322 Broadway Active Save Request In-Person Tour Request Virtual Tour
Methuen,MA 01844
Key Details
Property Type Multi-Family
Sub Type 5-9 Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,762 sqft
Price per Sqft $298
MLS Listing ID 73289422
Bedrooms 6
Full Baths 5
Half Baths 1
Year Built 1860
Annual Tax Amount $6,940
Tax Year 2024
Lot Size 9,147 Sqft
Acres 0.21
Property Description
Discover the potential of 322 Broadway, a well-located multi-family building featuring 5 units on the edge of Methuen's Historic Downtown. This prime property is just under a mile from tax-free Salem, NH, and minutes away from the vibrant Tuscan Village development. With a 7% Cap Rate and rental upside, this property presents a lucrative opportunity for investors. Current leases are below market rates, offering significant room for rental increases by upgrading unit interiors (1 unit will require TLC). Situated in a Qualified Opportunity Zone, this property is ideally positioned in a high-demand, supply-constrained residential market. Generous lot with ample space for potential future enhancements or expansions. This property offers an excellent opportunity to capitalize on a growing area with the potential to enhance value through strategic upgrades. Don’t miss out on this investment in a thriving community!
Location
State MA
County Essex
Zoning CBD
Direction Use GPS
Rooms
Basement Full,Walk-Out Access,Interior Entry,Concrete,Unfinished
Interior
Interior Features Other,Studio,Crown Molding,Ceiling Fan(s),Heated Attic,Living Room,Kitchen
Heating Baseboard,Natural Gas
Cooling Window Unit(s)
Flooring Vinyl,Carpet,Hardwood,Tile
Fireplaces Number 1
Appliance Range,Refrigerator,Range Hood
Exterior
Garage Spaces 1.0
Community Features Public Transportation,Shopping,Park,Walk/Jog Trails,Golf,Highway Access,Private School,Public School
Utilities Available for Gas Range
Waterfront false
Roof Type Shingle
Parking Type Paved Drive,Off Street,Paved
Total Parking Spaces 12
Garage Yes
Building
Story 6
Foundation Stone
Sewer Public Sewer
Water Public
Others
Senior Community false