31-33 Bourne Street, Lowell MA 01852
Lowell, MA 01852 • South Lowell
$887,500
Est. $5,327/month
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About this home
Well-maintained 3-unit multifamily offering in Lowell’s established South Lowell neighborhood, featuring three spacious 3BR/1BA apartments and approximately 3,900 SF of living area. Two of the three units will be delivered vacant and move-in ready at closing, offering immediate flexibility for an investor or owner-occupant to lease, occupy, or further improve. Recent capital improvements include a newer EPDM rubber roof (2022), refinished hardwood flooring, new luxury vinyl plank flooring, updated bathroom vanities, and newer appliances in the first- and second-floor units. Additional features include in-unit washer/dryer hookups, usable yard space, separately metered forced hot-air gas heating, and updated electrical service, helping minimize landlord-paid utility expenses. Additional value-add potential may exist to reconfigure existing 3BR layouts into 4BR units, subject to applicable approvals and permitting. Conveniently located near Downtown Lowell with quick access to the Lowell Connector, Route 3, I-495, LRTA service, MBTA commuter rail, shopping, dining, parks, and major employment and educational centers. A compelling opportunity combining immediate vacancy, recent improvements, efficient utilities, and long-term income-growth potential.
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Recently Sold Nearby
Property History
Property Timeline
Listed for Sale
Aug 19, 2026
$887,500
Original listing
Agent: Michael Alvarez
Office: Alvarez Real Estate Group LLC
| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 08/19/2026 | 🏠 Listed for Sale | $887,500 | - | - | Original listing |
Tax History
| Year | Taxes | Assessment |
|---|---|---|
| 2026 | $7,668 | $669,900 |
Financial Details
Annual Property Tax
$7,668
Tax Year 2026
Assessed Value
$669,900
Facts & Features
Home Facts
Type
Residential Income
Style
3 Family - 3 Units Up/Down
Year Built
1910
Living Area
3,900 sq ft
Lot Size
0.09 acres
Stories
3
Bedrooms
9
Full Baths
3
Total Rooms
18
Investment Metrics
Units
3
Unit 1 Rent
— · N
Unit 2 Rent
— · N
Unit 3 Rent
— · N
Gross Income
$87,300
Net Operating Income
$65,604
Operating Expenses
$21,696
Cap Rate
7.39%
Interior
Heating
Forced Air, Natural Gas
Cooling
None
Flooring
Hardwood
Appliances
Range, Microwave, Refrigerator
Fireplace
None
Basement
Full
Laundry
Washer & Dryer Hookup
Features
Living Room, Dining Room, Kitchen
Exterior
Construction
Frame
Architecture
None
Roof
Rubber
Features
Balcony/deck
Pool
None
Spa
None
Fencing
None
Patio/Porch
None
Parking
Features
None
Utilities
Electric
None
Water
Public
Sewer
Public Sewer
Gas
None
Other
None
Financial
Annual Tax
$7,668
Assessed Value
$669,900
HOA & Community
Fee Includes
None
Amenities
None
Optional Fee Includes
None
Down Payment Resource
Eligible
MA Disclosures
Lead Paint
Unknown
Seller Disclosures
None
Additional Details
Possession
None
Accepted Financing
Other (see Remarks)
Structure Type
[]
Sq Ft Source
Public Record
Documents
None
County
Middlesex
Total market time (incl. prior listings)
1 days
Property Overview
Property Type
3 Family - 3 Units Up/Down
Listing Type
For Sale
Year Built
1910
Bedrooms
9
Full Bathrooms
3
Living Area
3,900 sq ft
Total Rooms
18
Stories
3
Levels
3
Floor Layout
Interactive room guide
Floor Layout
Finished Area
3,900 sq ft above grade
Display Options
Room Markers
BABathroom (4)
BRBedroom (5)
DDining (1)
KKitchen (1)
LLiving (2)
OOffice (1)
Conceptual diagram based on MLS room data. It is not to scale and is not a substitute for architectural plans or on-site measurements.
Interior Features
Flooring:
Hardwood
Appliances:
Range, Microwave, Refrigerator
Interior Features:
Living Room, Dining Room, Kitchen
Windows:
Basement:
Full
Laundry:
Washer & Dryer Hookup
Security:
Construction & Materials
Year Built:
1910
Structure Type:
Exterior Materials:
Frame
Roof:
Rubber
Foundation:
Stone
Stories:
3
Heating, Cooling & Utilities
Heating:
Forced Air, Natural Gas
Cooling:
Hot Water:
Water Source:
Public
Sewer:
Public Sewer
Energy Features:
Exterior & Lot
Exterior Features:
Balcony/Deck
Patio & Porch:
Fencing:
Other Structures:
Lot Features:
Other
Road Surface:
Parking & Garage
Parking Features:
Nearby Schools
School District
Lowell School District local
C-
School Safety
2024-25
3.0%
Above Average
2.8%
Suspensions
0.8%
In-School
0.2%
Emergency
2.5% below state avg
Elementary Schools
3 schools
Cardinal O'Connell Early Learning Center
0.2 mi
121 students
Very Diverse
Diverse Student Body
Grades PK
C+
John J Shaughnessy School
0.4 mi
|
#575 of 824
|
Score: 42.1
Improved 96 spots from last year
-16.1 below state avg
485 students
Diverse
Rising School
Diverse Student Body
Grades PK-04
C+
Moody Elementary School
0.6 mi
|
#504 of 824
|
Score: 44.6
Improved 85 spots from last year
-13.6 below state avg
248 students
Diverse
Rising School
Grades PK-04
Middle Schools
3 schools
C-
Benjamin F. Butler Middle School
0.3 mi
|
#303 of 352
|
Score: 31.0
Dropped 47 spots from last year
-27.2 below state avg
516 students
Very Diverse
Diverse Student Body
Grades 05-08
Laura Lee Therapeutic Day School
1.1 mi
15 students
Diverse
Diverse Student Body
Grades 01-08
C
James Sullivan Middle School
1.4 mi
|
#267 of 352
|
Score: 34.8
Improved 38 spots from last year
-23.5 below state avg
625 students
Diverse
Rising School
Diverse Student Body
Grades 05-08
High Schools
3 schools
D
Leblanc Therapeutic Day School
1.0 mi
|
#376 of 346
|
Score: 32.8
Same rank as last year
36 students
Diverse
Diverse Student Body
Grades 09-12
F
The Career Academy
1.1 mi
|
#25 of 25
|
Score: 14.1
Improved 363 spots from last year
-44.1 below state avg
83 students
Diverse
Rising School
Diverse Student Body
Grades 09-12
F
Lowell Middlesex Academy Charter School
1.2 mi
|
#339 of 346
|
Score: 21.1
Improved 7 spots from last year
-37.1 below state avg
126 students
Diverse
College Ready Curriculum
Diverse Student Body
Grades 09-12
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Including down payment
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Down: $0
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Monthly Payment Breakdown
Principal & Interest
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Property Tax
$639
Homeowners Insurance
$200
PMI (if <20% down)
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Loan Summary
Total of 360 payments
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Rate Impact
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Payment Over Time
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
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Location
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Neighborhood
South Lowell
31-33 Bourne Street, Lowell MA 01852
Lowell, MA 01852
Listing Information
Listing Agent
Michael Alvarez
Listing Office
Alvarez Real Estate Group LLC
Office Phone
617-329-9493
Agent MLS ID
CN250534
Office MLS ID
AN7528
Listing Data Updated
Aug 20, 2026 3:30 AM EDT
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.
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