$2,360,000
$2,600,000
9.2%For more information regarding the value of a property, please contact us for a free consultation.
11 Beds
11 Baths
4,368 SqFt
SOLD DATE : 08/20/2024
Key Details
Sold Price $2,360,000
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Side by Side
Listing Status Sold
Purchase Type For Sale
Square Footage 4,368 sqft
Price per Sqft $540
MLS Listing ID 73203858
Sold Date 08/20/24
Bedrooms 11
Full Baths 11
Year Built 1800
Annual Tax Amount $12,438
Tax Year 24
Lot Size 2,613 Sqft
Acres 0.06
Property Description
The Property contains eleven (11) residential units comprised of two (2), 1-Bedroom/1-Bathroom units, six (6) Studio units, and three (3), 2-Room Studio units. The Property has recently undergone extensive renovations to 10 of the 11 units. The renovated units feature hardwood flooring, granite countertops, white shaker cabinets, and stainless-steel appliances in the kitchens. The bathrooms feature tile flooring and walk-in showers. The property also features new coin-operated laundry machines for the tenants to use. The Landlord is responsible for electricity, heat, hot water, and domestic water and sewer. The Property has a central oil-fired furnace that provides heat and hot water for the units. The opportunity exists to increase rents to market rates in a desirable high demand and supply constrained residential market significantly increasing the income generating potential of the asset.
Location
State MA
County Essex
Zoning R2
Direction Please use GPS
Interior
Appliance Washer, Dryer
Exterior
Community Features Public Transportation, Shopping, Pool, Park, Walk/Jog Trails, Medical Facility, Laundromat, Bike Path, House of Worship, Marina, Private School, Public School, T-Station, University
Waterfront false
Waterfront Description Beach Front,3/10 to 1/2 Mile To Beach
Roof Type Shingle,Rubber
Total Parking Spaces 1
Garage No
Building
Lot Description Level
Story 3
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Others
Senior Community false
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Bought with Jordan Ryan • Keller Williams Realty Evolution
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Real Estate Agent | Lic# 9532671