Five-Unit Multifamily
For Sale
$1,599,000
94 Main St, North Andover, MA 01845
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$411.69
Days on Market153
Property Features for 94 Main St
General Information
Standard status
Active
Size
3,884 SF
Total Parking Spaces
10
Lot size
0.22 Acres
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Business Included
Yes
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$10,899
Building Details
Building Size
3,884 SF
Year Built
1900
Tenancy
Multi
Listing Agency:
Lillian Montalto Signature Properties
Listed By:
Team Lillian Montalto
(978) 475-1400
Source:
Classifiedrealtygroup
Added: May 21
Changed: Oct 19
Last Checked: Oct 19 at 4:01AM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,062
Cap Rate
3.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,181,240
$1.2M
Cap Rate 7%
$843,743
$843.7K
Cap Rate 9%
$656,244
$656.2K
Market Conditions
NOI Build-Up for 3,884 SF
Gross rent
$111.9K $28.80/SF
− Vacancy
−$4.5K −$1.15/SF
EGI
$107.4K $27.65/SF
− OpEx
−$48.3K −$12.44/SF
NOI
$59.1K $15.21/SF
Area
Essex County, MA
Vacancy
4.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,181,240
Cap Rate 7%
$843,743
Cap Rate 9%
$656,244
Alternative Uses
Best Use
Apartment 5plus
$843.7K
$738.3K – $984.4K
NOI $59,062 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.30M
$2.01M – $2.68M
NOI $160,952 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
5
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,179
Businesses Nearby
Explore this area
Business Placement
Demographics for 01845, MA
31,855
Population
12,010
Households
2.7
Avg Household Size
39
Median Age
61%
College-Educated
97%
High-School Grad
26.4 sq mi
ZIP Area
1,207
Density / Sq Mi
$134,319
Median Household Income
$64,592
Median Earnings
$2,113
Median Rent
$670,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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 $1,599,000.
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
