Three-Unit Multi-Family
For Sale
$899,900
Pending
6 Richmond Park, Woburn, MA 01801
Three-unit residential income property with separately metered units and updated utilities in Woburn, MA.
Property Size3,309 SF
Days on Market170
Property Features for 6 Richmond Park
General Information
Standard status
Pending
Size
3,309 SF
Property subtype
3 Family
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
1930
Tenancy
Multi
Listing Agency:
Amicone & Associates
Listed By:
Nikolas Amicone
(978) 998-2867
Source:
Lockandkeyre
Added: May 6
Changed: Oct 21
Last Checked: Oct 20 at 10:24PM
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 Amicone & Associates
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Investment Insights
Based on property information with market context.
6 Richmond Park is a three-unit multi-family residential income property. The units are separately metered, and the property features updated utilities, supporting independent billing for each unit.
The property is located in Woburn, Massachusetts, about 11 miles from Boston. It offers access to I-93 and I-95/Rt 128, with the Anderson Regional Transit Center described as minutes away for rail and Logan Express access.
The home is presented as a long-term income asset, with remarks indicating more than 50 years of steady income production. Additional nearby lifestyle options referenced include Horn Pond trails and Woburn Village dining and shopping.
The property is located in Woburn, Massachusetts, about 11 miles from Boston. It offers access to I-93 and I-95/Rt 128, with the Anderson Regional Transit Center described as minutes away for rail and Logan Express access.
The home is presented as a long-term income asset, with remarks indicating more than 50 years of steady income production. Additional nearby lifestyle options referenced include Horn Pond trails and Woburn Village dining and shopping.
Key Highlights
- 3‑unit multi‑family in Woburn, MA, built in 1930
- Separately metered units and updated utilities
- Income‑producing property with 50+ years of steady income production
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,020
Cap Rate
7.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,400,400
$1.4M
Cap Rate 7%
$1,000,286
$1.0M
Cap Rate 9%
$778,000
$778.0K
Market Conditions
NOI Build-Up for 3,309 SF
Gross rent
$105.2K $31.80/SF
− Vacancy
−$5.2K −$1.57/SF
EGI
$100.0K $30.23/SF
− OpEx
−$30.0K −$9.07/SF
NOI
$70.0K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,400,400
Cap Rate 7%
$1,000,286
Cap Rate 9%
$778,000
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$875.3K – $1.17M
NOI $70,020 @ 7.0% cap · market cap 7.78%
Second Best
Apartment 5plus
$940.5K
$823.0K – $1.10M
NOI $65,838 @ 7.0% cap · market cap 7.32%
Theoretical Best
Office A
$1.96M
$1.71M – $2.29M
NOI $137,124 @ 7.0% cap · market cap 15.24%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
892
Businesses Nearby
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Business Placement
Demographics for 01801, MA
40,891
Population
16,982
Households
2.4
Avg Household Size
41
Median Age
47%
College-Educated
94%
High-School Grad
12.7 sq mi
ZIP Area
3,220
Density / Sq Mi
$107,754
Median Household Income
$60,637
Median Earnings
$2,190
Median Rent
$641,800
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?
Triplex - Three-unit residential income property with separately metered units and updated utilities in Woburn, MA.
Where is this triplex located?
The property is located at 6 Richmond Park Woburn, MA.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 3‑unit multi‑family in Woburn, MA, built in 1930; Separately metered units and updated utilities; Income‑producing property with 50+ years of steady income production
