262 Adams St
$1,999,999
10
Beds
5
Baths
4,500
Sqft
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$1,999,999
10
Beds
5
Baths
4,500
Living Area
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Property Description
Fully-tenanted mixed-use corner portfolio consisting of 262 Adams St and 40 Middle St-two separate buildings situated on one lot-offering an exceptional opportunity in Newton's BU2 zoning district. The portfolio includes four residential units and one commercial office space, with gross rental income of $11,650/month. There is potential to expand into a sixth residential unit, subject to city approvals. The commercial tenant is leased through August 2027, while all residential units are Tenant-at-Will, providing flexibility for future rent adjustments or repositioning. All current rents are well below market, offering considerable upside. The properties feature Queen Anne Colonial and Victorian architecture, separate utilities, off-street parking, and close proximity to the Mass Pike, Rt. 95, Whole Foods, YMCA, and public transit-ideal for investors, 1031 exchange buyers, long-term hold strategies, or future development opportunities.
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Highlights
- Levels: 9
- Property Class: Residential Income
- Stories: 9
- Year Built: 1920
- Parking Spots: 3
- Property Type: 5-9 Family
- Total Rooms: 24
- Status: Active
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Additional Details
- Basement: Bulkhead
- Exclusions: Tenant Belongings And Any Appliances Or Fixtures Not Owned By The Seller.
- Lot Features: Corner Lot, Cleared, Level
- SqFt Source: Other
- Year Built Details: Actual
- Zoning: Bu2
- Construction: Brick
- Foundation: Brick/Mortar
- Roof: Asphalt/Composition Shingles
- Total Number of Units: 5
- Year Built Source: Public Records
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Amenities
- Community Features: Public Transportation, Shopping, Medical Facility, Laundromat, Highway Access, Public School, T-Station, University
- Parking Features: Off Street
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Utilities
- Sewer: Public Sewer
- Water Source: Public
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Fees / Taxes
- Assessed Value: $1,327,700
- Compensation Based On: Gross/Full Sale Price
- Taxes: $24,365
- Buyer Agent Compensation: 2%
- Tax Year: 2025
- Total Rent: $8,045
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