Sold
81 Spencer St, Boston, MA
Boston · MA 02124
- $649,900
- Price
- 5
- Beds
- 3
- Baths
- 2317
- Sq. ft.
Overview
Property type:
Multi-Family
Year built:
Built in 1905
Units:
3 Units
Lot size:
2,296 Sq.Ft Lot
Price per square foot:
$280 / Sq.Ft
Parking:
No Parking
About this home
THIS PROFESSIONALLY MANAGED AND VERY WELL MAINTAINED ATTACHED 3 FAMILY IS THE PERFECT OPPORTUNITY FOR THE SAVVY REAL ESTATE INVESTOR LOOKING TO INCREASE THEIR RETURN WITHOUT THE NORMAL & EXPENSIVE CAPITAL IMPROVEMENTS THAT USUALLY REQUIRES. ALL 3 UNITS ARE RENTED TO SUBSIDIZED TENANTS WITH #1 A 3 ROOM, 1 BED, 1 BATH AND #'S 2&3 BOTH 4 ROOM, 2 BED, 1 BATH UNITS. THIS PROPERTY IS BEING OFFERED AT A 6.5% CAP RATE AS IT CURRENTLY GENERATES MONTHLY INCOME OF $4,616.00 PER MONTH AND AVERAGES EXPENSES THE EQUIVALENT OF 25% PER MONTH OF THE GROSS RENTAL INCOME. HOWEVER, THE RECENT INCREASE IN RENTAL AMOUNTS FOR SUBSIDIZED TENANTS FOR 2019 PROVIDES FOR THIS BUILDING TO SEE A POTENTIAL TOTAL INCOME INCREASE OF $1,139.00 PER MONTH WITHOUT ANY WORK OR IMPROVEMENTS REQUIRED. THIS WOULD TAKE A BUILDING PURCHASED AT A 6.5% CAP RATE AND ELEVATE IT TO A BUILDING WORTH JUST UNDER EIGHT HUNDRED THOUSAND DOLLARS AT THAT SAME 6.5% CAP RATE SIMPLY THROUGH THE RENTAL INCREASE PROCESS!
Neighborhood & Transit
Dorchester
81 Spencer St, Boston · MA 02124
Nearby transit
Within 0.5 mile, measured straight-line to the nearest station entrance.
-
Talbot Avenue Commuter Rail 3 routes 0.16 mi
- Fairmount Line
- Franklin/Foxboro Line
- Providence/Stoughton Line
Price Insight
- Days on Market:
- 2492 days
- Listing Price:
- $649,900
- Price per Sq.Ft:
- $280
- Tax Assessment:
- $496,400 in 2019
- Taxes:
- $436 / Monthly
Home Facts
Interior Features
- Bedrooms
- 5
- Full Bathrooms
- 3
- Half Bathrooms
- 0
- Living Area
- 2,317 Sq.Ft
- Kitchen
- Unknown
- Primary Bedroom
- Unknown
- Laundry
- Unknown
- Living levels
- Unknown
- Rooms
- Unknown
- Above grade area
- Unknown
- Flooring
- Unknown
- Lead paint
- Unknown
Utilities
- Heating Type
- Unknown
- Heating Zone
- Unknown
- Cooling
- Unknown
- Cooling Zones
- Unknown
- Water
- Unknown
- Sewer
- Unknown
- Electric Features
- Unknown
Exterior Features
- Lot Size
- 2,296 Sq.Ft
- Lot Description
- Unknown
- Exterior Features
- Unknown
Parking
- Garage Parking
- 0 Parking Spaces
- Off Street Parking
- None
Construction Details
- Construction Type
- Unknown
- Siding
- Unknown
- Roof
- Unknown
Green Features
- Electric Vehicle Charger
- Unknown
- Solar Panels
- Unknown
- Green Certified
- Unknown
- Insulation Features
- Unknown
- Energy Features
- Unknown
Listing information
- Listing agent
- Benjamin Virga
- Listing office
- Bridgestone Properties, LLC
- MLS PIN #
- 72557524
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