$550,000
5-7 Mt. Vernon
Fitchburg, MA, 01420
This investment property is a turnkey, 5-unit building near downtown Fitchburg. It is comprised of four one-bedroom apartments and one three-bedroom apartments. This building has seen capital improvements and cost-saving measures, including aluminum siding, several upgraded windows to a vinyl replacement, some unit renovations, partial roof replacement, foundation pointing, and electric water heater replacement. Two apartments will be conveyed vacant for a buyer to establish their rental income. This property is a perfect investment for someone looking for a stable building that can produce a solid return with its low operating expenses, as all tenants pay for their heat and electricity. An estimated proforma shows the ability to gross $66,000 in 2024. With the proper rental income and additional building improvements, this property will surely turn a profit for any investor.
Property Details
Price:
$550,000
MLS #:
73309769
Status:
Active Under Contract
Beds:
7
Baths:
5
Address:
5-7 Mt. Vernon
Type:
Multi Family
Subtype:
5+ Family – 5+ Units Up/Down
City:
Fitchburg
Listed Date:
Nov 5, 2024
State:
MA
Finished Sq Ft:
3,414
Total Sq Ft:
3,414
ZIP:
01420
Lot Size:
4,399 sqft / 0.10 acres (approx)
Year Built:
1900
Units:
5
Schools
Interior
Appliances
Range, Refrigerator
Bathrooms
5 Full Bathrooms
Flooring
Wood, Vinyl, Carpet, Hardwood
Heating
Natural Gas, Electric
Exterior
Community Features
Public Transportation, Shopping, Pool, Tennis Court(s), Park, Walk/ Jog Trails, Golf, Medical Facility, Laundromat, Bike Path, Highway Access, House of Worship, Private School, Public School, University
Construction Materials
Frame
Exterior Features
Rain Gutters
Parking Features
Paved Drive, Off Street, Driveway
Parking Spots
5
Roof
Shingle, Slate
Financial
Tax Year
2024
Taxes
$6,356
Marie Andrews is an award-winning, licensed real estate broker with licenses in Massachusetts and Florida. She has been selling real estate in the greater Boston area for over 20 years. Over the past two decades, Marie has worked for Century 21 Advanced Realty, building a reputation as a multi-million dollar producer. She has developed an extensive network of investors, lenders, and attorneys. Marie has a wide knowledge base on property management, Massachusetts real estate law, and building…
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Courtesy of Elm Grove Realty, LLC. The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.
5-7 Mt. Vernon
Fitchburg, MA
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