Listed by NorthEast Private Client Group Newton
$2,000,000
Main Street Multifamily
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 7,529
Units 10
Cap Rate 7.50%
NOI $150,002
Tenancy Multi
Pro-Forma Cap Rate 9.05%
Pro-Forma NOI $181,071
Year Built 1870
Year Renovated 2023
Acreage 0.770
Zoning INS
Investment Type Value Add
Multifamily | 7.50% CAP | 10 Units
Marketing description
Northeast Private Client Group is pleased to present The Main Street Multifamily.
This impressive property boasts a 7,529 SF building containing 9 multi-family units and an additional 3,234 SF commercial space. The property features a strong tenant base and on-site management for easy transition of ownership. Built in 1870 and meticulously renovated in 2023, the property exudes historic charm while offering modern amenities. Zoned INS, it provides ample potential for various future development and expansion opportunities, ensuring future growth for investors. The carriage in the rear has approvals from the town to be used as commercial space or converted to four additional units.
Investment highlights
- 10-Unit Multifamily Property | Value-add Opportunity
- (1) Commercial, (1) Studio, (7) One Bed & (1) Two Bed Unit
- Tenant Paid Electric | On-site Laundry | Off-street Parking
- Potential Development for 4 to 5 Additional Units in Carriage House
Listing Contacts
Listed by NorthEast Private Client Group Newton
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$150,002.00
$12,500.17/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
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