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Closed

276-280 Lebanon St, Melrose MA 02176

$899,999

Estimated $2,083.34/month Calculator

Multi Family

Total Units: 2

Price Per Unit: $449,999.50

Total Rent: 69600/year

Estimated CAP Rate: 6.90%

6 Bedrooms

3 Full Baths

2,369 SqFt

Total Parking: 7 (2 Garage)

7,810 SqFt

Exceptional investment opportunity in an ever popular Melrose Location! Walking distance to Pine Banks, train stations and bustling downtown Melrose. Interiors were renovated in 2018: unit 1 features 2 bedrooms, 1 full bathroom and new kitchen with laundry in unit - unit 2 expanding floors 2 and 3, features 4 bedrooms, 2 full bathrooms and new kitchen with laundry in unit. Nice size lot with plenty of off street parking and two garage spots complete this incredible investment property. Less than a mile to Commuter rail - Wyoming Hill and Oak Grove Train station! Separate utilities for each unit. Fully rented this property will collect nearly $70,000 in annual rent or owner occupant can live in one unit and rent another. Two bedroom unit was rented for $2300 and Four bedroom unit was rented for $3500 - Property is vacant and easy to show!

This home has been viewed 22 times

Last Checked: May 7th, 2024 at 5:56am (Source: MLS PIN #73083750)

Gross Income: $69,600

Gross Expenses: $7,488

Net Income Calc: $62,112

CAP Rate: 6.90%

Annual Expenses for 276-280 Lebanon St, Melrose MA 02176

Total Gross Expenses (Calculated)$7,488/year

APOD AvailableNo

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax$7,488

Annual Income & Unit Breakdown for 276-280 Lebanon St, Melrose MA 02176

Total Gross Income (Calculated)$69,600

Unit 1

Rental Income$2,300

LeaseN

Bedrooms2

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingYes

Rent IncludesUnit 1(water), Unit 2(water)

Unit 2

Rental Income$3,500

LeaseN

Bedrooms4

Bathrooms2 Full

Floor2

Levels in Unit2

HeatingYes

Rent IncludesUnit 1(water), Unit 2(water)

General Information for 276-280 Lebanon St, Melrose MA 02176

Listing ID73083750

Property TypeMulti Family / 2 Family

Price$899,999 ($379.91/SqFt)

Style2 Family - 2 Units Up/down

CityMelrose

CountyMiddlesex

MLS Area

Neighborhood(s)

Approximate Living Area Total2,369 SqFt

Approximate Lot Size (Acres)0.18 acres

Total Parking7 (2 Garage)

Garage Parking2 / Detached

Year Built1923

Year Built SourcePublic Records

Year Renovated

Year Built DetailsActual

Water

Sewer

Electric

Hot Water

Roof Material

Basement

Construction Materials

Lot Features

Foundation Area

Foundation DescriptionBlock

Accessible Features

Outdoor Space

ZoningURB

Zoning Details

Water Views

Water Views Features

WaterfrontNo

Waterfront Features

Energy Features

Terms

Disclosures for 276-280 Lebanon St, Melrose MA 02176

Lead Paint

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

Title 5

Exclusions

Disclosures

Financial Data Source

Total Gross Expenses By Broker$0

Total Gross Income By Broker$69,612

Total Net Income By Broker$69,612

For Sale By OwnerNo

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation2%%

Facilitator Compensation0%%

Sub-Agent Compensation

Compensation Based OnNet Sale Price

Financial Information for 276-280 Lebanon St, Melrose MA 02176

Real Estate Taxes$7,488

Tax Year2023

Assessed Value$718,600

Financial Data Source

Total Gross Expenses By Broker$0

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker$69,612

BostonRealEstate.com Gross Income

Total Net Income By Broker$69,612

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

CAP Rate (BostonRealEstate.com)6.90%

Location Information for 276-280 Lebanon St, Melrose MA 02176

Elementary School

Middle School

High School

Neighborhood(s)

MLS Area

Area AmenitiesWalk/jog Trails, Highway Access, Public School, Shopping, Park, Medical Facility, Public Transportation, T-station

Contact Information for 276-280 Lebanon St, Melrose MA 02176

Agent

Name: Jacqui Webb

Office

Name: Berkshire Hathaway HomeServices Warren Residential

Phone: 617-848-9616

Payment Calculator

, Interest

Property Taxes 624

Principal & Interest 5545.51

HOA Dues $0

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Berkshire Hathaway HomeServices Warren Residential

Jacqui Webb

Agent Phone

Office Phone

(617) 848-9616

Text Agent Call Agent Call Office

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                    [index] => 20
                    [enabled] => 1
                    [created] => 2024-05-07 05:56:22
                    [modified] => 2024-05-07 05:56:22
                )

[20] => Array
                (
                    [id] => 7392709
                    [name] => MLS21.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73083750&w=1024&h=768&n=21
                    [index] => 21
                    [enabled] => 1
                    [created] => 2024-05-07 05:56:22
                    [modified] => 2024-05-07 05:56:22
                )

[21] => Array
                (
                    [id] => 7392710
                    [name] => MLS22.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73083750&w=1024&h=768&n=22
                    [index] => 22
                    [enabled] => 1
                    [created] => 2024-05-07 05:56:22
                    [modified] => 2024-05-07 05:56:22
                )

[22] => Array
                (
                    [id] => 7392711
                    [name] => MLS23.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73083750&w=1024&h=768&n=23
                    [index] => 23
                    [enabled] => 1
                    [created] => 2024-05-07 05:56:22
                    [modified] => 2024-05-07 05:56:22
                )

[23] => Array
                (
                    [id] => 7392712
                    [name] => MLS24.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73083750&w=1024&h=768&n=24
                    [index] => 24
                    [enabled] => 1
                    [created] => 2024-05-07 05:56:22
                    [modified] => 2024-05-07 05:56:22
                )

[24] => Array
                (
                    [id] => 7392713
                    [name] => MLS25.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73083750&w=1024&h=768&n=25
                    [index] => 25
                    [enabled] => 1
                    [created] => 2024-05-07 05:56:22
                    [modified] => 2024-05-07 05:56:22
                )

[25] => Array
                (
                    [id] => 7392714
                    [name] => MLS26.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73083750&w=1024&h=768&n=26
                    [index] => 26
                    [enabled] => 1
                    [created] => 2024-05-07 05:56:22
                    [modified] => 2024-05-07 05:56:22
                )

)

)

EXIT