Three-Unit Historic Multifamily
For Sale
$700,000
Pending
9 Bourne St, Lowell, MA 01852
Residential Income, Lowell, MA
Property Size3,253 SF
Lot Size0.09 Acres
Days on Market73
Property Features for 9 Bourne St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
TTF
Bedrooms
11
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 8, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 5, Bedroom 6, Bedroom 1, Bathroom 3, Bedroom 7, Bedroom 11, Bedroom 9, Bedroom 10, Bathroom 1
Elementary school
Lps
Middle school
Lps
High school
Lps Or Glths
Directions
3A to Moore St or Lawrence St to Bourne.
Subdivision
South Lowell
Standard status
Pending
APN
3191087
Size
3,253 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3975
Amenities
storage units
laundry hookups
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Listing Agency:
RE/MAX Innovative Properties · RE/MAX International
(978) 452-4432
Listed By:
Joshua Naughton · License #57445
(603) 434-4101
Added: Jul 25
Changed: Sep 21
Last Checked: Oct 5 at 12:06PM
MLS# 73555029
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,253-square-foot triplex contains three residential units, each currently configured with three bedrooms. The property retains period features including portions of hardwood flooring, decorative woodwork, built-in cabinetry, and kitchen butler’s pantries. Basement areas include roughed-in storage spaces designated separately for each apartment, along with individual laundry hookups.
Built in 1900 on 0.0861 acres, the property will be delivered vacant. With additional work, each unit could be adapted for four bedrooms, creating a potential 12-bedroom configuration. Buyer is responsible for any repairs required by a lender.
Built in 1900 on 0.0861 acres, the property will be delivered vacant. With additional work, each unit could be adapted for four bedrooms, creating a potential 12-bedroom configuration. Buyer is responsible for any repairs required by a lender.
Key Highlights
- Three‑unit property with three bedrooms currently configured in each apartment
- 3,253 square feet on 0.0861 acres
- Basement includes separate roughed‑in storage for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$58,029
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,160,580
$1.2M
Cap Rate 7%
$828,986
$829.0K
Cap Rate 9%
$644,767
$644.8K
Market Conditions
NOI Build-Up for 3,253 SF
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.
Gross rent
$113.2K $34.80/SF
− Vacancy
−$7.7K −$2.37/SF
EGI
$105.5K $32.43/SF
− OpEx
−$47.5K −$14.60/SF
NOI
$58.0K $17.84/SF
Area
Lowell, MA
Vacancy
6.80%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,160,580
Cap Rate 7%
$828,986
Cap Rate 9%
$644,767
Alternative Uses
Best Use
Multifamily LT 5
$920.8K
$805.7K – $1.07M
NOI $64,453 @ 7.0% cap · market cap 9.21%
Second Best
Apartment 5plus
$829.0K
$725.4K – $967.2K
NOI $58,029 @ 7.0% cap · market cap 8.29%
Theoretical Best
Office A
$1.14M
$1.00M – $1.34M
NOI $80,146 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
560
Businesses Nearby
Explore this area
Business Placement
Demographics for 01852, MA
36,708
Population
15,363
Households
2.4
Avg Household Size
37
Median Age
33%
College-Educated
86%
High-School Grad
5.0 sq mi
ZIP Area
7,342
Density / Sq Mi
$77,058
Median Household Income
$48,976
Median Earnings
$1,567
Median Rent
$397,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Vacant three-family building with basement storage and individual laundry hookups.
Where is this triplex located?
The property is located at 9 Bourne St Lowell, MA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Three‑unit property with three bedrooms currently configured in each apartment; 3,253 square feet on 0.0861 acres; Basement includes separate roughed‑in storage for each apartment
