Three-Unit Residential
89 Third St, Lowell, MA 01850
For Sale
$819,999
Pending
Three separate residences include renovated kitchens and dedicated utility areas within each unit.
Property Size3,248 SF
Days on Market22
Property Features for 89 Third St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Neighborhood
Highway Access
Public Transit
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
on-site coin-operated laundry
private backyard
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Cameron Real Estate Group
(781) 486-3180
Listed By:
Marcos Leite
(617) 334-5338
Source:
Berettarealty
Added: Oct 20
Changed: Nov 7
Last Checked: Nov 9 at 5:13AM
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 Cameron Real Estate Group
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Investment Insights
Based on property information with market context.
This triplex contains 3 units, 9 bedrooms, and 3 full bathrooms across 3,248 square feet. Renovated kitchens feature quartz countertops, stainless steel appliances, and updated finishes, while each residence has a dedicated utility area. The property also includes coin-operated laundry, a private backyard, and a paved driveway with parking for 4 vehicles. Built in 1880, it is zoned TTF.
The property is in Lowell’s Centralville neighborhood, minutes from downtown Lowell, UMass Lowell, Middlesex Community College, I-495, and the Lowell Commuter Rail.
The property is in Lowell’s Centralville neighborhood, minutes from downtown Lowell, UMass Lowell, Middlesex Community College, I-495, and the Lowell Commuter Rail.
Key Highlights
- Three units with a combined 9 bedrooms and 3 full bathrooms
- 3,248 square feet; built in 1880
- Renovated kitchens with quartz countertops and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,354
Cap Rate
7.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,287,080
$1.3M
Cap Rate 7%
$919,343
$919.3K
Cap Rate 9%
$715,044
$715.0K
Market Conditions
NOI Build-Up for 3,248 SF
Gross rent
$99.4K $30.60/SF
− Vacancy
−$7.5K −$2.30/SF
EGI
$91.9K $28.31/SF
− OpEx
−$27.6K −$8.49/SF
NOI
$64.4K $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 Rate 5%
$1,287,080
Cap Rate 7%
$919,343
Cap Rate 9%
$715,044
Alternative Uses
Best Use
Multifamily LT 5
$919.3K
$804.4K – $1.07M
NOI $64,354 @ 7.0% cap · market cap 7.85%
Second Best
Apartment 5plus
$827.7K
$724.2K – $965.7K
NOI $57,939 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$1.14M
$1.00M – $1.33M
NOI $80,022 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,223
Businesses Nearby
Explore this area
Business Placement
Demographics for 01850, MA
16,670
Population
6,028
Households
2.8
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
1.4 sq mi
ZIP Area
11,907
Density / Sq Mi
$67,581
Median Household Income
$42,096
Median Earnings
$1,666
Median Rent
$367,200
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Middlesex County, MA
Properties on Market for Triplexes in Middlesex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences include renovated kitchens and dedicated utility areas within each unit.
Where is this triplex located?
The property is located at 89 Third St Lowell, MA.
What is the asking price?
The asking price for this property is $819,999.
What are key features of this property?
This property features: Three units with a combined 9 bedrooms and 3 full bathrooms; 3,248 square feet; built in 1880; Renovated kitchens with quartz countertops and stainless steel appliances
