The Reonomy platform enables you to search multi family properties of any size, in any MA market. Find multi family properties in pre-foreclosure, or those located in Opportunity Zones, and get in touch with owners directly.
As a new decade begins, Boston commercial real estate is still seeing record growth. Greater Boston is still one of the best markets for CRE in the nation.
The hospitals, universities, life sciences, and tech industries have made Massachusetts an area of global interest for real estate investors. Multifamily homes for sale in MA continue to be a hot commodity, with no end in sight.
How to Find Multi Family Homes for Sale in MA
Investors of all scales, from first-time investors to established pension funds and life insurance companies, are in competition to purchase multifamily homes in the greater Boston area.
All are constantly on the lookout for potential buys.
So, what’s the best strategy? Investors and real estate brokers have a number of tools at their disposal.
They can search commercial and residential real estate listings, search for off-market deals, or they can team up with a local broker who can uncover hidden opportunities for them.
Commercial and Residential Real Estate Listings
Traditional commercial and residential real estate listing platforms are a great way for investors to find multifamily homes for sale in MA.
But be forewarned: multifamily properties that are actively listed on MLS get syndicated to multiple websites. Therefore, investors often face bidding wars for these listed properties.
Here are a few of the best websites to find actively listed multi family homes for sale in MA:
LoopNet is one of the largest commercial real estate listing platforms in the country.
It offers over 6.3 billion square feet of commercial real estate for sale or lease, including multi family properties for sale in Massachusetts.
LoopNet tends to provide more sophisticated property details, such as cap rates, which are useful for investors and brokers in search of multi family opportunities.
CREXi is another national commercial real estate marketplace that provides deals across asset classes, including properties for sale throughout Massachusetts.
CREXi provides a suite of services that help buyers, sellers, and brokers navigate the entire transaction process, from listing through to closing.
CBRE is responsible for some of the largest multi family sales in Greater Boston.
Their New England headquarters is located in Boston, but CBRE has multi family teams in satellite offices throughout the region, from Hartford, CT to Manchester, NH and beyond.
Aside from being a commercial and multifamily real estate listing platform, CBRE provides in-depth market research and insights for those looking to delve into the local multi family market.
CJ Barrett is a locally owned and operated company that provides commercial and residential real estate listings for brokers interested in finding multi family deals.
Those looking to purchase multifamily homes for sale in MA can work directly with a local expert who knows the market.
CJ Barrett’s listings are concentrated in the region just north of Boston, including towns like Medford, Wakefield, Everett and Lynn.
Most people think of Zillow as a website used to find single-family homes and rental properties, but it can also be used to find multi family homes for sale in MA or anywhere else in the U.S.
Multi family homes on Zillow tend to be concentrated in the two, three, and four-family market segment.
These smaller multifamily properties are a popular investment for those new to commercial real estate.
Zillow is also a great tool for investors looking to discover potential listings, as it monitors recent filings (like liens) recorded with the Registry of Deeds that may indicate an owner is motivated to sell.
Realtor.com is another platform used by local investors and brokers to identify multi family homes for sale in MA as soon as they come to market.
This platform, like its competitors Zillow and Redfin, feature properties that are listed on the MLS.
Like Zillow and Redfin, Realtor.com’s listings tend to be smaller multifamily properties with four or fewer units.
Occasionally, Realtor.com features larger multi-family buildings and mixed-use commercial properties (e.g., retail with residential above).
Redfin is a local favorite given the company’s presence in Massachusetts.
This platform features residential real estate listings, and unlike other websites, presents material in a clear, concise manner.
Refin includes details about current rents – a detail that other platforms sometimes obfuscate, making it harder for potential investors and brokers to run the numbers on deals.
Redfin offers a clean, intuitive user experience.
For Sale by Owner Listings
For Sale by Owner listings, otherwise referred to as “FSBO”, are harder for brokers and investors to track down. There are a few ways people can search for FSBO multi family homes for sale in MA.
When trying to gauge whether or not to sell, many people will start by listing their multi family home for sale on Craigslist. The platform is free and easy to use, so owners face no risk by posting here initially.
Craigslist is also a national platform, searchable by geography, which can open doors to buyers located in other parts of the state or country. The site has specific pages for Boston and Worcester, MA, among others.
The Oodle marketplace is still gaining traction.
It’s another place to begin searching for multifamily properties for sale, often listed by owner instead of through the more traditional MLS platform.
Something to note, however, is that the listings “by owner” featured on Oodle tend to be multi family properties that are bank owned.
Nextdoor is a national platform that features hyper-local real estate listings.
In order to subscribe to Nextdoor, the user must confirm (through a postcard sent to a mailing address or otherwise) that they live in or near a specific neighborhood.
Once approved, they can start connecting with their literal neighbors. Owners with multi family homes for sale in MA can use Nextdoor to sell to investors in their own backyards.
Local real estate brokers will often advertise multi family listings for sale through Nextdoor as well.
Search Multi Family Homes Off-Market with Reonomy
Aside from searching through listings online, you can also gain access to the entire supply of multi family properties in MA, and in fact, the entire nation.
With the Reonomy platform, you don’t have to wait until a property is listed. You can identify multi family homes likely to sell, and reach out directly to the owner, to either help them sell, or simply buy the asset.
Buying property off-market can save you thousands, and give you a better chance of of acquiring a property. When you don’t have to compete with other potential buyers, you’re more likely to purchase real estate at a better price.
Off-market deal-making is a great way for investors and brokers to get ahead of the competition, strike more favorable deals (for themselves and owners), and, in the case of investors, avoid the middlemen and extra fees that come with working with listings platforms and other services.
Try it for free, or read on to see a specific example of how to run a multi family property search in Massachusetts.
Examples of MA Multi Family Searches
With so many commercial and residential platforms flooding the marketplace, it can be hard to decipher which to use and how to go about using them. Here are a few ways to search different platforms using real-time examples.
Boston, MA Multi Family Search with LoopNet
A quick search for multi family homes for sale in Boston, MA on LoopNet reveals just a few properties for sale.
At first glance, this comes as a major surprise. After all, there are hundreds (if not thousands) of multi family properties for sale in Boston, MA at any given point in time.
That’s because so much of Boston’s housing stock is made up of two and three-family homes (known locally as triple deckers).
This is why it’s a good reminder to search multiple platforms. LoopNet is typically used for commercial properties, so smaller multi family homes for sale in Boston, MA are not featured on LoopNet the same way they’d be featured on a platform like Zillow or Redfin.
Worcester, MA Search with Redfin
Those looking to buy multi family homes for sale in Worcester, MA may want to begin their search with Redfin.
Go Refin’s website and start by searching “Worcester, MA” and narrow down the property type so the results show only multi family homes for sale.
You can further refine your search, identifying properties that are hosting open houses this weekend, for example. Or search for properties that have had prices recently reduced.
Redfin also allows you to search recent sales, which is helpful for investors eyeing multi family homes for sale in Worcester, MA as this provides a glimpse into real-time comps for prospective buyers.
For example, in the screenshot above, all of the blue tabs are multi family properties in Worcester, MA that have sold within the past three months.
This information can help you estimate potential property values and financially prepare for your investment.
Methuen, MA Search with Reonomy
When searching for multi family homes in MA on Reonomy, you can start by entering a location. Search by state, city, county, MSA, zip code, neighborhood, street name, or simply plug in an exact address.
Here, we are entering Methuen into the search bar to get off-market listings in this area.
To search the Methuen, MA area of Massachusetts, first enter the city name:
Then, choose if you’d like to see all multi family assets, or just a sub-category of multi family listings:
To find properties likely to sell, you can search specifically for multi family homes that have not been sold in the last five years, ten years, or any custom time slot you prefer.
You can continue adding filters from there based on your needs, such as whether or not the property is in pre-foreclosure, or whether or not it is located in an Opportunity Zone.
Alls that’s left to do is to visit the research cards of the properties you’re interested in, get the contact information of the owner, and reach out with an informed pitch before anyone else does.
Lynn, MA Search with CJ Barrett
Those in Boston and the surrounding areas can search through local real estate broker CJ Barrett’s website.
In order to search this platform, start by plugging in the geography (Lynn) and type of property (multifamily). You’ll see the results are filtered showing those priced highest first.
If you identify a property that meets your needs, click on that listing.
You’ll see more detailed information, including a property description and property details such as acreage, building square feet and zoning.
In the example above, the eight-unit building includes 18 bedrooms and eight bathrooms. A quick analysis tells us that’s roughly $90,000 per unit.
The listing description also includes pertinent details such as income collected from the coin-operated laundry and resulting cap rate.
Revere, MA Search with CREXi
CREXi is a lot like LoopNet in that it features mostly commercial properties.
A CREXi search for multi family homes for sale in Revere, MA shows few options compared to more traditional residential listing platforms like Realtor.com.
That said, a CREXi search for multifamily homes for sale in Revere can still be helpful.
The information on their website is presented with an eye toward attracting more sophisticated real estate investors and brokers.
For example, this multi family home for sale in Revere, MA is presented with all of the information investors care about most right up front: number of units, square footage, price per unit, cap rate, net operating income and more.
The listing agent provided all this information in the description, making it easy for potential buyers to navigate deals based on financial information rather than geographic or building information.
Whatever the case may be, no matter where you are in Massachusetts, there are plenty of options for you to rely on when looking for multi family investments—none of which require you to leave the comfort of your office.