3-Unit Residential
96 Lombard St, New Bedford, MA 02740
For Sale
New
$549,000
Residential Income, New Bedford, MA
Property Size2,762 SF
Lot Size0.07 Acres
Price / SF$198.77
Days on Market5
Property Features for 96 Lombard St
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Annual Amount
Amenities
fenced backyard
Building Details
Year built
Floors in Building
Number of units
Listing Agency:
RE/MAX Vantage · RE/MAX International
(774) 992-0297
Listed By:
Eddie Lopez
(508) 999-4424
Added: Nov 3
Changed: Nov 7
Last Checked: Nov 7 at 7:06AM
MLS# 73598152
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.
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Investment Insights
Based on property information with market context.
This three-unit residential property at 96 Lombard St in New Bedford dates to 1915 and contains 2,762 square feet on a 0.0735-acre lot. The first and second floors each have two bedrooms and a double parlor; the third floor has one bedroom and a double parlor. Exterior features include vinyl siding and a fenced backyard.
All three units are occupied by tenants at will. The property is zoned RC.
All three units are occupied by tenants at will. The property is zoned RC.
Key Highlights
- Three units in a 2,762‑square‑foot building
- First and second floors each have two bedrooms and a double parlor
- Third floor includes one bedroom and a double parlor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,702
Cap Rate
7.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$794,040
$794.0K
Cap Rate 7%
$567,171
$567.2K
Cap Rate 9%
$441,133
$441.1K
Market Conditions
NOI Build-Up for 2,762 SF
Gross rent
$61.3K $22.20/SF
− Vacancy
−$4.6K −$1.67/SF
EGI
$56.7K $20.54/SF
− OpEx
−$17.0K −$6.16/SF
NOI
$39.7K $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%
$794,040
Cap Rate 7%
$567,171
Cap Rate 9%
$441,133
Alternative Uses
Best Use
Multifamily LT 5
$567.2K
$496.3K – $661.7K
NOI $39,702 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$520.7K
$455.6K – $607.5K
NOI $36,449 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$814.4K
$712.6K – $950.1K
NOI $57,008 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,402
Businesses Nearby
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Business Placement
Demographics for 02740, MA
45,166
Population
20,532
Households
2.2
Avg Household Size
39
Median Age
18%
College-Educated
77%
High-School Grad
5.7 sq mi
ZIP Area
7,924
Density / Sq Mi
$54,563
Median Household Income
$39,310
Median Earnings
$1,052
Median Rent
$303,400
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in New Bedford, MA
Properties on Market for Triplexes in New Bedford
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three residences span the building’s floors, each with a double parlor and a distinct bedroom layout.
Where is this triplex located?
The property is located at 96 Lombard St New Bedford, MA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Three units in a 2,762‑square‑foot building; First and second floors each have two bedrooms and a double parlor; Third floor includes one bedroom and a double parlor
