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$1,740,000
16
Beds
6
Baths
6,237
Living Area
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Property Description
72-74 Thornton St is a three-story building and contains a total of six units, consisting of four 3-Bedroom/1-Bathroom units and two 2-Bedroom/1-Bathroom units. The Property is well-located in a renter-dominated market and is typically fully occupied with low historical vacancy. There is a limited supply of multifamily housing in Revere with a high demand for rental units, given its location along the shore and proximity to downtown Boston (5-miles). The Property is located 0.4-miles from the Revere Beach MBTA T-Station and also enjoys close proximity to the commercial center of Revere and the Revere Beach offering an abundance of shopping, restaurant and outdoor recreation amenities. Listed at a 6.46% cap-rate on current income, in-place rents are below the current market rent for comparable units in the market, offering the Buyer the potential to raise rents and increase current revenue through a programmatic upgrade of the common areas and units.
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Highlights
- Property Class: Residential Income
- Total Rooms: 28
- Status: Closed
- Property Type: 5-9 Family
- Year Built: 1920
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Additional Details
- Appliances: Washer, Dryer
- Foundation: Stone, Brick/Mortar
- Road Frontage Type: Public
- Total Number of Units: 6
- Year Built Source: Public Records
- Basement: Unfinished
- Lot Features: Other
- Roof: Rubber
- Year Built Details: Actual
- Zoning: Rb
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Amenities
- Community Features: Public Transportation, Shopping, Pool, Tennis Court(s), Park, Walk/Jog Trails, Medical Facility, Laundromat, Bike Path, Highway Access, House of Worship, Marina, Private School, Public School, T-Station
- Waterfront Features: Beach Front, Sound, 3/10 to 1/2 Mile To Beach, Beach Ownership(Public)
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Utilities
- Electric: Individually Metered
- Water Source: Public
- Sewer: Public Sewer
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Fees / Taxes
- Assessed Value: $1,701,100
- Compensation Based On: Net Sale Price
- Tax Year: 2024
- Total Rent: $13,790
- Buyer Agent Compensation: 2%%
- Rental Fee Includes: Unit 1(Water), Unit 2(Water)
- Taxes: $15,497
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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 Zhensight Realty LLC.
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.
