Three-Story Apartment
For Sale
Contact for pricing
Pending
69-71 Cedar Street, Malden, MA 02148
Three-story vinyl-sided 12-unit apartment building with off-street parking for five cars near Malden Center MBTA.
Property Size5,996 SF
Lot Size0.18 Acres
Days on Market76
Property Features for 69-71 Cedar Street
General Information
Standard status
Pending
Size
5,996 SF
Total Parking Spaces
7
Lot size
0.18 Acres
Property subtype
Multifamily
Occupancy
97%
Additional Details
Multifamily Units
12
Building Details
Year Built
1925
Buildings
1
Stories
3
Units
12
Tenancy
Multi
Listing Agency:
United Multi Family Corporation
Listed By:
Richard Cawley · License #MA 134301
(617) 529-1141
Source:
Crexi
Added: Jun 22
Changed: Aug 10
Last Checked: Aug 9 at 11:34AM
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 United Multi Family Corporation
Investment Insights
Based on property information with market context.
The apartments at 69–71 Cedar Street comprise a three-story, vinyl-sided building constructed in 1925 containing 12 units totaling 8,454 gross square feet and 5,996 rentable square feet. The unit mix includes six two-room studios referenced as one bedroom in the rent roll and six studio apartments. Off-street parking is available for five cars, with four spaces included in the rent for units 1, 7, 9, and 12.
The property is located on a 7,697-square-foot lot and is described as walkable, with a Walk Score of 91. It is approximately a five-minute walk to the Malden Center MBTA Station, offering direct Orange Line and commuter rail access to downtown Boston.
This is a compact multifamily asset designed for straightforward operation, with a single building housing all 12 units and dedicated off-street parking for select tenants.
The property is located on a 7,697-square-foot lot and is described as walkable, with a Walk Score of 91. It is approximately a five-minute walk to the Malden Center MBTA Station, offering direct Orange Line and commuter rail access to downtown Boston.
This is a compact multifamily asset designed for straightforward operation, with a single building housing all 12 units and dedicated off-street parking for select tenants.
Key Highlights
- 12‑unit, three‑story vinyl‑sided apartment building built in 1925
- Total 8,454 gross SF and 5,996 rentable SF
- Unit mix includes 6 two‑room studios (shown as 1‑bedroom in the rent roll) and 6 studios
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
$119,300
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
4.26%
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%
$2,386,000
$2.4M
Cap Rate 7%
$1,704,286
$1.7M
Cap Rate 9%
$1,325,556
$1.3M
Market Conditions
NOI Build-Up for 5,996 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
$228.8K $38.16/SF
− Vacancy
−$11.9K −$1.98/SF
EGI
$216.9K $36.18/SF
− OpEx
−$97.6K −$16.28/SF
NOI
$119.3K $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%
$2,386,000
Cap Rate 7%
$1,704,286
Cap Rate 9%
$1,325,556
Alternative Uses
Best Use
Apartment 5plus
$1.70M
$1.49M – $1.99M
NOI $119,300 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.55M
$3.11M – $4.14M
NOI $248,473 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,882
Businesses Nearby
Explore this area
Business Placement
Demographics for 02148, MA
66,274
Population
28,043
Households
2.4
Avg Household Size
36
Median Age
45%
College-Educated
87%
High-School Grad
5.0 sq mi
ZIP Area
13,255
Density / Sq Mi
$95,298
Median Household Income
$56,077
Median Earnings
$2,066
Median Rent
$607,500
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 - Three-story vinyl-sided 12-unit apartment building with off-street parking for five cars near Malden Center MBTA.
Where is this apartment building located?
The property is located at 69-71 Cedar Street Malden, MA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 12‑unit, three‑story vinyl‑sided apartment building built in 1925; Total 8,454 gross SF and 5,996 rentable SF; Unit mix includes 6 two‑room studios (shown as 1‑bedroom in the rent roll) and 6 studios
