Rare Multifamily Investment
9 Abbott Street, New Bedford, MA 02744
Three-unit multifamily property with value-add potential near the Cove.
Type:Multi-family / 3 Family
Property size:
2,417 SFPrice / SF:
$196/SF- Added:
- Jul 27, 2025
- Days on Market:
- 311
- Last Refresh:
- Mar 13 at 2:56 pm
Property Features for 9 Abbott Street
General Information
- Standard status
- Active
- Size
- 2,417 SF
- Property subtype
- Multi-family / 3 Family
Building Details
- Year Built
- 1896
Listing agent Patricia McArdle License #9539683 (508) 999-9800
Listing office Bold Real Estate Inc. (508) 999-9800
Listing date Jul 27, 2025
Source Compass
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 Bold Real Estate Inc.
HighLights
- Rare 3‑unit multifamily property in a desirable location near the Cove.
- Significant upside potential through strategic rent adjustments from undermarket rents.
- Each unit has 2 bedrooms and 1 bathroom with separate gas and electric meters.
- Opportunity to renovate, rebrand, and reposition the property for maximum returns.
- Stable income from long‑term tenants‑at‑will.
- Convenient location with easy access to the Covewalk, hurricane barriers, public transportation, restaurants, and everyday conveniences.
Overview
This three-unit multifamily property presents an investment opportunity in a desirable location near the Cove. Each unit includes 2 bedrooms and 1 bathroom. The units have separate gas and electric meters. The property is currently occupied by long-term tenants-at-will and generates income with undermarket rents, offering immediate value-add potential through rent adjustments. Deferred maintenance provides an opportunity to renovate, rebrand, and reposition the property. The property is located on a quiet street with access to the Covewalk and hurricane barriers, as well as public transportation, restaurants, banks, and other conveniences. The property size is 2417 square feet.
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 | $53.7k | $22.20 |
| − Vacancy | −$4.0k | −$1.67 |
| EGI | $49.6k | $20.54 |
| − OpEx | −$14.9k | −$6.16 |
| NOI | $34.7k | $14.37 |
2,417 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$496.3K
$434.3K – $579.1K
NOI $34,743 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$455.7K
$398.7K – $531.6K
NOI $31,896 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$712.7K
$623.6K – $831.5K
NOI $49,887 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- New Bedford
- County
- Bristol
- State
- Massachusetts
- Longitude
- -70.9133598
- Latitude
- 41.616005
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Three-unit multifamily property with value-add potential near the Cove.
Where is this triplex located?
The property is located at 9 Abbott Street New Bedford, MA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Rare 3‑unit multifamily property in a desirable location near the Cove.; Significant upside potential through strategic rent adjustments from undermarket rents.; Each unit has 2 bedrooms and 1 bathroom with separate gas and electric meters.
