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$1,150,000
Total Beds: 10 Total Baths: 4
Total Units: 4 SQFT: 4496
LOT size: 0.13 Acres
132-134 Cottage St
Chelsea, MA 02150
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This Property is No Longer Available

Property Description

132-134 Cottage Street is a four unit multi-family building comprised of two, 2-Bedroom/1-Bathroom units and two, 3-Bedroom/1-Bathroom units with 4,496 square feet of living area in 8,112 total square feet on a 0.139-acre parcel listed at a 7.31% cap rate on current income. The building’s utilities are separately metered for electricity, heat, and hot water which the tenants pay directly while the landlord is responsible for domestic water and sewer, which has been sub-metered so that the expense can be passed on to the tenants. The building has been well maintained during ownership. Building amenities include a coin-op laundry room, three on-site garages and additional off-street parking in front of the garage spaces. While the building is typically fully occupied, the opportunity exists to drive rental rates through programmatic upgrades and renovations to the kitchens and bathrooms in all units, allowing the incoming owner to maximize rents in a supply constrained market.

Property Details

Building Information

  • Total Units: 4
  • Total Floors: 6
  • Total Bedrooms: 10
  • Total Full Baths: 4
  • Amenities: Highway Access, Other (See Remarks), Park, Public Transportation, Shopping, T-Station
  • Basement Features: Unfinished Basement
  • Common Rooms: Laundry
  • Common Appliances: Dryer, Washer

Financial

  • APOD Available: No
  • Gross Operating Income: 116443
  • Gross Expenses: 32396
  • Net Operating Income: 84047

Utilities

  • Hot Water: Natural Gas
  • Electric Info: Individually Metered
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Under Lease: No
  • Floors: 2
  • Levels: 1

Unit 3 Description

  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 4 Description

  • Under Lease: Yes
  • Floors: 2
  • Levels: 1

Construction

  • Year Built: 1920
  • Type: 4 Family
  • Foundation Info: Other (See Remarks)
  • Roof Material: Rubber
  • Lead Paint: Unknown

Other Information

  • MLS ID# 73082151
  • Last Updated: 03/15/23

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Map

Seller's Representative: Dennis Kelleher, Horvath & Tremblay
Sub Agent Compensation: 0
Buyer Agent Compensation: 2.5
Facilitator Compensation: 0
Compensation Based On: Gross/Full Sale Price
Sub-Agency Relationship Offered: Yes

© 2023 MLS Property Information Network, Inc.. All rights reserved.

The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

MLS PIN data last updated at 2023-03-15 11:53:00

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