$850,000
322 Broadway
Methuen, MA, 01844
Discover the potential of 322 Broadway, a well-located multi-family building featuring 5 units on the edge of Methuen’s Historic Downtown. This prime property is just under a mile from tax-free Salem, NH, and minutes away from the vibrant Tuscan Village development. With a 7% Cap Rate and rental upside, this property presents a lucrative opportunity for investors. Current leases are below market rates, offering significant room for rental increases by upgrading unit interiors (1 unit will require TLC). Situated in a Qualified Opportunity Zone, this property is ideally positioned in a high-demand, supply-constrained residential market. Generous lot with ample space for potential future enhancements or expansions. This property offers an excellent opportunity to capitalize on a growing area with the potential to enhance value through strategic upgrades. Don’t miss out on this investment in a thriving community!
Property Details
Price:
$850,000
MLS #:
73289422
Status:
Active
Beds:
6
Baths:
5.5
Address:
322 Broadway
Type:
Multi Family
Subtype:
5-9 Family
City:
Methuen
Listed Date:
Sep 12, 2024
State:
MA
Finished Sq Ft:
2,762
Total Sq Ft:
2,762
ZIP:
01844
Lot Size:
9,060 sqft / 0.21 acres (approx)
Year Built:
1860
Units:
5
Schools
Interior
Appliances
Range, Refrigerator, Range Hood
Bathrooms
5 Full Bathrooms, 1 Half Bathroom
Cooling
Window Unit(s)
Fireplaces Total
1
Flooring
Vinyl, Carpet, Hardwood, Tile
Heating
Baseboard, Natural Gas
Exterior
Community Features
Public Transportation, Shopping, Park, Walk/ Jog Trails, Golf, Highway Access, Private School, Public School
Construction Materials
Frame, Stone
Parking Features
Paved Drive, Off Street, Paved
Parking Spots
12
Roof
Shingle
Financial
Tax Year
2024
Taxes
$6,940
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 Jack Gately Real Estate, 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.
322 Broadway
Methuen, MA
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