Four-Unit Quadplex with
For Sale
$899,900
Pending
941 Lakeview Ave, Lowell, MA 01850
Corner-lot quadplex with separately metered utilities, dedicated laundry hookups, and paved off-street parking.
Property Size4,194 SF
Days on Market18
Property Features for 941 Lakeview Ave
General Information
Standard status
Pending
Size
4,194 SF
Total Parking Spaces
4
Property subtype
Residential Income
Occupancy
50%
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 1BR, 2 x 2BR
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,850
Amenities
granite countertops
basement laundry hookups
porches
Building Details
Tenancy
Multi
Listing Agency:
eXp Realty LLC - Corporate Office
(888) 854-7493
Listed By:
Mary Ribeiro
(980) 961-0067
Source:
Exprealty
Added: Sep 9
Changed: Sep 25
Last Checked: Sep 24 at 2:33PM
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 eXp Realty LLC - Corporate Office
Investment Insights
Based on property information with market context.
Located at 941 Lakeview Avenue in Lowell’s Centralville neighborhood, this 4,194-square-foot quadplex includes four residential units arranged as two one-bedroom apartments and two two-bedroom apartments. The building offers open and enclosed porches, a paved driveway with parking for four vehicles, and basement laundry hookups assigned to each unit.
Gas and electric service are individually metered for every apartment. Unit 1R has new appliances, while Unit 1F received fresh paint, a new bathroom vanity, and new appliances in 2025. Unit 2F has a heating system that was replaced 2 years ago. Granite countertops are installed throughout the property, and three units have de-lead certificates.
Two apartments are vacant and two are occupied by tenants at will. The current configuration supports continued rental use while also allowing an owner to occupy one unit or maintain the existing arrangement.
Gas and electric service are individually metered for every apartment. Unit 1R has new appliances, while Unit 1F received fresh paint, a new bathroom vanity, and new appliances in 2025. Unit 2F has a heating system that was replaced 2 years ago. Granite countertops are installed throughout the property, and three units have de-lead certificates.
Two apartments are vacant and two are occupied by tenants at will. The current configuration supports continued rental use while also allowing an owner to occupy one unit or maintain the existing arrangement.
Key Highlights
- Four‑unit layout with two 1‑bedroom and two 2‑bedroom apartments
- 4,194 SF quadplex on a corner lot in Lowell’s Centralville neighborhood
- Individual gas and electric metering for all four units
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
$74,815
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
8.31%
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%
$1,496,300
$1.5M
Cap Rate 7%
$1,068,786
$1.1M
Cap Rate 9%
$831,278
$831.3K
Market Conditions
NOI Build-Up for 4,194 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
$146.0K $34.80/SF
− Vacancy
−$9.9K −$2.37/SF
EGI
$136.0K $32.43/SF
− OpEx
−$61.2K −$14.60/SF
NOI
$74.8K $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%
$1,496,300
Cap Rate 7%
$1,068,786
Cap Rate 9%
$831,278
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.38M
NOI $83,098 @ 7.0% cap · market cap 9.23%
Second Best
Apartment 5plus
$1.07M
$935.2K – $1.25M
NOI $74,815 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,329 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
50%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
561
Businesses Nearby
Explore this area
Business Placement
Demographics for 01850, MA
16,670
Population
6,028
Households
2.8
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
1.4 sq mi
ZIP Area
11,907
Density / Sq Mi
$67,581
Median Household Income
$42,096
Median Earnings
$1,666
Median Rent
$367,200
Median Home Value
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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?
Quadplex - Corner-lot quadplex with separately metered utilities, dedicated laundry hookups, and paved off-street parking.
Where is this quadplex located?
The property is located at 941 Lakeview Ave Lowell, MA.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Four‑unit layout with two 1‑bedroom and two 2‑bedroom apartments; 4,194 SF quadplex on a corner lot in Lowell’s Centralville neighborhood; Individual gas and electric metering for all four units
