Sold!
$3,575,000
32
Beds
16
Baths
13,664
Living Area
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Property Description
131 Chestnut Street consists of two adjacent buildings with (16) 2-Bed/1-Bath units. Majority of the units have been renovated with new kitchens featuring quartz or granite countertops and stainless-steel appliances. The units also have new floors (hardwood, vinyl plank and carpet), updated bathrooms and in-wall AC units. Additionally, the Property features a laundry facility in each building, on-site storage lockers for tenants, and approximately 40 parking spaces. Building "A" was re-built within the past 10 years. The Property is separately metered for electric heat (baseboard) and hot water, which the tenants pay directly. The Landlord is responsible for common area electric and domestic water and sewer. The majority of the tenants are "Tenant at Will" and pay below market rents, providing the opportunity to increase rents to market rates immediately. The subject property is ideal for a potential buyer looking for income growth and strong investment returns with significant upside
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Highlights
- Heating: Electric
- Property Class: Residential Income
- Total Rooms: 64
- Status: Closed
- Parking Spots: 40
- Property Type: 5+ Family - 5+ Units Side by Side
- Year Built: 1969
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Additional Details
- Appliances: Washer, Dryer
- Road Frontage Type: Public
- Total Number of Units: 16
- Year Built Source: Public Records
- Foundation: Block
- Roof: Shingle
- Year Built Details: Actual
- Zoning: C30
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Amenities
- Community Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Bike Path, Highway Access, Private School, Public School
- Parking Features: Paved Drive, Off Street
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Utilities
- Electric: Individually Metered
- Water Source: Public
- Sewer: Public Sewer
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Fees / Taxes
- Assessed Value: $2,581,700
- Compensation Based On: Net Sale Price
- Tax Year: 24
- Total Rent: $27,165
- Buyer Agent Compensation: 1.75%%
- Rental Fee Includes: Unit 1(Water), Unit 2(Water)
- Taxes: $29,793
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 Horvath & Tremblay.
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.
