5-7 Forest Ave

Marcus & Millichap is pleased to present 5-7 Forest Avenue, a six-unit multifamily property in Plymouth, Massachusetts, offered at $1,675,000. The three-story building sits on a 0.27-acre lot near Plymouth Center and consists entirely of two-bedroom, one-bath apartments of roughly 900 square feet each, with on-site laundry, 10 off-street parking spots, and a rear yard with patio.The property is priced at an 8.01% cap rate on current income, or $279,167 per unit. In-place rents average $2,550, about 5% below the $2,695 market rent, giving a buyer roughly $10,400 in annual upside as units turn over and an 8.58% cap rate at market. With 25% down at current rates, the asset produces positive leverage from day one, with a 9.28% cash-on-cash return and a 1.41 debt coverage ratio.The surrounding area supports steady rental demand. Nearly half of households within one mile rent, and the five-mile median household income is $115,913. The local employment base is anchored by healthcare and public employers, including Beth Israel Deaconess Hospital–Plymouth and Mass General Brigham.