Off Market
185 Franklin St, Melrose, MA
Melrose · MA 02176
- $1,800,000
- Price
- 6
- Beds
- 4
- Baths
- 3730
- Sq. ft.
Overview
Property type:
Multi-Family
Year built:
Built in 1900
Units:
4 Units
Lot size:
6,686 Sq.Ft Lot
Price per square foot:
$483 / Sq.Ft
Parking:
8 Off Street Spaces
About this home
Newly remodeled rare 4-unit in an A+ location in the heart of Melrose's Franklin Square, Steps to the commuter rail and Melrose's finest restaurants. Whole Foods, Liberty Bell and CVS are also around the corner. High ceilings give these units a more spacious feel than the square footage yields. Newly refinished hardwood floors, refreshed baths and new A/C mini splits in each unit make this property turnkey for top market rent. Four storage rooms and new laundry facilities in the basement. Low vacancy rate with maximum walkability and access to public transportation in a vibrant community. Units also being marketed as condos for sale. All condo docs will transfer with sale if bought as a 4fam. Parking spots deeded to each unit. MEDIAN rent for 1BRs in area is $1773/mo, 3BR is $2800/mo. Given the condition and location, $2000/mo. for the 1BRs and $3100/mo. for the 3BR (includes heat) would be conservative amounts for rent = $109,000/yr. which makes this approximately a 5% cap rate.
Neighborhood & Transit
185 Franklin St, Melrose · MA 02176
Nearby transit
Within 0.5 mile, measured straight-line to the nearest station entrance.
-
Melrose Highlands Commuter Rail 1 route 0.24 mi
- Haverhill Line
Price Insight
- Days on Market:
- 1377 days
- Listing Price:
- $1,800,000
- Price per Sq.Ft:
- $483
- Tax Assessment:
- $952,100 in 2022
- Taxes:
- $839 / Monthly
Home Facts
Interior Features
- Bedrooms
- 6
- Full Bathrooms
- 4
- Half Bathrooms
- 0
- Living Area
- 3,730 Sq.Ft
- Broker Disclosure about Living Area
- Owner has never lived in property
- Kitchen
- Unknown
- Primary Bedroom
- Unknown
- Laundry
- Unknown
- Living levels
- Unknown
- Rooms
- Unknown
- Above grade area
- 3730
- 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
- 6,686 Sq.Ft
- Lot Description
- Unknown
- Exterior Features
- Unknown
Parking
- Garage Parking
- 0 Parking Spaces
- Off Street Parking
- 8 Parking Spaces
Construction Details
- Construction Type
- Unknown
- Siding
- Wood
- Roof
- Unknown
Green Features
- Electric Vehicle Charger
- Unknown
- Solar Panels
- Unknown
- Green Certified
- Unknown
- Insulation Features
- Unknown
- Energy Features
- Unknown
Listing information
- Listing agent
- The Bill Butler Group
- Listing office
- Leading Edge Real Estate
- MLS PIN #
- 73073837
- Disclosure
- Roof 10-15 years old. See attached for rent report.
- Disclosure
- Owner has never lived in property