Four-Unit Multifamily
59 Cross Street Southbridge, MA 01550
For Sale
$680,000
Well-maintained four-unit property with 2-bedroom, 1-bath units and leases in place through late 2026.
Property Size3,504 SF
Price / SF$194.06
Days on Market35
Property Features for 59 Cross Street
General Information
- Standard status
- Active
- Size
- 3,504 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing Agency:
www.HomeZu.com
Listed By:
Jason Saphire
(508) 823-9400
Source:
Ballowhutchinsonrealestate
Added: Jun 23
Changed: Jul 25
Last Checked: Jul 26 at 10:00PM
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 www.HomeZu.com
Investment Insights
Based on property information with market context.
Located at 59 Cross Street in Southbridge, this well-maintained four-unit multifamily offers two-bedroom, one-bath living layouts across all units. The property is currently 75% occupied, providing in-place rental income while maintaining a straightforward four-unit structure for an investor or owner-occupant.
Recent capital improvements totaling $32,750 were made across all units and common areas. Documented operating expense history is referenced for 2025 actuals, and all leases are reported to be in place through late 2026.
With a balanced mix of occupied units and documented upgrades, the property is positioned for buyers seeking a managed, turn-key approach to a small residential income asset.
Recent capital improvements totaling $32,750 were made across all units and common areas. Documented operating expense history is referenced for 2025 actuals, and all leases are reported to be in place through late 2026.
With a balanced mix of occupied units and documented upgrades, the property is positioned for buyers seeking a managed, turn-key approach to a small residential income asset.
Key Highlights
- 4‑unit multifamily built in 1900, with four 2BR/1BA units
- Currently 75% occupied with strong in‑place rents totaling $4,660/month
- Seller completed $32,750 in recent capital improvements across all units and common areas
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 | $69.4k | $19.80 |
| − Vacancy | −$1.7k | −$0.49 |
| EGI | $67.7k | $19.31 |
| − OpEx | −$20.3k | −$5.79 |
| NOI | $47.4k | $13.52 |
3,504 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$676.7K
$592.1K – $789.4K
NOI $47,366 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$588.9K
$515.3K – $687.0K
NOI $41,221 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,760 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Well-maintained four-unit property with 2-bedroom, 1-bath units and leases in place through late 2026.
Where is this quadplex located?
The property is located at 59 Cross Street Southbridge, MA.
What is the asking price?
The asking price for this property is $680,000.
What are key features of this property?
This property features: 4‑unit multifamily built in 1900, with four 2BR/1BA units; Currently 75% occupied with strong in‑place rents totaling $4,660/month; Seller completed $32,750 in recent capital improvements across all units and common areas
