Sold!
$530,000
7
Beds
3
Baths
2,572
Living Area
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Property Description
Hands-free investment package with annual projecting gross rents of $60,000. These two condo units were converted in 2005 with hardwood floor through out. Both units have lead-paint certificates; Each unit has one deeded off-street parking. Unit 10 is just vacant and ready to rent. Unit 11 is super large(1,745 SF), the public record show it has 4 bedrooms, but it has five bedrooms with 2 full baths. Current tenant will move out before closing w/ $3200 rent. Total condo fees for both units is $738.93 per month(U10: $249.01, U11: $489.92). Both units are on the top-floor and next to each other. Owning these two units is like having two-family rental benefits without two-family maintenance troubles and expenses(condo fees pay for exteriors, water/sewer, snow & trash removal and master insurance, etc). With this high rental demand, this ~9% cap rate investment is a great way to hedge and preserve our hard earn savings. Don't forget to see the Lowell Housing Fair market rent rates.
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Highlights
- Area: Highlands
- Has View: Yes
- Parking Spots: 2
- Property Type: 2 Family - 2 Units Up/Down
- Year Built: 1895
- Cooling: Window Unit(s)
- Heating: Baseboard, Natural Gas
- Property Class: Residential Income
- Total Rooms: 11
- Status: Closed
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Additional Details
- Appliances: Range, Microwave, Refrigerator
- Flooring: Tile, Hardwood
- Interior Features: Lead Certification Available, Storage, Bathroom With Tub, Open Floorplan, Kitchen, Living RM/Dining RM Combo, Living Room, Dining Room
- Road Frontage Type: Public
- Total Number of Units: 2
- Year Built Details: Approximate, Renovated Since
- Zoning: Na
- Construction: Frame
- Foundation: Stone
- Lot Features: Corner Lot, Level
- Roof: Rubber
- View: City View(s)
- Year Built Source: Public Records
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Amenities
- Community Features: Public Transportation, Shopping, Medical Facility, Laundromat, Highway Access, Public School, University
- Parking Features: Off Street, On Street, Deeded
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Utilities
- Electric: 110 Volts
- Water Source: Public
- Sewer: Public Sewer
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Fees / Taxes
- Assessed Value: $261,700
- Compensation Based On: Net Sale Price
- Rental Fee Includes: Unit 1(Water), Unit 2(Water)
- Taxes: $4,133
- Buyer Agent Compensation: 2%%
- Facilitator Compensation: 2%%
- Tax Year: 2024
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Content © 2026 MLS Property Information Network, Inc. The information in this listing was gathered from third party resources including the seller and public records.
Listing information provided courtesy of Cameron Prestige, LLC.
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.
