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Methuen, MA 01844-3181
$399,000
MLS #72449346 - Multi-Family
List Date 2/5/19 # Units 4 Type 4 Family - 4 Units
Up/Down
GLA 2,657SF
Sale Date   Rooms 15 Lead Paint Unknown Garage Spaces 0
Sale Price   Bedrooms 5 Lot Size 13,503SF Parking Spaces 6
PRIME Methuen Location - 4 UNIT MULTI, AN ADDITIONAL SUBDIVIDEABLE LOT INCLUDED AND ~$32,222.00 of net income a year bringing a A CAP RATE OF 8.1% + ! It doesnt get much better than this.Many updates during sellers tenure, including newer windows,some cosmetic updates, woodwork and much more. 3 out of the 4 units are currently rented for a total of $2950 per month, with the 4th (nicely updated one) vacant with a projected rent of an additional $1000/month.The rented units are rented below market value (some cosmetic finishes on these could bring the CAP rate EVEN HIGHER).The additional subdivideable lot (0 Summit Ave) comes with the property- and is potentially buildable or can be a great outdoor space for the tenants. This is a GREAT OWNER OCCUPANT opportunity to live in the vacant unit for free while building equity - have someone else pay your mortgage and taxes- and still have $ left over to pocket.Great lot(s) and location close to 93, 213,The Loop, Salem, EVERYTHING. Wont last

Listing Office: RE/MAX Partners, Listing Agent: The Tabassi Team

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