Price Reduced 2.94%

$825,000 ($298.70 per sqft)

Est. Mortgage $4,064/mo *

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322 Broadway, Methuen, MA, 01844

322 Broadway, Methuen, MA, 01844
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14 rooms

6 beds

5 Full / 1 Half baths

1860

2,762 sqft

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!

Status:

Active

Type:

Multi-family

Units:

5

Zoning:

CBD

Garage:

1-car

Heating:

Baseboard, Natural Gas

Cooling:

Window Unit(s)

Basement:

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

Levels:

6

Parking:

12-car, Paved Drive, Off Street, Paved

Acreage:

0.21

Est. Taxes:

$6,940

Assessment

$639,000

Construction

Frame, Stone

Utilities

for Gas Range

Amenities:

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

Appliances:

Range, Refrigerator, Range Hood

MLS #:

73289422

Community Info

School Info

Walk Score

Mass Transit

Yelp

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Listing courtesy of Jolmi Minaya, Tower Hill Ventures LLC Phone: 617-412-5498