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$900,000
8
Beds
5
Baths
4,317
Living Area
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Property Description
127 Newbury Street consists of a three-story building containing five (5) residential units comprised of three (3), 2-Bedroom/1-Bathroom units and two (2), 1-Bedroom/1-Bathroom units with 4,317 square feet of living area in 6,009 total gross square feet and is situated on a 0.17-acre parcel of land with off-street parking available to tenants. Utilities are separately metered for electricity, heat, and hot water which the tenants pay directly. Unit 1 (2 bed/1 bath) recently became vacant, the Property offers a 8.07 current cap rate and in-place rents are significantly below the current market rates. The opportunity exists to increase income via programmatic updates to the unrenovated units, common areas and exteriors to drive rental rates in a high demand/supply-constrained residential market.
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Highlights
- Levels: 5
- Property Class: Residential Income
- Stories: 5
- Year Built: 1900
- Parking Spots: 8
- Property Type: 5-9 Family
- Total Rooms: 18
- Status: Closed
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Additional Details
- Basement: Full, Unfinished
- Foundation: Stone
- SqFt Source: Public Record
- Year Built Details: Approximate
- Zoning: R3
- Construction: Frame
- Roof: Shingle, Slate, Rubber
- Total Number of Units: 5
- Year Built Source: Public Records
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Amenities
- Community Features: Public Transportation, Shopping, Park, Laundromat, Highway Access, House of Worship, Public School, T-Station, University
- Parking Features: Paved Drive, Off Street
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Utilities
- Sewer: Public Sewer
- Water Source: Public
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Fees / Taxes
- Assessed Value: $687,700
- Tax Year: 2024
- Total Rent: $8,250
- Rental Fee Includes: Unit 1(Water), Unit 2(Water), Unit 3(Water), Unit 4(Water)
- Taxes: $8,266
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Listing information provided courtesy of Realty World.
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