Three-Unit Residential Property with
New
For Sale
$869,900
82-84 Willie Street, Lowell, MA 01854
Occupied three-unit property with separate utilities, individual heating systems, and enclosed porches on the upper levels.
Property Size3,771 SF
Price / SF$230.68
Days on Market7
Property Features for 82-84 Willie Street
General Information
Standard status
Active
Size
3,771 SF
Property subtype
Multi-family
Lease Term
[]
Building Details
Year Built
1900
Listing Agency:
Universal Property Management
Listed By:
Brian Donoghue
(617) 262-6200
Source:
Cabotandcompany
Added: Aug 28
Changed: Sep 2
Last Checked: Sep 2 at 8:18PM
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 Universal Property Management
Investment Insights
Based on property information with market context.
Built in 1900, this three-unit residential property contains three similarly configured apartments. Each unit includes a kitchen, living room, four bedrooms, one full bathroom, and a full front porch. The second- and third-floor apartments also have enclosed porches that are not reflected in the room counts. All three units are occupied, with separate electric, heat, hot water, and cooking utility responsibility for each apartment.
The building is separately metered, with individual electrical panels and hot water tanks located in the basement. Two hot water tanks date to 2024 and one dates to 2025. Each apartment has its own heating system, with the first-floor equipment in the basement and the upper-floor systems within their respective units. All apartments are lead compliant, and current rental unit permits are in hand.
The property is served by public transit and is a short distance from the bus depot and train station. The Lowell Connector, RT-3, I-495, and RT-38 are within a quick drive.
The building is separately metered, with individual electrical panels and hot water tanks located in the basement. Two hot water tanks date to 2024 and one dates to 2025. Each apartment has its own heating system, with the first-floor equipment in the basement and the upper-floor systems within their respective units. All apartments are lead compliant, and current rental unit permits are in hand.
The property is served by public transit and is a short distance from the bus depot and train station. The Lowell Connector, RT-3, I-495, and RT-38 are within a quick drive.
Key Highlights
- Three occupied apartments, each with four bedrooms and one full bathroom
- Total monthly rent roll of $6450.00
- Enclosed porches on both the 2nd- and 3rd‑floor units, plus full front porches for all units
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
$74,717
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
8.59%
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%
$1,494,340
$1.5M
Cap Rate 7%
$1,067,386
$1.1M
Cap Rate 9%
$830,189
$830.2K
Market Conditions
NOI Build-Up for 3,771 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
$115.4K $30.60/SF
− Vacancy
−$8.7K −$2.30/SF
EGI
$106.7K $28.31/SF
− OpEx
−$32.0K −$8.49/SF
NOI
$74.7K $19.81/SF
Area
Lowell, MA
Vacancy
7.50%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,494,340
Cap Rate 7%
$1,067,386
Cap Rate 9%
$830,189
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$934.0K – $1.25M
NOI $74,717 @ 7.0% cap · market cap 8.59%
Second Best
Apartment 5plus
$961.0K
$840.9K – $1.12M
NOI $67,269 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,908 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,263
Businesses Nearby
Explore this area
Business Placement
Demographics for 01854, MA
29,561
Population
10,960
Households
2.7
Avg Household Size
31
Median Age
30%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
7,390
Density / Sq Mi
$70,397
Median Household Income
$39,216
Median Earnings
$1,477
Median Rent
$360,500
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?
Triplex - Occupied three-unit property with separate utilities, individual heating systems, and enclosed porches on the upper levels.
Where is this triplex located?
The property is located at 82-84 Willie Street Lowell, MA.
What is the asking price?
The asking price for this property is $869,900.
What are key features of this property?
This property features: Three occupied apartments, each with four bedrooms and one full bathroom; Total monthly rent roll of $6450.00; Enclosed porches on both the 2nd- and 3rd‑floor units, plus full front porches for all units
