Two-Structure Four-Unit
87-89 Spring Street Medford, MA 02155
87-89 Spring Street, Medford, MA, 02155
$1,499,000
For Sale
$1,499,000
For sale quadplex featuring two separate structures totaling four residential units, with on-site driveway parking for three cars.
Property Size3,388 SF
Price / SF$442.44
Days on Market101
Property Features for 87-89 Spring Street
General Information
- Standard status
- Active
- Size
- 3,388 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
Compass
Listed by
The Shahani Group
(413) 584-2900
Source
Mapleandmainrealty
Added: Apr 12 Updated: Jul 20 at 9:25PM Checked: Jul 21 at 7:06AM
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 Compass
Investment Insights
Based on property information with market context.
This for-sale quadplex includes two separate structures on one lot, totaling four residential units. The unit mix consists of one large five-bedroom apartment, two two-bedroom apartments, and one one-bedroom apartment. The property has undergone multiple updates over time, including replaced water heaters and newer heater systems.
Tenants pay for their own utilities. Parking is available for three cars in the driveway.
The property is offered as a four-unit income asset with a history of updates and a layout designed for separate unit living within two buildings on the same site.
Tenants pay for their own utilities. Parking is available for three cars in the driveway.
The property is offered as a four-unit income asset with a history of updates and a layout designed for separate unit living within two buildings on the same site.
Key Highlights
- Quadplex with two separate structures on one lot, totaling four residential units
- Unit mix includes one large 5‑bedroom unit, two two‑bedroom units, and one one‑bedroom apartment
- Parking for 3 cars in the driveway
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 | $107.7k | $31.80 |
| − Vacancy | −$5.3k | −$1.57 |
| EGI | $102.4k | $30.23 |
| − OpEx | −$30.7k | −$9.07 |
| NOI | $71.7k | $21.16 |
3,388 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$896.1K – $1.19M
NOI $71,691 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$963.0K
$842.6K – $1.12M
NOI $67,410 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$2.01M
$1.75M – $2.34M
NOI $140,398 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - For sale quadplex featuring two separate structures totaling four residential units, with on-site driveway parking for three cars.
Where is this quadplex located?
The property is located at 87-89 Spring Street Medford, MA.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Quadplex with two separate structures on one lot, totaling four residential units; Unit mix includes one large 5‑bedroom unit, two two‑bedroom units, and one one‑bedroom apartment; Parking for 3 cars in the driveway
