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Listed by Mike Kalil of Watson Realty & Associates, PLC
4 Family Victorian home with a 5th unit ready to be added on the third floor with a little work, a 3 bedroom unit with over 2000 Square Feet on 3 floors makes this a perfect owner occupy unit, the property has been in the same ownership for over 40 years, many updates have been done over the years, all separate heating systems and hot water, tenants pay their most of the utilities, Property has Great rental history, some of the tenants have been residing there for 15 and 20 years, rents are well bellow the market value, owner just didn't increase rents, at the current income the Cap Rate is over 8% , with rents at market value the Cap Rate is over 12%.
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Property Details of 60 Chestnut Avenue

Property Details

Interior Features

  • Description: 4 Family Victorian home with a 5th unit ready to be added on the third floor with a little work, a 3 bedroom unit with over 2000 Square Feet on 3 floors makes this a perfect owner occupy unit, the property has been in the same ownership for over 40 years, many updates have been done over the years, all separate heating systems and hot water, tenants pay their most of the utilities, Property has Great rental history, some of the tenants have been residing there for 15 and 20 years, rents are well bellow the market value, owner just didn't increase rents, at the current income the Cap Rate is over 8% , with rents at market value the Cap Rate is over 12%.

Exterior Features

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Copyright 2020 New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate for sale on this web site comes in part from the IDX Program of NEREN. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated October 1, 2020.

 

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