$1,750,000
72-74 Thornton St
Revere, MA, 02151
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.
Property Details
Price:
$1,750,000
MLS #:
73255322
Status:
Pending
Beds:
16
Baths:
6
Address:
72-74 Thornton St
Type:
Multi Family
Subtype:
5-9 Family
City:
Revere
Listed Date:
Jun 20, 2024
State:
MA
Finished Sq Ft:
6,237
Total Sq Ft:
6,237
ZIP:
02151
Lot Size:
5,009 sqft / 0.11 acres (approx)
Year Built:
1920
Units:
6
Schools
Interior
Appliances
Washer, Dryer
Bathrooms
6 Full Bathrooms
Exterior
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
Roof
Rubber
Financial
Tax Year
2024
Taxes
$15,497
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.
72-74 Thornton St
Revere, MA
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