9-11 Melbourne Street Boston, Massachusetts, 02124 United States
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Dorchester
9-11 Melbourne Street
Boston, Massachusetts, 02124 United States

Gibson Sotheby's International Realty
Listing image
Listing image

Property details

  • Property type

    Multi Family

  • Status

    Available

  • Year Built

    1900

  • property taxes

    $13,604/Year

Courtesy Of

Bridgestone Properties, LLC

9-11 Melbourne Street

RARE OPPORTUNITY FOR INVESTORS TO OWN A 6-UNIT BUILDING IN A PRIME LOCATION! Two 3 bedroom units on first floor and four 4 bedroom units on 2nd and 3rd floor all sunny with a living room and an eat-in kitchen with a dishwasher. The property has sprinklers throughout and an updated central fire alarm maintained by the private alarm company. The roof has been updated within the last 6 months and the basement is clean with laundry hookups. The building is next door to a well-maintained park with lots of green space and plenty of street parking. The return on investment is a no-brainer: At list price, it is a 7.13% cap rate with a 10.28% cash on cash return based on the current rent roll & expenses with 25% down and 75% financed at 4.5%. There is a huge and easy-to-achieve upside at this property by raising existing tenants' rents to be at the current subsidized rental rates. Those increases would see this property at list price come with a 17.45% cash on cash return and a cap rate of 8.9

Listing Courtesy of Bridgestone Properties, LLC

Courtesy Of

Bridgestone Properties, LLC

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Amenities & Features

  • Listing Details
    • Property ID
      72981613
    • MLS#
      72981613
    • Property type
      Multi Family
    • Courtesy Of
      Listing Courtesy of Bridgestone Properties, LLC
    • Status
      Available
    • Listing Price
      $1,950,000
    • Buyer Agency Compensation
      2
    • County
      Suffolk County
    • School District
      Boston
  • Utilities & Building
    • Year Built
      1900
    • property taxes
      $13,604/Year
    • Lot Size Unit
      Acre(s)
    • Lot Size
      0.08
  • Interior
    • Amenities
      Tennis Court, Park
    • Full Bathrooms
      6
    • Bedrooms
      22
    • total rooms
      28