185-193 Smith St, Lowell, MA 01851
View Map
$2,355,000
9 Unit
36 Beds
9 Baths
11685 SQFT
0.17 Acre

Property Description

Exceptional investment opportunity! Cap Rate 7.56%. A total of 9 units across three well-maintained buildings, comprising nine 4-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 193-195 Smith St. All properties are individually listed on MLS. 185 Smith and 195 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. with ample on-street parking. These properties boast long-standing tenants and are expected to sell quickly.

Property Details tap to expand

Building Information

  • Total Units: 9
  • Total Floors: 9
  • Total Bedrooms: 36
  • Total Full Baths: 9
  • 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: 222564
  • Gross Expenses: 44604
  • Electric Expenses: 9586
  • Water/Sewer: 9156
  • INSC: 2205
  • Net Operating Income: 177960

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: 5-9 Family
  • Foundation Info: Fieldstone
  • Lead Paint: Yes
  • Warranty: No

Other Information

  • MLS ID# 73311077
  • Last Updated: 12/23/24
  • Terms: Contract for Deed, Rent w/Option

Property History tap to expand

Date Event Price Price/Sq Ft Source
12/23/2024Active$2,355,000$202MLSPIN
12/19/2024Back on Market$2,355,000$202MLSPIN
12/10/2024Under Agreement$2,355,000$202MLSPIN
11/26/2024Contingent$2,355,000$202MLSPIN
11/24/2024Active$2,355,000$202MLSPIN
11/20/2024Price Change$2,355,000$202MLSPIN
11/14/2024Active$3,450,000$295MLSPIN
11/10/2024New$3,450,000$295MLSPIN

Mortgage Calculator

View Breakdown

Map

Seller's Representative: Paul Brouillette, LAER Realty Partners
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: n/a
Sub-Agency Relationship Offered: No

© 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 2024-12-23 03:05:00