18-20 North High Street, Melrose, MA, 02176
17 rooms
7 beds
4 Full baths
1900
4,154 sqft
Rarely does a stabilized four-family come to market with this combination of location, income, and upside. Positioned steps from Cedar Park and the commuter rail, this well-maintained asset delivers immediate cash flow with a clear value-add runway. The building offers 4,154 sq ft across four fully occupied units: three identical 1-bed/1-bath apartments and one, two-level 3-bed/1-bath renovated within the last year. The total rent income is $8,925/month, major systems have been upgraded and utilities separated out to each unit. Cosmetic upgrades for the two, first floor units present a straightforward path to bring rents to market upon turnover. Four off-street parking spaces, coin-op laundry, and consistent capital improvements over the past decade round out a compelling profile. For the long-term holder or condo converter, this is the kind of north-of-Boston multifamily with lots of potentials hard to overlook.
Status:
Active
Type:
Multi-family
Units:
4
Zoning:
URA
Heating:
Baseboard, Natural Gas, Unit Control
Basement:
Partial, Walk-Out Access, Concrete, Unfinished
Levels:
5
Parking:
4-car, Paved Drive, Off Street
Acreage:
0.11
Est. Taxes:
$11,079
Assessment
$965,900
Construction
Frame, Stone
Lot Description:
Gentle Sloping
Amenities:
Public Transportation, Shopping, Pool, Tennis Court(s), Park, Medical Facility, Laundromat, Conservation Area, Private School, Public School
High School:
Melrose High
Appliances:
Range, Disposal, Refrigerator, Range Hood, Dishwasher
MLS #:
73530094
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of Jill Plank Butler, Newell Realty 781-640-6979