Sold
9-11 Melbourne St, Boston, MA
Boston · MA 02124
- $1,935,000
- Price
- 22
- Beds
- 6
- Baths
- 8529
- Sq. ft.
Overview
Property type:
Multi-Family
Year built:
Built in 1900
Units:
6 Units
Lot size:
3,500 Sq.Ft Lot
Price per square foot:
$229 / Sq.Ft
Parking:
No Parking
About this home
RARE OPPORTUNITY FOR INVESTORS TO OWN A 6-UNIT BUILDING IN A PRIME LOCATION! Two 3 bedroom units on first floor and four 4 bedroom units on 2nd and 3rd floor all sunny with a living room and an eat-in kitchen with a dishwasher. The property has sprinklers throughout and an updated central fire alarm maintained by the private alarm company. The roof has been updated within the last 6 months and the basement is clean with laundry hookups. The building is next door to a well-maintained park with lots of green space and plenty of street parking. The return on investment is a no-brainer: At list price, it is a 7.13% cap rate with a 10.28% cash on cash return based on the current rent roll & expenses with 25% down and 75% financed at 4.5%. There is a huge and easy-to-achieve upside at this property by raising existing tenants' rents to be at the current subsidized rental rates. Those increases would see this property at list price come with a 17.45% cash on cash return and a cap rate of 8.9
Neighborhood & Transit
9-11 Melbourne St, Boston · MA 02124
Nearby transit
Within 0.5 mile, measured straight-line to the nearest station entrance.
-
Shawmut Red 0.13 mi
-
Ashmont MattapanRed 0.43 mi
Price Insight
- Days on Market:
- 1468 days
- Listing Price:
- $1,950,000
- Price per Sq.Ft:
- $229
- Tax Assessment:
- $1,239,000 in 2022
- Taxes:
- $1,134 / Monthly
Home Facts
Interior Features
- Bedrooms
- 22
- Full Bathrooms
- 6
- Half Bathrooms
- 0
- Living Area
- 8,529 Sq.Ft
- Kitchen
- Unknown
- Primary Bedroom
- Unknown
- Laundry
- Unknown
- Living levels
- Unknown
- Rooms
- Unknown
- Above grade area
- Unknown
- Flooring
- Unknown
- Lead paint
- None, Certified Treated
Utilities
- Heating Type
- Unknown
- Heating Zone
- Unknown
- Cooling
- Unknown
- Cooling Zones
- Unknown
- Water
- Unknown
- Sewer
- Unknown
- Electric Features
- Fuses, 200 Amps, Individually Metered
Exterior Features
- Lot Size
- 3,500 Sq.Ft
- Lot Description
- Unknown
- Exterior Features
- Unknown
Parking
- Garage Parking
- 0 Parking Spaces
- Off Street Parking
- None
Construction Details
- Construction Type
- Unknown
- Siding
- Vinyl, Brick
- Roof
- Unknown
Green Features
- Electric Vehicle Charger
- Unknown
- Solar Panels
- Unknown
- Green Certified
- Unknown
- Insulation Features
- Unknown
- Energy Features
- Unknown
Listing information
- Listing agent
- Sheila Traphagen
- Listing office
- Bridgestone Properties, LLC
- MLS PIN #
- 72981613
- Disclosure
- Lead Paint Certs Compliance Letter available for all 6 units : All group showings will be listed as open houses, buyers need to be registered in advance