Andover Residential - Properties

16 photo(s)

Under Agreement List Price $399,000 MLS # 72449346 - Multi-Family

# 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