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16 photo(s)
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Methuen, MA 01844-3181
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Under Agreement
List Price
$399,000
MLS #
72449346
- Multi-Family
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# Units |
4 |
Rooms |
15 |
Type |
4 Family - 4 Units Up/Down |
Garage Spaces |
0 |
GLA |
2,657SF |
Heat Units |
0 |
Bedrooms |
5 |
Lead Paint |
Unknown |
Parking Spaces |
6 |
Lot Size |
13,503SF |
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
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Showing 1 listings
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