One in a Million Investment Opportunity! RARE! 5 oversized apartments, nicely updated, with separate utilities, coin operated laundry area, plenty of off street parking & only .8 of 1 mile to town center Andover at the intersection of Elm St & Main St. NEEDED: Hardworking, smart buyer who recognizes opportunity, can live here, and manage 1st investment property, or seasoned investor looking to add a winner to investment portfolio. Property may have potential for condo conversion in the future. Replacement windows, vinyl sided exterior, roof replaced in 2018. Pictures in listing photos are of vacant unit #5. 4 out of the 5 units are in similar condition to the interior pictures shown here. Unit #3 is the unit needing the most updating. Pretty treed backyard, located next door to 20 acres of walking trails in the Carmel Woods Reservation. Floor plans, additional information sheet including income/expenses, & GIS maps, are available in mls under paperclip. EXCITING OPPORTUNITY!
This home has been viewed 21 times
Last Checked: May 7th, 2024 at 6:50am (Source: MLS PIN #73100669)
Gross Income: $67,200
Gross Expenses: $34,116
Net Income Calc: $33,084
CAP Rate: 1.95%
Annual Expenses for 80 Carmel Road, Andover MA 01810
Total Gross Expenses (Calculated)$34,116/year
APOD AvailableYes
Heating
Electricity
Water$1,600
Gas$1,600
Insurance$9,000
Sewer$1,600
Trash Removal$2,100
Repair & Maintenance
Management
Miscellaneous
Real Estate Tax$21,416
Annual Income & Unit Breakdown for 80 Carmel Road, Andover MA 01810
Total Gross Income (Calculated)$67,200
Unit 1
Rental Income$0
LeaseN
Bedrooms2
Bathrooms1 Full
Floor1
Levels in Unit1
HeatingYes
Rent Includes
Unit 2
Rental Income$2,400
LeaseN
Bedrooms3
Bathrooms1 Full
Floor3
Levels in Unit1
HeatingYes
Rent Includes
Unit 3
Rental Income$0
LeaseN
Bedrooms3
Bathrooms1 Full, 5 Half
Floor2
Levels in Unit1
HeatingYes
Rent Includes
Unit 4
Rental Income$3,200
LeaseN
Bedrooms4
Bathrooms2 Full
Floor5
Levels in Unit1
HeatingYes
Rent Includes
General Information for 80 Carmel Road, Andover MA 01810
Listing ID73100669
Property TypeMulti Family / 5+ Family
Price$1,699,000 ($186.52/SqFt)
Style5-9 Family
CityAndover
CountyEssex
MLS AreaIn Town
Neighborhood(s)
Approximate Living Area Total9,109 SqFt
Approximate Lot Size (Acres)0.69 acres
Total Parking8
Garage Parking
Year Built1920
Year Built SourcePublic Records
Year Renovated
Year Built DetailsApproximate,Renovated Since
Water
Sewer
Electric
Hot Water
Roof Material
Basement
Construction MaterialsFrame
Lot FeaturesWooded
Foundation Area
Foundation DescriptionStone
Accessible Features
Outdoor Space
ZoningSRB
Zoning Details
Water ViewsNo
Water Views Features
WaterfrontNo
Waterfront Features
Energy Features
Terms
Disclosures for 80 Carmel Road, Andover MA 01810
Lead Paint
UFFI
Living Area Includes BasementYes
Living Area DisclosureEntire property was recently measured by Professio
Building Area SourcePublic Records
Title 5
Exclusions
Disclosures
Financial Data Source
Total Gross Expenses By Broker$36,464
Total Gross Income By Broker$67,200
Total Net Income By Broker$67,200
For Sale By OwnerNo
Short Sale / Forclosure (Bank Owned)
Buyer Agent Compensation2.5
Facilitator Compensation
Sub-Agent Compensation
Compensation Based OnNet Sale Price
Financial Information for 80 Carmel Road, Andover MA 01810
Real Estate Taxes$21,416
Tax Year2023
Assessed Value$1,567,800
Financial Data Source
Total Gross Expenses By Broker$36,464
BostonRealEstate.com Gross Expenses
Total Gross Income By Broker$67,200
BostonRealEstate.com Gross Income
Total Net Income By Broker$67,200
BostonRealEstate.com Gross NOI
CAP Rate (based on Broker info)
CAP Rate (BostonRealEstate.com)1.95%
Location Information for 80 Carmel Road, Andover MA 01810
Elementary SchoolBancroft
Middle SchoolDoherty
High SchoolA.H.S.
Neighborhood(s)
MLS AreaIn Town
Area AmenitiesWalk/jog Trails, Public School, Shopping, Public Transportation, T-station, Private School
Contact Information for 80 Carmel Road, Andover MA 01810