$3,575,000
$3,750,000
4.7%For more information regarding the value of a property, please contact us for a free consultation.
32 Beds
16 Baths
13,664 SqFt
SOLD DATE : 05/30/2024
Key Details
Sold Price $3,575,000
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Side by Side
Listing Status Sold
Purchase Type For Sale
Square Footage 13,664 sqft
Price per Sqft $261
MLS Listing ID 73203934
Sold Date 05/30/24
Bedrooms 32
Full Baths 16
Year Built 1969
Annual Tax Amount $29,793
Tax Year 24
Lot Size 0.800 Acres
Acres 0.8
Property Description
131 Chestnut Street consists of two adjacent buildings with (16) 2-Bed/1-Bath units. Majority of the units have been renovated with new kitchens featuring quartz or granite countertops and stainless-steel appliances. The units also have new floors (hardwood, vinyl plank and carpet), updated bathrooms and in-wall AC units. Additionally, the Property features a laundry facility in each building, on-site storage lockers for tenants, and approximately 40 parking spaces. Building "A" was re-built within the past 10 years. The Property is separately metered for electric heat (baseboard) and hot water, which the tenants pay directly. The Landlord is responsible for common area electric and domestic water and sewer. The majority of the tenants are "Tenant at Will" and pay below market rents, providing the opportunity to increase rents to market rates immediately. The subject property is ideal for a potential buyer looking for income growth and strong investment returns with significant upside
Location
State MA
County Bristol
Zoning C30
Direction Off Route 1
Interior
Heating Electric
Appliance Washer, Dryer
Exterior
Community Features Public Transportation, Shopping, Park, Walk/Jog Trails, Bike Path, Highway Access, Private School, Public School
Waterfront false
Roof Type Shingle
Total Parking Spaces 40
Garage No
Building
Story 2
Foundation Block
Sewer Public Sewer
Water Public
Others
Senior Community false
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Bought with John Pentore • Horvath & Tremblay
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