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You are here:
Home Massachusetts Lowell Multi-Family Homes for Sale

185-224 Smith St Lowell, MA 01851

$3,450,000
13 Unit
50 Beds
13 Baths
16292 SQFT
0.26 Acre
185-224 Smith St
Lowell, MA 01851

Property Description

Exceptional investment opportunity! A total of 13 units across four well-maintained buildings, comprising eleven 4-bedroom units and two 3-bedroom units. The package deal includes a triplex at 185-187 Smith St with major renovations completed in 2018, another triplex at 189-191 Smith St, a third triplex at 191-193 Smith St, and a fourplex at 224-226-228 Smith St, with the fourth unit fronting 61 Shaw St. All properties are individually listed on MLS. 185 -187 Smith and 19-193 Smith buildings are on registered land. Features include long-term tenants, units furnished with stoves and refrigerators, and individual laundry rooms in the buildings at 185, 189, and 193 Smith St. Off-street parking is available for 224 Smith St, with ample on-street parking for the others. These properties boast long-standing tenants and are expected to sell quickly.

Property Overview

Property Details click or tap to expand

Building Information

  • Total Units: 13
  • Total Floors: 9
  • Total Bedrooms: 50
  • Total Full Baths: 13
  • Basement Features: Dirt Floor, Full, Unfinished Basement
  • Common Rooms: Kitchen, Living Room
  • Common Appliances: Range, Refrigerator

Financial

  • APOD Available: Yes
  • Expenses Source: Pro. Forma Available
  • Gross Operating Income: 312564
  • Gross Expenses: 54239
  • Electric Expenses: 9586
  • Water/Sewer: 10996
  • INSC: 2771
  • Net Operating Income: 258325

Utilities

  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Electric, Water
  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Included in Rent: Electric, Water
  • Under Lease: Yes
  • Floors: 2
  • Levels: 1

Unit 3 Description

  • Included in Rent: Electric, Water
  • Under Lease: Yes
  • Floors: 3
  • Levels: 1

Unit 4 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Construction

  • Year Built: 1900
  • Type: 5+ Family - 5+ Units Up/Down
  • Foundation Info: Fieldstone
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73311077
  • Last Updated: 11/14/24
  • Terms: Contract for Deed, Rent w/Option

Property History click or tap to expand

Date Event Price Price/Sq Ft Source
11/14/2024Active$3,450,000$212MLSPIN
11/10/2024New$3,450,000$212MLSPIN

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Map & Resources

The Career Academy

Public Secondary School, Grades: 9-12

0.13mi

Abraham Lincoln School

Public Elementary School, Grades: PK-4

0.23mi

Charles W Morey School

Public Elementary School, Grades: PK-4

0.37mi

Laura Lee Therapeutic Day School

Public Elementary School, Grades: 3-8

0.41mi

St. Margaret Elementary School

Grades: 1-6

0.51mi

Saint Margaret Elementary School

Grades: PK - 8

0.53mi

Merrimack Valley Hebrew

School

0.58mi

Lowell Catholic School

Private School, Grades: PK-12

0.58mi

Captain John's

Bar

0.27mi

Catcher's Mitt

Bar

0.78mi

Tiny Arms Coffee Roasters

Coffee Shop

0.59mi

Dragonfly Cafe

Cafe

0.62mi

Coffee and Cotton

Cafe

0.83mi

Dunkin'

Donut & Coffee Shop

0.57mi

Phnom Penh Restaurant

Restaurant

0.25mi

Simply Khmer

Restaurant

0.26mi

Lowell Police

Police

0.44mi

Lowell Police Department

Police

1.12mi

UMass Lowell University Police

Police

1.2mi

Lowell Fire Department

Fire Station

0.38mi

Lowell Fire Department

Fire Station

0.49mi

Lowell Fire Department

Fire Station

0.78mi

Lowell Fire Department

Fire Station

1.12mi

Lowell Fire Department

Fire Station

1.17mi

Onyx Room Performance Space

Theatre

0.56mi

Western Avenue Studios

Arts Centre

0.52mi

American Textile History Museum

Museum

0.74mi

Loading Dock Gallery

Gallery

0.58mi

The Luna Theater

Cinema

0.79mi

Bob Vigeant Instructional T-Ball Field

Sports Centre. Sports: Baseball

0.91mi

Decosta Field

Sports Centre. Sports: Baseball

0.92mi

Durkin Park

Municipal Park

0.2mi

Lincoln Square Park

Municipal Park

0.23mi

Scullen Park

Park

0.37mi

Armory Park

Park

0.41mi

Clemente Park

Municipal Park

0.42mi

Callery Park

Municipal Park

0.42mi

Perry Playground

Park

0.42mi

Highland Playground

Park

0.47mi

Bartlett Community Partnership School

Recreation Ground

0.9mi

Olga Nieves Playground

Playground

0.8mi

foreigner Laundry

Laundry

0.33mi

laundry

Laundry

0.77mi

Asia Laundry

Laundry

0.81mi

Xtra Fuels

Gas Station

0.84mi

Paul Gennell Memorial Library

Library

0.77mi

Osborne Library

Library

0.77mi

Senior Center Branch Library

Library

0.82mi

Library

Library

0.86mi

Target

Department Store

0.62mi

Bayon Market

Supermarket

0.39mi

Market Basket

Supermarket

0.85mi

K Market

Convenience

0.22mi

XtraMart

Convenience

0.85mi

Five Below

Variety Store

0.77mi

Seller's Representative: Paul Brouillette, LAER Realty Partners
MLS ID#: 73311077

© 2024 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 2024-11-14 10:19:00