Address
28 Melrose St, Lawrence, MA
Price
$ 850,000
Property Attributes
  • MLS#73185194
  • TypeMulti-Family
  • CountyESSEX
  • CityLawrence
  • Zip01841
  • Style3 Family - 3 Units Up/Down
  • Year Built1900
  • Taxes$ 5296
  • Price$ 850,000
  • Bedrooms8
  • Full Bathrooms3
  • Half Bathrooms0
  • Sqr Footage2976
  • Lot Size2,178 SqFt
Data Source:
Massachusetts MLS Property Info Network (MLSPIN)
Property Description

This investment property at 28 Melrose St. presents an exceptional opportunity for those seeking a lucrative venture. With 3 units and a potential for higher rents, this property offers a solid foundation for consistent returns on investment. Boasting an 8 bed, 4 bath Flat style multifamily, each unit is designed for functionality. With the additional 7+ parking lot, that rents $100 per month per space (3 spaces rented currently) This property is Strategically located in Lawrence, MA, a vibrant area known for its rental demand, Investors or homeowners will appreciate the proximity to Schools, Local Markets and the Highways that contribute to what makes 28 Melrose Street, the property you have been waiting to hit the market, don't miss our open house!

Price History
12/5/2023 Listed $799,900

General Features

Interior Features Unit 1 Rooms(Living Room,Kitchen),Unit 2 Rooms(Living Room,Kitchen),Unit 3 Rooms(Living Room,Kitchen)
Sewer Public Sewer
Heating Unit 1(Gas),Unit 2(Gas),Unit 3(Gas)
Cooling Unit 1(Window AC),Unit 3(Window AC)
Zoning R2
Exclusions Tenant's Belongings
Year Built 1900
Electric 100 Amp Service
Property SubType 3 Family - 3 Units Up/Down
Tax Year 2023
Gross Income 57600
County Essex
Net Operating Income 57600
Property Type Residential Income
Garage Y/N No
Rent Includes Unit 1(None),Unit 3(Gas,None)
Total Rooms 14
Status Active
Directions Use GPS
City Lawrence
Buyer Agent Compensation 2
Disclosures All units are deleaded,and the property has an elevation certificate. Rents are under-market,The parking lot has 2 rented spaces for $100 each per month,The tenants are all at will but would like to
Senior Community Y/N No
Total Units 3
Lot Size Square Feet 2100
Waterfront Y/N No
Street Name Melrose St
Year Built Details Actual
Tax Annual Amount 5296
Home Warranty Y/N No
Building Area Units Square Feet
Standard Status Active
Year Built Source Public Records
Tax Assessed Value 521300
Total Actual Rent 4800
Compensation Based On Gross/Full Sale Price
Sub-Agency Relationship Offered No

Interior Features

Basement Finished
Total Stories 3
Air Conditioning Y/N Yes
Heating Y/N Yes
Fireplace Y/N No
Full Baths 3
Total Bedrooms 8
Total Baths 3

Exterior Features

Parking Features Paved Drive
Water Source Public
Total Parking 9
Lot Size Area 0.05
Foundation Details Stone
Spa No
Building Area Total 2976
Lot Size Acres 0.05
Lot Size Units Acres
Open Parking Y/N Yes

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 01841

Price
AVG $840K
$850K
Taxes
AVG $5,994
$5,296
Visits
AVG 90
258
Data Provided by Inside Real Estate®
Year Built
AVG 1901
1900

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