Property Description

Well-maintained four-unit multifamily investment property in the heart of Methuen. This asset offers a mix of (1) 4-bedroom/2-bathroom townhouse unit and (3) 1-bedroom/1-bathroom units, totaling 4,074 square feet of living space on a 0.27-acre parcel. Recent property improvements, including a newer roof, windows, insulation, water heater tank, and boiler, enhance long-term value and minimize maintenance costs. Additional amenities such as off-street parking, a garage, and backyard space. Located in a high-demand residential neighborhood, the property provides seamless access to major highways (Routes 93 & 213), downtown Methuen, and is just minutes from the New Hampshire state line. Current rental rates are below market, presenting an opportunity to enhance revenue by aligning rents with market levels.

Property Details tap to expand

Building Information

  • Total Units: 4
  • Total Floors: 6
  • Total Bedrooms: 7
  • Total Full Baths: 5
  • Amenities: Highway Access, Medical Facility, Other (See Remarks), Park, Private School, Public School, Public Transportation, Shopping
  • Basement Features: Full, Unfinished Basement, Walk Out
  • Common Rooms: Dining Room, Kitchen, Living Room
  • Common Appliances: Dryer, Microwave, Range, Refrigerator, Washer
  • Common Heating: Electric Baseboard, Oil, Radiant

Financial

  • APOD Available: Yes
  • Expenses Source: Estimated, Other (See Remarks), Owner Provided
  • Gross Operating Income: 99000
  • Gross Expenses: 28720
  • Net Operating Income: 70280

Utilities

  • Utility Connections: for Gas Dryer, for Gas Range
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Heat, Hot Water, Water
  • Under Lease: No
  • Levels: 2

Unit 2 Description

  • Included in Rent: Heat, Hot Water, Water
  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 3 Description

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

Unit 4 Description

  • Included in Rent: Heat, Hot Water, Water
  • Under Lease: No
  • Floors: 3
  • Levels: 1

Construction

  • Year Built: 1900
  • Type: 4 Family
  • Construction Type: Aluminum, Frame
  • Foundation Info: Fieldstone
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Flooring Type: Hardwood, Vinyl
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73336807
  • Last Updated: 02/22/25

Property History tap to expand

Date Event Price Price/Sq Ft Source
02/20/2025New$999,900$245MLSPIN

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Seller's Representative: Michael Alvarez, Alvarez Real Estate Group LLC
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: n/a
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2025-02-22 10:20:00