Sold!
$825,000
6
Beds
5/1
Baths
2,762
Living Area
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Property Description
Discover the potential of 322 Broadway, a well-located multi-family building featuring 5 units on the edge of Methuen's Historic Downtown. This prime property is just under a mile from tax-free Salem, NH, and minutes away from the vibrant Tuscan Village development. With a 7% Cap Rate and rental upside, this property presents a lucrative opportunity for investors. Current leases are below market rates, offering significant room for rental increases by upgrading unit interiors (1 unit will require TLC). Situated in a Qualified Opportunity Zone, this property is ideally positioned in a high-demand, supply-constrained residential market. Generous lot with ample space for potential future enhancements or expansions. This property offers an excellent opportunity to capitalize on a growing area with the potential to enhance value through strategic upgrades. Don’t miss out on this investment in a thriving community!
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Highlights
- Cooling: Window Unit(s)
- Levels: 4
- Property Class: Residential Income
- Stories: 4
- Year Built: 1860
- Heating: Baseboard, Natural Gas
- Parking Spots: 13
- Property Type: 5-9 Family
- Total Rooms: 14
- Status: Closed
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Additional Details
- Appliances: Range, Refrigerator, Range Hood
- Construction: Frame, Stone
- Flooring: Vinyl, Carpet, Hardwood, Tile
- Interior Features: Other, Studio, Crown Molding, Ceiling Fan(s), Heated Attic, Living Room, Kitchen
- Roof: Shingle
- Total Number of Units: 5
- Year Built Source: Public Records
- Basement: Full, Walk-Out Access, Interior Entry, Concrete, Unfinished
- Fireplaces: 1
- Foundation: Stone
- Road Frontage Type: Public
- SqFt Source: Public Record
- Year Built Details: Approximate
- Zoning: Cbd
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Amenities
- Community Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Golf, Highway Access, Private School, Public School
- Parking Features: Paved Drive, Off 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: $639,000
- Tax Year: 2024
- Total Rent: $7,075
- Rental Fee Includes: Unit 1(Heat, Electric, Gas, Water, Hot Water), Unit 2(Heat, Electric, Gas, Water, Hot Water), Unit 3(Heat, Electric, Gas, Water, Hot Water), Unit 4(None)
- Taxes: $6,940
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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 Tower Hill Ventures LLC.
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.
