Single Family    Condo    Multi-Family    Land    Commercial/Industrial    Rental    All
Show Open Houses Only
View Listings In
Under Agreement
Methuen, MA 01844-3181
MLS #72449346 - Multi-Family
List Date 2/5/19 # Units 4 Type 4 Family - 4 Units
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

Courtesy MLS PIN
Property Thumbnail Image
16 photos

Showing 1 listings

Information deemed reliable but not guaranteed.

The information in these listings was gathered from third party resources including the seller and public records. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.