Sold!
$2,352,000
11
Beds
11/2
Baths
8,167
Living Area
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Property Description
The Lofts @ Summer Street (40 Summer Street) consists of a four-story building with ten (10) residential units comprised of one (1), 2-Bedroom/2-Bathroom unit, two (2), 1-Bedroom/1.5 Bathroom units, and seven (7), 1-Bedroom/1-Bathroom units. The Property is situated on a 0.98-acre parcel of land with twenty-two (22) on-site parking spaces available for tenants and guests. A transformative gut renovation of the Property was completed in 2019 where the entirety of the buildings envelope, interiors, mechanicals, and fire system were updated. The building is separately metered for heat and electricity which the tenants pay directly. All units feature PTAC heating and air conditioning systems. The Landlord is responsible for common area heat and electric, hot water, and domestic water and sewer. The Lofts @ Summer Street offers the opportunity to acquire a well-located, fully leased, turn-key asset, that is poised for income growth.
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Highlights
- Cooling: Other
- Parking Spots: 22
- Property Type: 5+ Family - 5+ Units Up/Down
- Total Rooms: 31
- Status: Closed
- Levels: 5
- Property Class: Residential Income
- Stories: 5
- Year Built: 1938
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Additional Details
- Appliances: Washer, Dryer
- Lot Features: Other
- SqFt Source: Public Record
- Year Built Details: Approximate, Renovated Since
- Zoning: Cbd
- Foundation: Other
- Roof: Shingle, Rubber
- Total Number of Units: 10
- Year Built Source: Public Records
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Amenities
- Community Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Golf, Medical Facility, Bike Path, Conservation Area, Highway Access, House of Worship, Public School, T-Station, University
- 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: $1,628,500
- Tax Year: 2024
- Total Rent: $18,495
- Rental Fee Includes: Unit 1(Water, Hot Water), Unit 2(Water, Hot Water), Unit 3(Water, Hot Water)
- Taxes: $19,770
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 ESQ Realty Advisors LLC.
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.
