Sold!
$1,200,000
11
Beds
10
Baths
7,862
Living Area
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Property Description
Excellent Investment opportunity. IRS 1031 Exchange Option available. Property has been managed by same company for 35 plus years. Good Condition and Low Turnover. The property consists of two buildings: 12 Varney, which has 4 units, and 14-16 Varney, offering 6 units. With a total of 10 units generating over $10k in monthly income, which is a 9.18% Cap Rate. 14 Varney has new steam boiler installed 2020, Elec panel updated to breakers 2020, Sewer line upgraded 2023. The location is convenient, with easy access to Lowell MBTA, shopping, and a public park, as well as major highways. Additionally, the property includes a small yard, 1-car garage, 2 off-street parking and plenty of on-street parking.
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Highlights
- Levels: 5
- Property Class: Residential Income
- Stories: 5
- Year Built: 1900
- Parking Spots: 3
- Property Type: 5-9 Family
- Total Rooms: 27
- Status: Closed
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Additional Details
- Appliances: Range, Refrigerator
- Interior Features: Living Room, Kitchen
- SqFt Source: Other
- Year Built Details: Approximate
- Zoning: Tmf
- Foundation: Concrete Perimeter, Other
- Road Frontage Type: Public
- Total Number of Units: 10
- Year Built Source: Public Records
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Amenities
- Community Features: Public Transportation, Park, Public School, T-Station
- Parking Features: Paved Drive, Off Street, On Street, Paved
- Covered Parking Spaces: 1
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Utilities
- Sewer: Public Sewer
- Water Source: Public
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Fees / Taxes
- Assessed Value: $700,700
- Tax Year: 2024
- Total Rent: $11,850
- Rental Fee Includes: Unit 1(Heat, Electric, Water, Hot Water), Unit 2(Heat, Electric, Water, Hot Water), Unit 3(Heat, Electric, Water, Hot Water), Unit 4(Heat, Electric, Water, Hot Water)
- Taxes: $8,345
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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 LAER Realty Partners.
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.
