$550,000 ($161.10 per sqft)

Pending

Est. Mortgage $2,673/mo *

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5-7 Mt. Vernon, Fitchburg, MA, 01420

5-7 Mt. Vernon, Fitchburg, MA, 01420
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17 rooms

7 beds

5 Full baths

1900

3,414 sqft

This investment property is a turnkey, 5-unit building near downtown Fitchburg. It is comprised of four one-bedroom apartments and one three-bedroom apartments. This building has seen capital improvements and cost-saving measures, including aluminum siding, several upgraded windows to a vinyl replacement, some unit renovations, partial roof replacement, foundation pointing, and electric water heater replacement. Two apartments will be conveyed vacant for a buyer to establish their rental income. This property is a perfect investment for someone looking for a stable building that can produce a solid return with its low operating expenses, as all tenants pay for their heat and electricity. An estimated proforma shows the ability to gross $66,000 in 2024. With the proper rental income and additional building improvements, this property will surely turn a profit for any investor.

Status:

Pending

Type:

Multi-family

Units:

5

Zoning:

DB

Heating:

Natural Gas, Electric

Basement:

Full, Walk-Out Access, Concrete

Levels:

9

Parking:

5-car, Paved Drive, Off Street, Driveway

Acreage:

0.1

Est. Taxes:

$6,356

Assessment

$378,400

Construction

Frame

Utilities

for Gas Range

Amenities:

Public Transportation, Shopping, Pool, Tennis Court(s), Park, Walk/Jog Trails, Golf, Medical Facility, Laundromat, Bike Path, Highway Access, House of Worship, Private School, Public School, University

Appliances:

Range, Refrigerator

MLS #:

73309769

Community Info

School Info

Walk Score

Mass Transit

Yelp

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Listing courtesy of Michelle Peterson, Elm Grove Realty, LLC