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Closed

7 Prospect Ave, Greenfield MA 01301

$700,000

Estimated $1,749.05/month Calculator

Multi Family

Total Units: 6

Price Per Unit: $116,666.67

Total Rent: 60300/year

Estimated CAP Rate: 4.75%

8 Bedrooms

6 Full Baths

5,769 SqFt

Total Parking: 0

8,712 SqFt

LOOKING FOR A LUCRATIVE INVESTMENT PROPERTY, YOU'VE FOUND IT !!! With 6 units completely rented and a Cap Rate of 8.4% (with the opportunity to go up to 9%) this is a great property to add to your portfolio. All units are month to month rental agreements, tenants pay their own electric and gas for their hot water heaters (separately metered). Gas for heat paid by landlord. Security deposits being held on all units. Vacancies are never a problem !! There has been one vacant month in the past 5 years for renovations, that's it ! There is a large basement with a concrete floor that could easily be made into tenant storage and/or laundry for extra income. Unit's 3 & 5 are very large and 3 bedrooms may be possible? Rubber roof main 2005; small 2022, new boiler 2017, hot water heaters vary 2017 - 2021. Very well maintained and in great condition. Seller prefers to sell both buildings as a package, see MLS 73051556, 11 Conway St (combined cap rate 8.27% up to 10%) Qualified Opportunity Zone

This home has been viewed 35 times

Last Checked: May 7th, 2024 at 12:26am (Source: MLS PIN #73051557)

Gross Income: $60,300

Gross Expenses: $27,026

Net Income Calc: $33,274

CAP Rate: 4.75%

Annual Expenses for 7 Prospect Ave, Greenfield MA 01301

Total Gross Expenses (Calculated)$27,026/year

APOD AvailableYes

Heating$5,843

Electricity$486

Water$1,064

Gas$1,064

Insurance$3,172

Sewer$1,064

Trash Removal$1,380

Repair & Maintenance$6,532

Management

Miscellaneous$1,181

Real Estate Tax$7,368

Annual Income & Unit Breakdown for 7 Prospect Ave, Greenfield MA 01301

Total Gross Income (Calculated)$60,300

Unit 1

Rental Income$1,600

LeaseN

Bedrooms3

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingNo

Rent Includes

Unit 2

Rental Income$1,175

LeaseN

Bedrooms1

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingNo

Rent Includes

Unit 3

Rental Income$1,100

LeaseN

Bedrooms1

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingNo

Rent Includes

Unit 4

Rental Income$1,150

LeaseN

Bedrooms1

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingNo

Rent Includes

General Information for 7 Prospect Ave, Greenfield MA 01301

Listing ID73051557

Property TypeMulti Family / 5+ Family

Price$700,000 ($121.34/SqFt)

Style5-9 Family

CityGreenfield

CountyFranklin

MLS Area

Neighborhood(s)

Approximate Living Area Total5,769 SqFt

Approximate Lot Size (Acres)0.2 acres

Total Parking0

Garage Parking

Year Built1900

Year Built SourcePublic Records

Year Renovated

Year Built DetailsActual

Water

Sewer

Electric

Hot Water

Roof Material

Basement

Construction MaterialsFrame

Lot FeaturesLevel, Easements, Cleared, Additional Land Avail.

Foundation Area1806

Foundation DescriptionBrick/Mortar

Accessible Features

Outdoor Space

ZoningRA

Zoning Details

Water ViewsNo

Water Views Features

WaterfrontNo

Waterfront Features

Energy Features

Terms

Disclosures for 7 Prospect Ave, Greenfield MA 01301

Lead Paint

UFFI

Living Area Includes BasementNo

Living Area DisclosureOne 3 bedroom unit and Five 1 bedroom units

Building Area SourcePublic Records

Title 5

Exclusions

Disclosures

Financial Data SourceOwner

Total Gross Expenses By Broker$27,026

Total Gross Income By Broker$86,100

Total Net Income By Broker$59,074

For Sale By OwnerNo

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation2%%

Facilitator Compensation2%%

Sub-Agent Compensation

Compensation Based OnNet Sale Price

Financial Information for 7 Prospect Ave, Greenfield MA 01301

Real Estate Taxes$7,368

Tax Year2022

Assessed Value$341,400

Financial Data SourceOwner

Total Gross Expenses By Broker$27,026

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker$86,100

BostonRealEstate.com Gross Income

Total Net Income By Broker$59,074

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

CAP Rate (BostonRealEstate.com)4.75%

Location Information for 7 Prospect Ave, Greenfield MA 01301

Elementary School

Middle School

High School

Neighborhood(s)

MLS Area

Area AmenitiesWalk/jog Trails, Conservation Area, Highway Access, House Of Worship, Public School, Shopping, Park, Medical Facility, Laundromat, Public Transportation, Tennis Court(s), Private School

Contact Information for 7 Prospect Ave, Greenfield MA 01301

Agent

Name: Deborah Cahillane

Office

Name: Jones Group REALTORS®

Phone: 413-585-0400

Payment Calculator

, Interest

Property Taxes 614

Principal & Interest 4313.18

HOA Dues $0

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Jones Group REALTORS®

Deborah Cahillane

Agent Phone

Office Phone

(413) 585-0400

Text Agent Call Agent Call Office

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EXIT

Closed

7 Prospect Ave, Greenfield MA 01301

$700,000

Annual Expenses for 7 Prospect Ave, Greenfield MA 01301

Annual Income & Unit Breakdown for 7 Prospect Ave, Greenfield MA 01301

General Information for 7 Prospect Ave, Greenfield MA 01301

Disclosures for 7 Prospect Ave, Greenfield MA 01301

Financial Information for 7 Prospect Ave, Greenfield MA 01301

Location Information for 7 Prospect Ave, Greenfield MA 01301

Contact Information for 7 Prospect Ave, Greenfield MA 01301

Agent

Office

Payment Calculator

Exclusive Listing Agent

Jones Group REALTORS®

Deborah Cahillane