Multifamily Compound for
50-70 Grove Street Clinton, MA 01510
50-70 Grove Street, Clinton, MA, 01510
Contact for pricing
For Sale
Contact for pricing
22-unit multifamily property with high cash flow and parking.
Property Size26,000 SF
Price / SF$250
Days on Market70
Property Features for 50-70 Grove Street
General Information
- Standard status
- Active
- Size
- 26,000 SF
- Property subtype
- Multifamily
Listing Agency
RE/MAX JOURNEY
Listed by
John Hogan · License #MA
Source
Crexi
Added: May 9 Checked: Jul 15 at 8:10 pm
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 RE/MAX JOURNEY
Investment Insights
Based on property information with market context.
This multifamily property, offered for sale, comprises 22 units and presents a potential opportunity for future condo conversion. The property is characterized by high cash flow. Each of the 22 units includes in-unit laundry facilities and off-street parking. Tenants are responsible for covering their own utility expenses. The property has a size of 26000 square feet.
Key Highlights
- High cash flow awaits the savvy investor.
- Opportunity for future condo conversion.
- All 22 units include the convenience of off‑street parking.
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 | $571.0k | $21.96 |
| − Vacancy | −$14.8k | −$0.57 |
| EGI | $556.1k | $21.39 |
| − OpEx | −$250.3k | −$9.63 |
| NOI | $305.9k | $11.76 |
26,000 SF · lease $21.96/SF/yr · vacancy 2.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.37M
$3.82M – $5.10M
NOI $305,863 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.88M
$7.77M – $10.36M
NOI $621,504 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 22-unit multifamily property with high cash flow and parking.
Where is this apartment building located?
The property is located at 50-70 Grove Street Clinton, MA.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: High cash flow awaits the savvy investor.; Opportunity for future condo conversion.; All 22 units include the convenience of off‑street parking.
