parking, set on a redevelopment-ready lot.
Property Size1,810 SF
Lot Size0.15 Acres
Price / SF$552.49
Days on Market341
Property Features for 5 Northern Boulevard
General Information
- Standard status
- Active
- Size
- 1,810 SF
- Lot size
- 0.15 Acres
- Property subtype
- Multi-family
Building Details
- Year Built
- 1930
Listing agency
eXp Realty
Listed by
The North Shore Realty Group
(978) 658-2345
Source
Wilsonwolfe
Added: Aug 16, 2025 Updated: Jul 20 at 5:40PM Checked: Jul 21 at 7:39AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This grandfathered three-unit triplex location offers ocean views and ample parking. The existing structure includes approximately 1,810 square feet of living area.
Set on a 6,499 square-foot lot at 5 Northern Boulevard in Newbury, the site is positioned for redevelopment into a three-unit investment, a multi-unit configuration, or a single-family use, subject to applicable requirements.
The property is being offered for sale as a redevelopment opportunity in a three-unit grandfathered context, with the ocean-view aspect and existing parking supporting a variety of residential layouts.
Set on a 6,499 square-foot lot at 5 Northern Boulevard in Newbury, the site is positioned for redevelopment into a three-unit investment, a multi-unit configuration, or a single-family use, subject to applicable requirements.
The property is being offered for sale as a redevelopment opportunity in a three-unit grandfathered context, with the ocean-view aspect and existing parking supporting a variety of residential layouts.
Key Highlights
- Grandfathered three‑unit property on Plum Island in Newbury, MA (5 Northern Blvd)
- Ocean views
- 1810 SF of existing living area
Local Financial Insights For Multifamily LT 5
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 | $45.6k | $25.20 |
| − Vacancy | −$2.1k | −$1.13 |
| EGI | $43.6k | $24.07 |
| − OpEx | −$13.1k | −$7.22 |
| NOI | $30.5k | $16.85 |
1,810 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$435.6K
$381.2K – $508.2K
NOI $30,492 @ 7.0% cap · market cap 3.05%
Second Best
Apartment 5plus
$393.2K
$344.1K – $458.7K
NOI $27,524 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$1.07M
$937.6K – $1.25M
NOI $75,006 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Grandfathered three-unit property with ocean views and ample parking, set on a redevelopment-ready lot.
Where is this triplex located?
The property is located at 5 Northern Boulevard Newbury, MA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Grandfathered three‑unit property on Plum Island in Newbury, MA (5 Northern Blvd); Ocean views; 1810 SF of existing living area
