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Key Details
Sold Price $500,000
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Up/Down
Listing Status Sold
Purchase Type For Sale
Square Footage 3,414 sqft
Price per Sqft $146
MLS Listing ID 73309769
Sold Date 12/13/24
Bedrooms 7
Full Baths 5
Year Built 1900
Annual Tax Amount $6,356
Tax Year 2024
Lot Size 4,356 Sqft
Acres 0.1
Property Description
This investment property is a turnkey, 5-unit building near downtown Fitchburg. It is comprised of four one-bedroom apartments and one three-bedroom apartments. This building has seen capital improvements and cost-saving measures, including aluminum siding, several upgraded windows to a vinyl replacement, some unit renovations, partial roof replacement, foundation pointing, and electric water heater replacement. Two apartments will be conveyed vacant for a buyer to establish their rental income. This property is a perfect investment for someone looking for a stable building that can produce a solid return with its low operating expenses, as all tenants pay for their heat and electricity. An estimated proforma shows the ability to gross $66,000 in 2024. With the proper rental income and additional building improvements, this property will surely turn a profit for any investor.
Location
State MA
County Worcester
Zoning DB
Direction Heading West on Main St. Take Rt on Blossom, 1st Lt on Crescent, 1st Rt on Mt Vernon. 2nd on Right.
Rooms
Basement Full, Walk-Out Access, Concrete
Interior
Interior Features Living Room, Kitchen
Heating Natural Gas, Electric
Flooring Wood, Vinyl, Carpet, Hardwood
Appliance Range, Refrigerator
Exterior
Exterior Feature Rain Gutters
Community Features Public Transportation, Shopping, Pool, Tennis Court(s), Park, Walk/Jog Trails, Golf, Medical Facility, Laundromat, Bike Path, Highway Access, House of Worship, Private School, Public School, University
Utilities Available for Gas Range
Roof Type Shingle,Slate
Total Parking Spaces 5
Garage No
Building
Story 9
Foundation Stone, Brick/Mortar
Sewer Public Sewer
Water Public
Others
Senior Community false
Acceptable Financing Contract
Listing Terms Contract
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Bought with Faiyaz Chatiwala • Berkshire Hathaway HomeServices Town and Country Real Estate
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Jim Armstrong
Team Leader/Broker Associate | License ID: 9074205
Team Leader/Broker Associate License ID: 9074205