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111 Main St, Peabody, MA 01960
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$4,300,000
21 Unit
27 Beds
21 Baths
10152 SQFT
0.30 Acre

Property Description

111 Main Street consists of two desirable, three-story buildings and contains a total of twenty-one residential units comprised of a three family property (front building) consisting of three 3-Bedroom/1 Bathroom units, and an 18-unit building (rear building) with eighteen Studio units. The well-maintained Property has received significant capital investment improvements since acquisition, including a new parking lot, renovated common areas, exterior updates (painting, siding, shutters), new mechanicals (both buildings), and renovations to most of the unit interiors. The front building is separately metered for electricity, heat and hot water, which the Tenants pay directly. The rear building is separately metered for electricity and the landlord is responsible for common area electric, heat and hot water. 111 Main Street offers the opportunity to acquire a well-maintained, fully leased, turnkey investment and is ideal for a potential buyer looking for income growth and strong returns

Property Details tap to expand

Building Information

  • Total Units: 21
  • Total Floors: 3
  • Total Bedrooms: 27
  • Total Full Baths: 21
  • Amenities: Bike Path, Golf Course, Highway Access, House of Worship, Laundromat, Medical Facility, Park, Private School, Public School, Public Transportation, Shopping, T-Station, Walk/Jog Trails
  • Basement Features: Unfinished Basement

Financial

  • APOD Available: Yes
  • Gross Operating Income: 406692
  • Gross Expenses: 113712
  • Net Operating Income: 292980

Utilities

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

Unit 1 Description

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

Unit 2 Description

  • Included in Rent: Water
  • Under Lease: No
  • Floors: 2
  • Levels: 1

Construction

  • Year Built: 2000
  • Type: 5+ Family - 5+ Units Side by Side
  • Foundation Info: Other (See Remarks)
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Lead Paint: Certified Treated
  • Warranty: No

Other Information

  • MLS ID# 73316838
  • Last Updated: 12/16/24

Property History tap to expand

Date Event Price Price/Sq Ft Source
12/16/2024Under Agreement$4,300,000$424MLSPIN
12/07/2024Active$4,300,000$424MLSPIN
12/03/2024New$4,300,000$424MLSPIN

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Seller's Representative: John Pentore, Horvath & Tremblay
Sub Agent Compensation: n/a
Buyer Agent Compensation: 2
Facilitator Compensation: n/a
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2024-12-16 10:59:00

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