10-Unit Multifamily Apartment
For Sale
$1,950,000
63 Cottage Ln, Concord, MA 01742
Well-maintained mix of studio and one-bedroom units with off-street parking and on-site laundry.
Property Size4,927 SF
Days on Market48
Property Features for 63 Cottage Ln
General Information
Standard status
Active
Size
4,927 SF
Property subtype
Investment
Additional Details
Multifamily Units
10
Taxes and HOA fees
Annual Taxes
$17,835
Building Details
Building Size
4,927 SF
Year Built
1850
Stories
3
Units
10
Tenancy
Multi
Listing Agency:
Northeast Private Client Group | Greater Boston
(309) 825-1662
Listed By:
Tom Egbers · License #134670
(309) 825-1662
Source:
Elliman
Added: Jun 25
Changed: Aug 10
Last Checked: Aug 10 at 6:07AM
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 Northeast Private Client Group | Greater Boston
Investment Insights
Based on property information with market context.
The Cottage Lane Apartments is a well-maintained 10-unit multifamily property with (4) studio units and (6) one-bedroom apartments. The building offers off-street parking and on-site laundry facilities for residents. Electric service is separately metered, with the owner responsible for heat and hot water. The property has also undergone significant capital improvements, including a roof replacement and lead compliance certification for all units.
Located in the heart of historic Concord, the property is just minutes from Concord Center and the MBTA Commuter Rail. Residents have convenient access to Cambridge and Boston, along with Concord’s schools, downtown, shops, restaurants, and cultural attractions.
This is a practical fit for buyers looking to acquire a smaller multifamily asset with a balanced studio and one-bedroom mix. Recent building improvements and completed lead compliance certification support day-to-day operations, while separately metered electric can help streamline utility administration. The on-site laundry and off-street parking add straightforward tenant conveniences for a residential income property.
Located in the heart of historic Concord, the property is just minutes from Concord Center and the MBTA Commuter Rail. Residents have convenient access to Cambridge and Boston, along with Concord’s schools, downtown, shops, restaurants, and cultural attractions.
This is a practical fit for buyers looking to acquire a smaller multifamily asset with a balanced studio and one-bedroom mix. Recent building improvements and completed lead compliance certification support day-to-day operations, while separately metered electric can help streamline utility administration. The on-site laundry and off-street parking add straightforward tenant conveniences for a residential income property.
Key Highlights
- 10‑unit multifamily (built 1850) in historic Concord with 4 studio units and 6 one‑bedroom apartments
- Off‑street parking plus on‑site laundry facilities for residents
- Separately metered electric service; owner is responsible for heat and hot water
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$98,031
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,960,620
$2.0M
Cap Rate 7%
$1,400,443
$1.4M
Cap Rate 9%
$1,089,233
$1.1M
Market Conditions
NOI Build-Up for 4,927 SF
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.
Gross rent
$188.0K $38.16/SF
− Vacancy
−$9.8K −$1.98/SF
EGI
$178.2K $36.18/SF
− OpEx
−$80.2K −$16.28/SF
NOI
$98.0K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,960,620
Cap Rate 7%
$1,400,443
Cap Rate 9%
$1,089,233
Alternative Uses
Best Use
Apartment 5plus
$1.40M
$1.23M – $1.63M
NOI $98,031 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.92M
$2.55M – $3.40M
NOI $204,174 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
713
Businesses Nearby
Explore this area
Business Placement
Demographics for 01742, MA
18,545
Population
6,659
Households
2.8
Avg Household Size
47
Median Age
79%
College-Educated
96%
High-School Grad
24.1 sq mi
ZIP Area
770
Density / Sq Mi
$211,435
Median Household Income
$112,975
Median Earnings
$2,471
Median Rent
$1,139,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained mix of studio and one-bedroom units with off-street parking and on-site laundry.
Where is this apartment building located?
The property is located at 63 Cottage Ln Concord, MA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 10‑unit multifamily (built 1850) in historic Concord with 4 studio units and 6 one‑bedroom apartments; Off‑street parking plus on‑site laundry facilities for residents; Separately metered electric service; owner is responsible for heat and hot water
