Five-Unit Mixed-Use
63-65 Lakeview Avenue, Lowell, MA 01850
For Sale
New
$665,000
Three floors combine a ground-level commercial space with four apartments above, plus three rear parking spaces.
Property Size3,588 SF
Price / SF$185.34
Days on Market2
Property Features for 63-65 Lakeview Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Occupancy
Property Condition
Severity
Evidence
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Tenancy
Listing Agency:
Dori Anne Realty
Listed By:
Dorianne Alexandropoulos
(978) 697-5468
Source:
Clementsrealty
Added: Nov 6
Changed: Nov 7
Last Checked: Nov 7 at 2:13PM
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 Dori Anne Realty
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Investment Insights
Based on property information with market context.
This three-story mixed-use property contains five occupied units. The ground floor is a commercial space currently used as a place of worship; the second and third floors hold four apartments: two with one bedroom and two with two bedrooms. The building totals 3,588 square feet and was built in 1920. Zoning is Mixed Use, Legal Non-Conforming.
A shared driveway serves the property, with three additional parking spaces at the rear. Heating and air-conditioning systems were updated in the four residential units within the last 2–3 years, and the commercial space has a newer oil-fired heating and air-conditioning system. Cosmetic updates may be considered.
A shared driveway serves the property, with three additional parking spaces at the rear. Heating and air-conditioning systems were updated in the four residential units within the last 2–3 years, and the commercial space has a newer oil-fired heating and air-conditioning system. Cosmetic updates may be considered.
Key Highlights
- Five occupied units across three floors
- Ground‑floor commercial unit currently used as a place of worship
- Four apartments: two 1‑bedroom and two 2‑bedroom units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,417
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,188,340
$1.2M
Cap Rate 7%
$848,814
$848.8K
Cap Rate 9%
$660,189
$660.2K
Market Conditions
NOI Build-Up for 3,588 SF
Gross rent
$103.3K $28.80/SF
− Vacancy
−$8.3K −$2.30/SF
EGI
$95.1K $26.50/SF
− OpEx
−$35.7K −$9.94/SF
NOI
$59.4K $16.56/SF
Area
Lowell, MA
Vacancy
8.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,188,340
Cap Rate 7%
$848,814
Cap Rate 9%
$660,189
Alternative Uses
Best Use
Apartment 5plus
$914.3K
$800.1K – $1.07M
NOI $64,004 @ 7.0% cap · market cap 9.62%
Second Best
Mixed Use
$848.8K
$742.7K – $990.3K
NOI $59,417 @ 7.0% cap · market cap 8.93%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,399 @ 7.0% cap · market cap 13.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,599
Businesses Nearby
Explore this area
Business Placement
Demographics for 01850, MA
16,670
Population
6,028
Households
2.8
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
1.4 sq mi
ZIP Area
11,907
Density / Sq Mi
$67,581
Median Household Income
$42,096
Median Earnings
$1,666
Median Rent
$367,200
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Lowell, MA
Properties on Market for Mixed-use properties in Lowell
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three floors combine a ground-level commercial space with four apartments above, plus three rear parking spaces.
Where is this mixed-use property located?
The property is located at 63-65 Lakeview Avenue Lowell, MA.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: Five occupied units across three floors; Ground‑floor commercial unit currently used as a place of worship; Four apartments: two 1‑bedroom and two 2‑bedroom units
