Six-Unit Multifamily
For Sale
$750,000
56 Nye Street, New Bedford, MA 02746
Separate heating and electrical systems support independent service across the apartments.
Property Size4,266 SF
Price / SF$175.81
Days on Market27
Property Features for 56 Nye Street
General Information
Standard status
Active
Size
4,266 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
6
Building Details
Year Built
1890
Listing Agency:
Compass
Listed By:
Leovanni Baessa
(774) 381-3972
Source:
Highlandre
Added: Oct 6
Changed: Oct 30
Last Checked: Oct 30 at 1:38PM
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 Compass
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Investment Insights
Based on property information with market context.
This six-unit apartment property at 56 Nye Street in New Bedford was built in 1890 and contains 4,266 square feet. Separate heating and electrical systems serve the building, and off-street parking is available for residents.
Key Highlights
- Six apartment units
- 4,266 square feet of building area
- Built in 1890
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,297
Cap Rate
7.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,125,940
$1.1M
Cap Rate 7%
$804,243
$804.2K
Cap Rate 9%
$625,522
$625.5K
Market Conditions
NOI Build-Up for 4,266 SF
Gross rent
$110.1K $25.80/SF
− Vacancy
−$7.7K −$1.81/SF
EGI
$102.4K $23.99/SF
− OpEx
−$46.1K −$10.80/SF
NOI
$56.3K $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%
$1,125,940
Cap Rate 7%
$804,243
Cap Rate 9%
$625,522
Alternative Uses
Best Use
Apartment 5plus
$804.2K
$703.7K – $938.3K
NOI $56,297 @ 7.0% cap · market cap 7.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,050 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,010
Businesses Nearby
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Business Placement
Demographics for 02746, MA
17,355
Population
7,640
Households
2.3
Avg Household Size
33
Median Age
10%
College-Educated
67%
High-School Grad
2.8 sq mi
ZIP Area
6,198
Density / Sq Mi
$41,023
Median Household Income
$33,472
Median Earnings
$1,100
Median Rent
$324,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Separate heating and electrical systems support independent service across the apartments.
Where is this apartment building located?
The property is located at 56 Nye Street New Bedford, MA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Six apartment units; 4,266 square feet of building area; Built in 1890
