17-Unit Brick Apartment
83 Pleasant, Marlborough, MA 01752
For Sale
New
$3,450,000
Pending
The unit mix includes eleven one-bedroom apartments and six studio units.
Property Size10,007 SF
Days on Market3
Property Features for 83 Pleasant
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Cap Rate
Highway Access
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Construction
Listing Agency:
Carl Christie
Listed By:
Carl Christie · License MA #9521806
(781) 888-5284
Source:
Joanieschwartzrealestate
Added: Nov 11
Last Checked: Nov 13 at 7:30AM
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 Carl Christie
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Investment Insights
Based on property information with market context.
This 10,007-square-foot apartment property contains 17 units: eleven one-bedroom apartments and six studios. The brick garden-style building dates to 1947 and is zoned NB. Roof and heating system updates were completed within approximately the past 11 years.
The property offers off-street parking and is near downtown, with access to I-495.
The property offers off-street parking and is near downtown, with access to I-495.
Key Highlights
- 17 apartments: eleven 1‑BR units and six studios
- 10,007‑square‑foot brick garden‑style building
- Roof and heating systems updated within the last 11 +/- years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$199,106
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,982,120
$4.0M
Cap Rate 7%
$2,844,371
$2.8M
Cap Rate 9%
$2,212,289
$2.2M
Market Conditions
NOI Build-Up for 10,007 SF
Gross rent
$381.9K $38.16/SF
− Vacancy
−$19.9K −$1.98/SF
EGI
$362.0K $36.18/SF
− OpEx
−$162.9K −$16.28/SF
NOI
$199.1K $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 Rate 5%
$3,982,120
Cap Rate 7%
$2,844,371
Cap Rate 9%
$2,212,289
Alternative Uses
Best Use
Apartment 5plus
$2.84M
$2.49M – $3.32M
NOI $199,106 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.92M
$5.18M – $6.91M
NOI $414,688 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
17
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
999
Businesses Nearby
Explore this area
Business Placement
Demographics for 01752, MA
41,793
Population
17,370
Households
2.4
Avg Household Size
40
Median Age
41%
College-Educated
89%
High-School Grad
20.9 sq mi
ZIP Area
2,000
Density / Sq Mi
$95,047
Median Household Income
$49,012
Median Earnings
$1,721
Median Rent
$485,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Middlesex County, MA
Properties on Market for Apartment buildings in Middlesex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - The unit mix includes eleven one-bedroom apartments and six studio units.
Where is this apartment building located?
The property is located at 83 Pleasant Marlborough, MA.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: 17 apartments: eleven 1‑BR units and six studios; 10,007‑square‑foot brick garden‑style building; Roof and heating systems updated within the last 11 +/- years
