Three-Unit Residential Income
64 Milk Street Westborough, MA 01581
64 Milk Street, Westborough, MA, 01581
$700,000
Pending
For Sale
$700,000
Pending
Three apartments with individual gas heat, eat-in kitchens, and paved off-street parking in a walkable downtown setting.
Property Size2,439 SF
Days on Market138
Property Features for 64 Milk Street
General Information
- Standard status
- Pending
- Size
- 2,439 SF
- Property subtype
- Multi-family / 3 Family - 3 Units Up/Down
Building Details
- Year Built
- 1800
Listing agency
ERA Key Realty Services - Westborough
(508) 366-1818
Listed by
Joyce Loretta Kelley · License #9080943
(508) 366-1818
Source
Compass
Added: Mar 6 Updated: Jul 22 at 12:16AM Checked: Jul 22 at 12:16AM
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 ERA Key Realty Services - Westborough
Investment Insights
Based on property information with market context.
This 3-family investment/owner-occupied property offers twelve rooms across three apartments, with six bedrooms and three full bathrooms. Each unit features a similar layout with an eat-in kitchen, living room, two bedrooms with closets, and a full bathroom with a linen closet in the hallway. Gas stove cooking is provided in each apartment, and the units have individual economical gas heat systems, along with separate electric service. Common front and back hallways have been freshly painted in a neutral palette, and recent updates include new carpet on the 3rd-floor unit’s bedrooms and living room, a new gas stove in that unit’s kitchen, and recently shampooed carpet on the 1st-floor unit. The 1st-floor unit also includes a Rinnai gas tankless heat system, and exterior vinyl siding is noted.
The property is described as being within 3 miles of commuter rail and conveniently located near many major roadways, including 9/495/90/20. Downtown access is also characterized as walkable to shops, restaurants, the library, and schools.
The three apartments share a consistent floor plan, with off-street parking provided and a paved surface called out in the listing description.
The property is described as being within 3 miles of commuter rail and conveniently located near many major roadways, including 9/495/90/20. Downtown access is also characterized as walkable to shops, restaurants, the library, and schools.
The three apartments share a consistent floor plan, with off-street parking provided and a paved surface called out in the listing description.
Key Highlights
- Three‑family property with 12 rooms, 6 bedrooms, and 3 full bathrooms
- Each apartment has individual economical gas heat systems and includes a gas stove for cooking
- Interior includes eat‑in kitchens, living rooms, and bedrooms with closets; common hallways freshly painted
Local 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 | $48.3k | $19.80 |
| − Vacancy | −$1.2k | −$0.49 |
| EGI | $47.1k | $19.31 |
| − OpEx | −$14.1k | −$5.79 |
| NOI | $33.0k | $13.52 |
2,439 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$471.0K
$412.1K – $549.5K
NOI $32,970 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$409.9K
$358.7K – $478.2K
NOI $28,692 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$832.9K
$728.8K – $971.7K
NOI $58,302 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three apartments with individual gas heat, eat-in kitchens, and paved off-street parking in a walkable downtown setting.
Where is this triplex located?
The property is located at 64 Milk Street Westborough, MA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Three‑family property with 12 rooms, 6 bedrooms, and 3 full bathrooms; Each apartment has individual economical gas heat systems and includes a gas stove for cooking; Interior includes eat‑in kitchens, living rooms, and bedrooms with closets; common hallways freshly painted
