5 Unit Mixed Use Investment Property

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30664049
Property Subtypes: Mid-Rise
Status: Pending/Contingent
Number of Units: 5 Units
Building Size (RSF): 3,687 SF
Gross Building Area: 6,016 SF
Gross Land Area: 0.06 Acres
Sale Price: $1,175,000
Unit Price: $235,000 Per Unit
Property Use Type: Investment
Usable Size (USF): 3,687 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/11/2020

Overview / Comments

Fantastic 5 unit Mixed Use (Multi-Family/ Retail) investment property, with 4 apartments and one retail space presently fit up as a hair salon on a .06 acre lot. Current rents may be under market, and the landlord currently pays for heat, making this a possible Value Add opportunity. The property is serviced by oil-fired hot water heat, separate hot water heaters and electric meters for each unit, and city water.

According to public records, the structure has clapboard siding, asphalt shingles, and plastered walls. Recent capital improvements include a new roof (2011), windows (2015), furnace (2016), and electric service (2015-2019). The salon space was updated in 2014 including their own heat pump. Street and municipal parking are available. All current tenants are TAW.

All information was obtained from the owner, public records, and other sources deemed to be trustworthy. Prospective buyers are encouraged to perform all due diligence necessary to confirm measurements, zoning, suitability for the buyer's intended purpose, and all other aspects. 24-hour notice required, DO NOT approach any of the tenants.

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Essex
Tax ID/APN: 19/ 75
Zoning: R1
Property Condition: Good
Number of Stories: 3
Roof Type: Gable
Construction/Siding: Wood Frame
Parking Type: Other
Parking Description: Street or Municipal Parking
Sprinklers: None
Heat Type: Oil
Heat Source: Central
Fuel: Oil
Internet Access: Cable
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,776 25,096 52,931
Median Age: 46.93 46.23 44.6
Households: 3,814 10,961 22,087
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