Prime 5-Unit Investment in Downtown Peabody, MA

Multi-Family for Sale
Catylist Listing ID: 30873008
Property Subtypes: Mid-Rise
Number of Units: 5 Units
Building Size (RSF): 2,516 SF
Gross Land Area: 0.10 Acres
Sale Price: $1,250,000
Unit Price: $250,000 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/22/2024

Overview / Comments

Presenting an exceptional investment opportunity in the heart of downtown Peabody: a fully occupied building featuring five one-bedroom apartments, each equipped with its own dedicated parking space. This prime location offers unparalleled convenience, with tenants benefiting from close proximity to bus lines, major commuter routes, and the train station, ensuring easy and efficient travel options. The rental package includes heat and hot water, streamlining the billing process and significantly boosting tenant satisfaction.

This well-maintained property is poised to provide a steady income stream and long term appreciation potential for discerning investors. Seller Financing to be considered for qualified buyers. 

Financials

Finance Data Year 2024
Real Estate Taxes - Annual($) $2,024 (Annual)

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Essex
Tax ID/APN: 085-138
Zoning: BC
Percent Occupied: 100%
Property Condition: Average
Number of Stories: 2
Year Built: 1900
Year Renovated: 2005
Parking Ratio: 5 (per 1000 SF)
Parking Type: Surface
Parking Description: 1 parking per each unit
Total Parking Spaces: 5
Heat Type: Electricity, Natural Gas
Fuel: Gas
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 26,989 134,636 298,879
Median Age: 39.64 41.47 40.54
Households: 11,417 57,210 119,213
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