Southbridge Multifamily Investment
88 Cross Street Southbridge, MA 01550
88 Cross Street, Southbridge, MA, 01550
$1,275,000
For Sale
$1,275,000
Well-maintained 8-unit property with strong rental history and upside potential.
Property Size5,224 SF
Price / SF$244.07
Days on Market61
Property Features for 88 Cross Street
General Information
- Standard status
- Active
- Size
- 5,224 SF
- Property subtype
- Multi-family / 5-9 Family
Building Details
- Year Built
- 1900
Listing Agency
Saphire Hospitality, Inc.
(508) 297-6723
Listed by
Jason Saphire · License #9086666
(508) 297-6723
Source
Compass
Added: May 17 Checked: Jul 16 at 1:40 pm
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 Saphire Hospitality, Inc.
Investment Insights
Based on property information with market context.
This well-maintained 8-unit multifamily property is located in Southbridge. It offers immediate cash flow and a strong rental history. The property includes a mix of one, two, and three-bedroom units. The unit breakdown is as follows: Basement (2BR), 1L (2BR), 1R (3BR), 1Rear (2BR), 2L (2BR), 2R (2BR), 3L (3BR), and 3R (1BR). The current gross monthly rent is $9,242, averaging $1,540 per unit. The property is offered at $1,320,000. Annual expenses include property taxes, disposal and waste fees, electricity, and water and sewer. Several units currently show below-market rents, presenting upside potential for an experienced investor. This property is ideal for a 1031 exchange or portfolio addition. Easy highway access and proximity to local amenities make this a sought-after location for long-term tenants. The property size is 5,224 square feet.
Key Highlights
- Immediate cash flow with $9,242 gross monthly rent from a strong rental history.
- Upside potential with below‑market rents in several units.
- Well‑maintained 8‑unit multifamily property.
Local Financial Insights For Apartment 5plus
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 | $114.7k | $21.96 |
| − Vacancy | −$3.0k | −$0.57 |
| EGI | $111.7k | $21.39 |
| − OpEx | −$50.3k | −$9.63 |
| NOI | $61.5k | $11.76 |
5,224 SF · lease $21.96/SF/yr · vacancy 2.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$877.9K
$768.2K – $1.02M
NOI $61,455 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,874 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Well-maintained 8-unit property with strong rental history and upside potential.
Where is this apartment building located?
The property is located at 88 Cross Street Southbridge, MA.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Immediate cash flow with **$9,242 gross monthly rent** from a strong rental history.; Upside potential with below‑market rents in several units.; Well‑maintained 8‑unit multifamily property.
