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Key Details
Sold Price $1,225,000
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Up/Down
Listing Status Sold
Purchase Type For Sale
Square Footage 3,620 sqft
Price per Sqft $338
MLS Listing ID 73278091
Sold Date 10/11/24
Bedrooms 6
Full Baths 4
Half Baths 2
Year Built 1849
Annual Tax Amount $9,563
Tax Year 2024
Lot Size 6,969 Sqft
Acres 0.16
Property Description
The Property contains a total of 5 units, consisting of 2 commercial units, one (1), 1-Bedroom/1 Bathroom unit, one (1), 2-Bedroom/1-Bathroom unit, and one (1) 3+Bedroom/2-Bathroom unit. The commercial units are leased to Simplicity Salon and CYR Construction, both of which have 3+ years remaining on their leases with scheduled annual rent increases. All the units have been updated and feature separately metered utilities. The Property is located in a residential urban infill area, with nearby amenities including local restaurants and retailers along Water Street and High Street and in the restored East and West Mill complexes. The property has a current cap rate of 7.51%.
Location
State MA
County Essex
Zoning R4
Direction Please use GPS
Exterior
Waterfront false
Total Parking Spaces 6
Garage No
Building
Lot Description Corner Lot
Story 7
Foundation Other
Sewer Public Sewer
Water Public
Others
Senior Community false
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Bought with Spencer Norton • Horvath & Tremblay