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Closed

989 Lakeview Ave, Lowell MA 01850

$659,900

Estimated $1,621.69/month Calculator

Multi Family

Total Units: 4

Price Per Unit: $164,975

Total Rent: 35400/year

Estimated CAP Rate: 3.99%

4 Bedrooms

4 Full Baths

3,040 SqFt

Total Parking: 6 (2 Garage)

5,996 SqFt

Check out this well maintained four family on the Dracut line near the university. One-bedroom units, hardwood floors, gas heat, all separate utilities, with room for expansion in attic. Two car garage with off street parking. Many improvements include new gas fired heating in units 3 and 4, new roof in 2012, new boilers in 2015, renovated bathrooms in 2020, house painted in 2020, plus much, much more. Look to documents to get a list of recent improvements. Coin op laundry in basement. Rents under market with long term tenants, units 1 and 2 are TAW, unit 3 is vacant, unit 4 under lease until end of January 2024.

This home has been viewed 36 times

Last Checked: May 7th, 2024 at 5:21am (Source: MLS PIN #73087238)

Gross Income: $35,400

Gross Expenses: $9,080

Net Income Calc: $26,320

CAP Rate: 3.99%

Annual Expenses for 989 Lakeview Ave, Lowell MA 01850

Total Gross Expenses (Calculated)$9,080/year

APOD AvailableYes

Heating

Electricity$360

Water$1,500

Gas$1,500

Insurance

Sewer$1,500

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax$6,620

Annual Income & Unit Breakdown for 989 Lakeview Ave, Lowell MA 01850

Total Gross Income (Calculated)$35,400

Unit 1

Rental Income$1,000

LeaseN

Bedrooms1

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingYes

Rent Includes

Unit 2

Rental Income$975

LeaseN

Bedrooms1

Bathrooms1 Full

Floor2

Levels in Unit1

HeatingYes

Rent Includes

Unit 3

Rental Income$0

LeaseN

Bedrooms1

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingYes

Rent Includes

Unit 4

Rental Income$975

Lease

Bedrooms1

Bathrooms1 Full

Floor2

Levels in Unit1

HeatingYes

Rent Includes

General Information for 989 Lakeview Ave, Lowell MA 01850

Listing ID73087238

Property TypeMulti Family / 4 Family

Price$659,900 ($217.07/SqFt)

Style4 Family

CityLowell

CountyMiddlesex

MLS Area

Neighborhood(s)

Approximate Living Area Total3,040 SqFt

Approximate Lot Size (Acres)0.14 acres

Total Parking6 (2 Garage)

Garage Parking2 / Detached

Year Built1870

Year Built SourcePublic Records

Year Renovated

Year Built DetailsApproximate

Water

Sewer

Electric

Hot Water

Roof Material

Basement

Construction MaterialsFrame

Lot FeaturesLevel, Corner Lot

Foundation Area

Foundation DescriptionStone,Granite

Accessible Features

Outdoor Space

ZoningTTF

Zoning Details

Water ViewsNo

Water Views Features

WaterfrontNo

Waterfront Features

Energy Features

Terms

Disclosures for 989 Lakeview Ave, Lowell MA 01850

Lead Paint

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

Title 5

Exclusions

Disclosures

Financial Data SourceOwner

Total Gross Expenses By Broker$9,260

Total Gross Income By Broker$47,820

Total Net Income By Broker$38,560

For Sale By OwnerNo

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation2.0

Facilitator Compensation2.0

Sub-Agent Compensation

Compensation Based OnNet Sale Price

Financial Information for 989 Lakeview Ave, Lowell MA 01850

Real Estate Taxes$6,620

Tax Year2022

Assessed Value$521,700

Financial Data SourceOwner

Total Gross Expenses By Broker$9,260

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker$47,820

BostonRealEstate.com Gross Income

Total Net Income By Broker$38,560

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

CAP Rate (BostonRealEstate.com)3.99%

Location Information for 989 Lakeview Ave, Lowell MA 01850

Elementary School

Middle School

High School

Neighborhood(s)

MLS Area

Area AmenitiesPublic Transportation, University

Contact Information for 989 Lakeview Ave, Lowell MA 01850

Agent

Name: Tom Courtney

Office

Name: LAER Realty Partners

Phone: 978-692-9292

Team Members

Payment Calculator

, Interest

Property Taxes 551.67

Principal & Interest 4066.09

HOA Dues $0

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

LAER Realty Partners

Tom Courtney

Agent Phone

Office Phone

(978) 692-9292

Text Agent Call Agent Call Office

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EXIT

Closed

989 Lakeview Ave, Lowell MA 01850

$659,900

Annual Expenses for 989 Lakeview Ave, Lowell MA 01850

Annual Income & Unit Breakdown for 989 Lakeview Ave, Lowell MA 01850

General Information for 989 Lakeview Ave, Lowell MA 01850

Disclosures for 989 Lakeview Ave, Lowell MA 01850

Financial Information for 989 Lakeview Ave, Lowell MA 01850

Location Information for 989 Lakeview Ave, Lowell MA 01850

Contact Information for 989 Lakeview Ave, Lowell MA 01850

Agent

Office

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Tom Courtney