$995,000

About this home

RENT INCREASES JULY 1ST !!! ($4,440 annually) Well-maintained 6-unit multi-family in an excellent location near EastWorks and Downtown, offering strong upside potential. The property features a low-maintenance exterior and interior, is clean and well cared for, with a new roof membrane (Aug 2020) and a newly renovated back staircase/fire escape (Apr 2026).Long-term tenants with no leases provide flexibility for rent increases. Unit 3R, the 6th unit, is a 2-bedroom, 1-bath with kitchen and living room, gas heat, and a new refrigerator (Apr 2026), currently rented at $1,110/month. Tenants own washers/dryers; all other appliances are landlord-owned.Current cap rate is 5.9% (increased .4%), with rents below market ($1,600–$1,729). Pro forma cap rate reaches 8.5% at $1,600/month. Fire Department requires buyer to install a Fire Notification Panel. This is a solid investment opportunity with stable occupancy, minimal upkeep, and significant income growth potential in a highly desirable area.

Property details

MLS #

73504629

Property type

Home

Year built

1910

Interior

5,832 ft2

Status

Active

Listed by

Boston Realty

Listed 3 days ago

Facts & features

Location