322 Broadway Methuen, MA
$825,000
Beds 6
Baths 5.5
Square Feet 2,762
Acres 0.21
Description
Discover the potential of 322 Broadway, a well-located multi-family building featuring 5 units on the edge of Methuen's Historic Downtown. This prime property is just under a mile from tax-free Salem, NH, and minutes away from the vibrant Tuscan Village development. With a 7% Cap Rate and rental upside, this property presents a lucrative opportunity for investors. Current leases are below market rates, offering significant room for rental increases by upgrading unit interiors (1 unit will require TLC). Situated in a Qualified Opportunity Zone, this property is ideally positioned in a high-demand, supply-constrained residential market. Generous lot with ample space for potential future enhancements or expansions. This property offers an excellent opportunity to capitalize on a growing area with the potential to enhance value through strategic upgrades. Don’t miss out on this investment in a thriving community!
Listed by Tower Hill Ventures LLC, Jolmi Minaya
Details
MLS 73289422
Status Active Under Contract
Price $825,000
DOM 92 days
Type Multi-Family
Beds 6
Total Baths 5 full, 1 half baths
Square Feet 2,762 sqft
Garage Spaces 1
Lot Size 0.21 acres
Year Built 1860
Lot & Building Features
Appliances Range, Refrigerator, Range Hood
Construction Frame, Stone
Cooling Window Unit(s)
Heating Baseboard, Natural Gas
Sewer Public Sewer
Tax Year 2024
Taxes Paid $6,940
Water Public
Foundation Stone
Interior Features Ceiling Fan(s), Studio, Other, Living Room, Kitchen, Heated Attic, Crown Molding
Roof Shingle
Full Baths 5
Half Baths 1
Parking Off Street, Paved Drive, Paved
Total Rooms 14
Basement Feature Concrete, Walk-Out Access, Unfinished, Interior Entry, Full
Garage Spaces 1
Fireplaces 1
Map
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Financing
$
6.75%
$
$
$
per month
Principal & Interest
Monthly Taxes
Monthly HOA
Monthly Home Ins.
Monthly PMI
Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This calculator only provides an estimate.