$1,300,000
$1,350,000
3.7%For more information regarding the value of a property, please contact us for a free consultation.
99-103 Cedar Street Haverhill, MA 01830
16 Beds
7 Baths
6,500 SqFt
Key Details
Sold Price $1,300,000
Property Type Multi-Family
Sub Type 5-9 Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,500 sqft
Price per Sqft $200
MLS Listing ID 72844013
Sold Date 07/02/21
Bedrooms 16
Full Baths 7
Year Built 1870
Annual Tax Amount $7,491
Tax Year 2019
Lot Size 6,534 Sqft
Acres 0.15
Property Sub-Type 5-9 Family
Property Description
**EXCELLENT INCOME PRODUCING PROPERTY** Legally Re-Zoned & Renovated 7 Unit Multi-Family. This Property Offers Two 3 Bedroom Units and Five 2 Bedroom Units ALL Utilities Separately Metered. Net Operating Income is $107,000. Cap Rate of 12% Potential to Maximize Revenue with Rents Below Market Value. Operating Expenses (Including Taxes, Water, Electric & Insurance) $14,000 Great ROI for a 1031 Exchange. Tenants Responsible for Heat, Hot Water and Electric. 4/7 Units Renovated from Studs Out. Architectural Drawings Remain for 3 units to Convert into 3 Bedrooms. All Units Occupied, Tenants at Will. On/Off Street Parking and Private Driveway. All Newly Installed Sprinkler System, Hardwired Fire Detectors, Security Surveillance System, Vinyl Siding, Windows, Doors and Decks (Roof 2011) Convenient Location to Downtown, Commuter Rail, Shops, Restaurants & Highway.
Location
State MA
County Essex
Zoning Resident
Direction Corner of Cedar & 7th Ave
Rooms
Basement Walk-Out Access, Unfinished
Interior
Interior Features Unit 1(Stone/Granite/Solid Counters, Upgraded Cabinets, Upgraded Countertops, Open Floor Plan), Unit 1 Rooms(Living Room, Kitchen), Unit 2 Rooms(Living Room, Kitchen)
Heating Unit 1(Gas)
Cooling Unit 1(None)
Flooring Unit 1(undefined)
Appliance Unit 1(Range, Microwave, Countertop Range, Refrigerator - ENERGY STAR, Dishwasher - ENERGY STAR, Vent Hood), Unit 2(Range, Microwave, Countertop Range, Refrigerator - ENERGY STAR, Dishwasher - ENERGY STAR, Vent Hood)
Exterior
Total Parking Spaces 10
Garage No
Building
Lot Description Corner Lot
Story 4
Foundation Irregular
Sewer Public Sewer
Water Public
Schools
Elementary Schools Pentucket Lake
Middle Schools Whittier Middle
High Schools Haverhill High
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Bought with Nick Cowden • Coldwell Banker Realty - Marblehead