Five-Unit Multifamily
94 Main St North Andover, MA 01845
94 Main St, North Andover, MA, 01845
$1,650,000
For Sale
$1,650,000
Five-unit residential property with mixed 1-, 2-, and 3-bedroom layouts, 10 off-street parking spaces, and city water and sewer.
Property Size3,884 SF
Lot Size0.22 Acres
Price / SF$424.82
Days on Market163
Property Features for 94 Main St
General Information
- Standard status
- Active
- Size
- 3,884 SF
- Lot size
- 0.22 Acres
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1900
Listing agency
Lillian Montalto Signature Properties
(978) 475-1400
Listed by
Team Lillian Montalto
Source
Hometown-team
Added: Feb 8 Updated: Jul 21 at 5:08AM Checked: Jul 21 at 5:08AM
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 Lillian Montalto Signature Properties
Investment Insights
Based on property information with market context.
This five-unit multifamily property offers a total of 10 bedrooms across a mix of 1-, 2-, and 3-bedroom layouts, with 5 full and 1 half bathrooms. The building includes an unfinished basement and features a vinyl exterior with an asphalt shingle roof. The property sits on a 0.22-acre corner lot and provides 10 off-street parking spaces.
The asset is located at 94 Main St in North Andover, with convenience to public transportation, shopping, parks, and major highway access.
Available annual operating data reflects current in-place performance, with approximately $142,317 in gross annual rental income and $121,296 in net income.
The asset is located at 94 Main St in North Andover, with convenience to public transportation, shopping, parks, and major highway access.
Available annual operating data reflects current in-place performance, with approximately $142,317 in gross annual rental income and $121,296 in net income.
Key Highlights
- 5‑unit multi‑family at 94 Main Street in North Andover with mixed 1-, 2-, and 3‑bedroom layouts
- Approximately $142,317 gross annual rental income and $121,296 net income reported
- 10 bedrooms and 5 full baths plus 1 half bath across approximately 3,884 sq ft of living space
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 | $111.9k | $28.80 |
| − Vacancy | −$4.5k | −$1.15 |
| EGI | $107.4k | $27.65 |
| − OpEx | −$48.3k | −$12.44 |
| NOI | $59.1k | $15.21 |
3,884 SF · lease $28.80/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$843.7K
$738.3K – $984.4K
NOI $59,062 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.30M
$2.01M – $2.68M
NOI $160,952 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Five-unit residential property with mixed 1-, 2-, and 3-bedroom layouts, 10 off-street parking spaces, and city water and sewer.
Where is this apartment building located?
The property is located at 94 Main St North Andover, MA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 5‑unit multi‑family at 94 Main Street in North Andover with mixed 1-, 2-, and 3‑bedroom layouts; Approximately $142,317 gross annual rental income and $121,296 net income reported; 10 bedrooms and 5 full baths plus 1 half bath across approximately 3,884 sq ft of living space
