Renovated Three-Family with
For Sale
$499,900
Pending
9 Cleveland St, New Bedford, MA 02744
Three-family property featuring renovated units and off-street parking.
Property Size1,925 SF
Lot Size0.07 Acres
Days on Market312
Property Features for 9 Cleveland St
General Information
Standard status
Pending
Size
1,925 SF
Lot size
0.07 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$3,720
Building Details
Building Size
1,925 SF
Year Built
1897
Stories
6
Units
3
Listing Agency:
Cameron Real Estate Group
Listed By:
Jermaine A. Hurley · License #9503604
(774) 930-5694
Source:
Elliman
Added: Nov 27, 2025
Changed: Sep 27
Last Checked: Oct 4 at 11:32AM
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
Investment Insights
Based on property information with market context.
This is a renovated three-family property that includes off-street parking and a good-sized backyard. The first and second-floor apartments feature new white shaker cabinets with soft-close doors, granite countertops, vinyl waterproof flooring, and stainless steel appliances. The first floor includes a renovated bathroom with new fixtures and a tiled tub and shower surround. The roof was replaced approximately 10 years ago. The first and second-floor apartments have been freshly painted throughout with modern grey colors. The basement, front, and back hallways have also been freshly painted. The first and second-floor apartments are vacant. The third floor is occupied by a tenant at will.
Key Highlights
- Renovated first and second floor apartments feature new kitchens with white shaker cabinets, granite countertops, and stainless steel appliances, plus updated bathrooms.
- Enjoy the convenience of off‑street parking and a good‑sized backyard.
- Vacant first and second floor apartments offer immediate occupancy or rental potential.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,671
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$553,420
$553.4K
Cap Rate 7%
$395,300
$395.3K
Cap Rate 9%
$307,456
$307.5K
Market Conditions
NOI Build-Up for 1,925 SF
Gross rent
$42.7K $22.20/SF
− Vacancy
−$3.2K −$1.67/SF
EGI
$39.5K $20.54/SF
− OpEx
−$11.9K −$6.16/SF
NOI
$27.7K $14.37/SF
Area
New Bedford, MA
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$553,420
Cap Rate 7%
$395,300
Cap Rate 9%
$307,456
Alternative Uses
Best Use
Multifamily LT 5
$395.3K
$345.9K – $461.2K
NOI $27,671 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$362.9K
$317.6K – $423.4K
NOI $25,404 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$567.6K
$496.7K – $662.2K
NOI $39,732 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
575
Businesses Nearby
Explore this area
Business Placement
Demographics for 02744, MA
13,055
Population
5,609
Households
2.3
Avg Household Size
35
Median Age
13%
College-Educated
72%
High-School Grad
1.3 sq mi
ZIP Area
10,042
Density / Sq Mi
$54,841
Median Household Income
$36,799
Median Earnings
$1,133
Median Rent
$344,800
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family property featuring renovated units and off-street parking.
Where is this triplex located?
The property is located at 9 Cleveland St New Bedford, MA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Renovated first and second floor apartments feature new kitchens with white shaker cabinets, granite countertops, and stainless steel appliances, plus updated bathrooms.; Enjoy the convenience of off‑street parking and a good‑sized backyard.; Vacant first and second floor apartments offer immediate occupancy or rental potential.
