6-Unit Apartment
For Sale
$1,199,000
70 South Street, Westborough, MA 01581
Fully occupied corner-lot property with separately metered utilities, attic and basement access, and off-street parking.
Property Size3,643 SF
Price / SF$329.12
Days on Market187
Property Features for 70 South Street
General Information
Standard status
Active
Size
3,643 SF
Total Parking Spaces
10
Property subtype
Multi-family
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA, 4 x 1BR/1BA
Multifamily Units
6
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Cairo Realty
(508) 308-9312
Listed By:
Mina Shenouda
(617) 846-8000
Source:
Highlandre
Added: Feb 25
Changed: Aug 29
Last Checked: Aug 30 at 5:18PM
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 Cairo Realty
Investment Insights
Based on property information with market context.
This 6-unit apartment building was constructed in 1900 and is fully occupied. The unit mix includes two 2-bedroom, 1-bathroom apartments and four 1-bedroom, 1-bathroom apartments. Each residence has separate gas and electric meters, while the property is connected to public water and public sewer. Tenant-at-Will arrangements are in place, and the building provides access to both the attic and basement for additional storage.
The property sits on a corner lot and includes 10 off-street parking spaces. It is located at 70 South Street in Westborough, Massachusetts, with access to I-495, I-90, and RT.9, as well as a train station. The building contains 3,643 square feet of property size.
The property sits on a corner lot and includes 10 off-street parking spaces. It is located at 70 South Street in Westborough, Massachusetts, with access to I-495, I-90, and RT.9, as well as a train station. The building contains 3,643 square feet of property size.
Key Highlights
- 6‑unit multifamily property with 2 two‑bedroom units and 4 one‑bedroom units
- Fully occupied building constructed in 1900
- 10 off‑street parking spaces on a corner lot
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
$42,856
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
3.57%
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%
$857,120
$857.1K
Cap Rate 7%
$612,229
$612.2K
Cap Rate 9%
$476,178
$476.2K
Market Conditions
NOI Build-Up for 3,643 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
$80.0K $21.96/SF
− Vacancy
−$2.1K −$0.57/SF
EGI
$77.9K $21.39/SF
− OpEx
−$35.1K −$9.63/SF
NOI
$42.9K $11.76/SF
Area
Worcester County, MA
Vacancy
2.60%
Lease Rate
$21.96 /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%
$857,120
Cap Rate 7%
$612,229
Cap Rate 9%
$476,178
Alternative Uses
Best Use
Apartment 5plus
$612.2K
$535.7K – $714.3K
NOI $42,856 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,082 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
774
Businesses Nearby
Explore this area
Business Placement
Demographics for 01581, MA
21,567
Population
8,407
Households
2.6
Avg Household Size
39
Median Age
66%
College-Educated
96%
High-School Grad
20.6 sq mi
ZIP Area
1,047
Density / Sq Mi
$134,474
Median Household Income
$82,045
Median Earnings
$2,038
Median Rent
$637,900
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 - Fully occupied corner-lot property with separately metered utilities, attic and basement access, and off-street parking.
Where is this apartment building located?
The property is located at 70 South Street Westborough, MA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: 6‑unit multifamily property with 2 two‑bedroom units and 4 one‑bedroom units; Fully occupied building constructed in 1900; 10 off‑street parking spaces on a corner lot
