$7,000,000
447 Pleasant St
Melrose, MA, 02176
447 Pleasant St is a three-story brick building with 24 residential units consisting of 1 Studio unit and (23) 1-Bedroom/1-Bathroom units. The units are separately metered for electric, which is paid directly by the tenants. The Landlord is responsible for electric heat and hot water, common area electric, and domestic water and sewer. 447 Pleasant Street has been well maintained throughout ownership and features ample off-street parking with 21 spaces. The Property also offers an elevator and on site laundry facility, and each unit has a private walk-out patio or balcony. 447 Pleasant Street offers the opportunity to acquire a well-maintained investment Property with upside in an exceptional, urban-infill location. The subject property is ideal for a potential buyer looking for income growth and strong investment returns. In-place rents are below market rates, providing significant potential for upside by achieving market rents through programmatic upgrades to the unrenovated units.
Property Details
Price:
$7,000,000
MLS #:
73380148
Status:
Active
Beds:
24
Baths:
24
Address:
447 Pleasant St
Type:
Multi Family
Subtype:
5+ Family – 5+ Units Up/Down
City:
Melrose
Listed Date:
May 27, 2025
State:
MA
Finished Sq Ft:
13,440
Total Sq Ft:
13,440
ZIP:
02176
Lot Size:
19,994 sqft / 0.45 acres (approx)
Year Built:
1964
Units:
24
Schools
Interior
Bathrooms
24 Full Bathrooms
Exterior
Community Features
Public Transportation, Shopping, Park, Walk/ Jog Trails, Medical Facility, Bike Path, Highway Access, Private School, Public School, T- Station
Parking Features
Off Street
Parking Spots
21
Roof
Rubber
Financial
Tax Year
25
Taxes
$31,085
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 Horvath & Tremblay. 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.
447 Pleasant St
Melrose, MA
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