Sold!
$1,940,000
12
Beds
8
Baths
4,877
Living Area
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Property Description
2-4 Mechanic Street offers the opportunity to acquire a fully leased, turnkey investment in an exceptional, urban-infill location at a 6.05% cap rate on current income with rental upside. 2-4 Mechanic Street is a two-story building with four (4), 3-Bedroom/2-Bathroom duplex style units. The building was comprehensively renovated in 2019 and each of the four duplex units features open layout with new kitchens featuring white custom cabinets, granite countertops, and stainless-steel appliances. The units also have hardwood floors, in-unit laundry, new individual HVAC heating systems. The exterior of the Property was alco renovated and has a new roof, new wood siding and new windows. Additionally, there are Four (4) parking spaces at the rear of the property which is accessed through 204-206 Elliot Street (Driveway Easement). The subject property is ideal for a potential buyer looking for income growth and strong investment returns.
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Highlights
- Cooling: Central Air
- Parking Spots: 4
- Property Type: 4 Family
- Year Built: 1850
- Heating: Central
- Property Class: Residential Income
- Total Rooms: 20
- Status: Closed
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Additional Details
- Appliances: Washer, Dryer
- Lot Features: Corner Lot
- Roof: Shingle
- Year Built Details: Approximate
- Zoning: Mr2
- Foundation: Stone
- Road Frontage Type: Public
- Total Number of Units: 4
- Year Built Source: Public Records
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Amenities
- Community Features: Public Transportation, Shopping, Tennis Court(s), Park, Walk/Jog Trails, Medical Facility, Bike Path, Conservation Area, Highway Access, House of Worship, Private School, Public School, T-Station
- Parking Features: Off Street
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Utilities
- Electric: Individually Metered
- Water Source: Public
- Sewer: Public Sewer
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Fees / Taxes
- Assessed Value: $1,519,900
- Compensation Based On: Net Sale Price
- Tax Year: 2024
- Total Rent: $12,400
- Buyer Agent Compensation: 2.5%%
- Rental Fee Includes: Unit 1(Water), Unit 2(Water), Unit 3(Water), Unit 4(Water)
- Taxes: $14,983
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.
