322 Broadway Pending

Methuen,MA 01844

$ 825000

6 Beds

5.5 Baths

2762 SqFt


Key Details

Property Type Multi-Family

Sub Type 5-9 Family

Listing Status Pending

Purchase Type For Sale

Square Footage 2,762 sqft

Price per Sqft $298

MLS Listing ID 73289422

Bedrooms 6

Full Baths 5

Half Baths 1

Year Built 1860

Annual Tax Amount $6,940

Tax Year 2024

Lot Size 9,147 Sqft

Acres 0.21

Property Description

Discover the potential of 322 Broadway, a well-located multi-family building featuring 5 units on the edge of Methuen's Historic Downtown. This prime property is just under a mile from tax-free Salem, NH, and minutes away from the vibrant Tuscan Village development. With a 7% Cap Rate and rental upside, this property presents a lucrative opportunity for investors. Current leases are below market rates, offering significant room for rental increases by upgrading unit interiors (1 unit will require TLC). Situated in a Qualified Opportunity Zone, this property is ideally positioned in a high-demand, supply-constrained residential market. Generous lot with ample space for potential future enhancements or expansions. This property offers an excellent opportunity to capitalize on a growing area with the potential to enhance value through strategic upgrades. Don't miss out on this investment in a thriving community!

Location

State MA

County Essex

Zoning CBD

Direction Use GPS

Rooms

Basement Full,Walk-Out Access,Interior Entry,Concrete,Unfinished

Interior

Interior Features Other,Studio,Crown Molding,Ceiling Fan(s),Heated Attic,Living Room,Kitchen

Heating Baseboard,Natural Gas

Cooling Window Unit(s)

Flooring Vinyl,Carpet,Hardwood,Tile

Fireplaces Number 1

Appliance Range,Refrigerator,Range Hood

Exterior

Garage Spaces 1.0

Community Features Public Transportation,Shopping,Park,Walk/Jog Trails,Golf,Highway Access,Private School,Public School

Utilities Available for Gas Range

Roof Type Shingle

Total Parking Spaces 12

Garage Yes

Building

Story 6

Foundation Stone

Sewer Public Sewer

Water Public

Others

Senior Community false

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