BEDS7
BATHS4 full 2 partial
SQUARE FEET6,457
MLS#73481847
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
Property Description
Solid brick 4-unit mixed-use investment at 581 Proctor Ave & 233 Washington St featuring 3 residential units and a 2000+ sq ft commercial dance studio with long-term tenant of 39 years. Residential units include two 4-room/2-bedroom/1-bath apartments and one 6-room/3-bedroom unit with office or den. Common laundry room. Property currently operating at a strong 9% cap rate. All tenants are Section 8 with reliable income stream. All Delead Certificates in hand. Excellent cash flow, durable construction, and exceptional tenant stability make this a true investor opportunity. Dance studio leased till 2029. .
Property Features
Property Type: Multi Unit - Multiple
Cooling: None, Wall Unit(s)
Fireplaces: 1
Heating: Baseboard, Natural Gas
Lot Size: 0.08 Acres
Roof Type: Shingle
Stories: 4.0
Taxes: $14,000
Year Built: 1960
Amenities
Lead Certification Available
Upgraded Cabinets
Upgraded Countertops
Bathroom With Tub & Shower
Ceiling Fan(s)
Studio
Living Room
Kitchen
Living RM/Dining RM Combo
Office/Den
Feature Descriptions
Appliances: Range, Microwave, Refrigerator, Dishwasher, Other
Building Area Total: 6457
Community Features: Public Transportation, Shopping
Compensation Based On: N/A
Compensation Broker Transaction: N/A
Compensation Buyer Agency: N/A
Compensation Sub Agency: N/A
Compensation Sub Agency Offered: N/A
Dwelling Type: 4 Family
Exterior: Brick
Fireplace Features: Wood Burning
Fireplace Y/N: Yes
Flooring: Wood, Tile
HeatingY/N: 1
Lot Features: Corner Lot
Parking Total: 0
Rent Includes: Unit 1(Water), Unit 2(Water), Unit 3(Water), Unit 4(Water)
Rooms Total: 16
Security: yes
Security Features: Security System
Sewer: Public Sewer
Units: 4
Water: Public
Window Features: Picture Window
Listed By / Shown By
Listed By
Agency Name: Trinity Real Estate
Agency Phone: 781-231-9800
Agent Name: Annemarie Torcivia
Shown By
Agency Title: Better Homes and Gardens Real Estate The Masiello Group
Agency Phone: 800-741-1540
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Estimated Payment
$ 4,914.83 per month $3,313.87 Principal & Interest $1,166.67 Property Tax $434.29 Homeowner's Insurance
581 & 233 Proctor & Washington Ave | MLS# 73481847
This multi-family property located at 581 & 233 Proctor & Washington Ave, Revere, MA 02151 is currently listed for sale with an asking price of $1,489,000. Search Revere real estate on www.masiellogrouprealestate.com today.