$1,200,000
$1,150,000
4.3%For more information regarding the value of a property, please contact us for a free consultation.
10 Beds
4 Baths
4,496 SqFt
SOLD DATE : 04/28/2023
Key Details
Sold Price $1,200,000
Property Type Multi-Family
Sub Type 4 Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,496 sqft
Price per Sqft $266
MLS Listing ID 73082151
Sold Date 04/28/23
Bedrooms 10
Full Baths 4
Year Built 1920
Annual Tax Amount $13,930
Tax Year 2023
Lot Size 5,662 Sqft
Acres 0.13
Property Description
132-134 Cottage Street is a four unit multi-family building comprised of two, 2-Bedroom/1-Bathroom units and two, 3-Bedroom/1-Bathroom units with 4,496 square feet of living area in 8,112 total square feet on a 0.139-acre parcel listed at a 7.31% cap rate on current income. The building’s utilities are separately metered for electricity, heat, and hot water which the tenants pay directly while the landlord is responsible for domestic water and sewer, which has been sub-metered so that the expense can be passed on to the tenants. The building has been well maintained during ownership. Building amenities include a coin-op laundry room, three on-site garages and additional off-street parking in front of the garage spaces. While the building is typically fully occupied, the opportunity exists to drive rental rates through programmatic upgrades and renovations to the kitchens and bathrooms in all units, allowing the incoming owner to maximize rents in a supply constrained market.
Location
State MA
County Suffolk
Zoning Res
Direction Last right on Highland St heading towards Bellingham Hill Park.
Rooms
Basement Unfinished
Interior
Appliance Washer, Dryer, Gas Water Heater
Laundry Laundry Room
Exterior
Garage Spaces 3.0
Community Features Public Transportation, Shopping, Park, Highway Access, T-Station, Other
Roof Type Rubber
Total Parking Spaces 9
Garage Yes
Building
Lot Description Corner Lot
Story 6
Foundation Other
Sewer Public Sewer
Water Public
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Bought with Gustavo Veloz • COM-PRO Real Estate Services, Inc