$1,525,000
23 Poplar Street
Details
Property Type Multifamily
Square Footage 3,653
Units 5
Cap Rate 5.25%
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 5.25%
Pro-Forma NOI $80,076
Class B
Year Built 1900
Buildings 1
Acreage 0.180
Zoning R1
Parking Spaces 2 per unit
Investment Type Value Add
Sale Condition N/A
100% leased | parking for every unit | coin op laundry
Marketing description
5-unit multifamily situated on a corner lot with approximately 3,653 square feet of living area, consisting of two 2BD/1BA and three 1BD/1BA units, generating approximately $119,000 in annual gross income. The property offers desirable tenant amenities including ample off-street parking with two spaces per unit and coin operated laundry facilities. Several units feature updated kitchens, renovated baths, refreshed flooring, and spacious layouts, while the building retains much of its original character and charm. Two units have the added benefit of private exterior entrances. Located near downtown Danvers, shopping, restaurants, parks, commuter routes, and public transportation.
Investment highlights
- Ample off-street parking with two spaces per unit
- Coin operated in-building laundry
- Updated kitchens and renovated bathrooms
- Two units with private exterior entrances
- Corner lot in a popular and accessible location
Listing Contacts
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Zoning
R1 ResidentialTwo FamilyResidential 1
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