Immaculate North End Boston, Five Unit Multi Family, with potential to convert to Sixth Unit. Golden Opportunity to own a family owned, multi-family brick building in one of Boston's most iconic locations, the North End. Current rents below market value. Potential for Value Add unit or 1031 Exchange. Convert third floor larger unit back to 2 units, totaling 6 units. (1)One Bedroom, One bath with Courtyard Outdoor Space; (2) Three Bedrooms, One Bath; (2) 1 Bedroom plus Bonus Room, One Bath. Current Rent Roll is $160,000/year. Unit 4R is currently below market, Projected rent - $2100/month. A solid investment for rental income or potential opportunity for a condo conversion. Fully Leased through August 2023.
This home has been viewed 19 times
Last Checked: May 7th, 2024 at 7:26am (Source: MLS PIN #73060461)
Gross Income: $40,800
Gross Expenses: $14,961
Net Income Calc: $25,839
CAP Rate: 0.76%
Annual Expenses for 56 N Margin St, Boston MA 02113
Total Gross Expenses (Calculated)$14,961/year
APOD AvailableYes
Heating
Electricity
Water
Gas
Insurance
Sewer
Trash Removal
Repair & Maintenance
Management
Miscellaneous
Real Estate Tax$14,961
Annual Income & Unit Breakdown for 56 N Margin St, Boston MA 02113
Total Gross Income (Calculated)$40,800
Unit 1
Rental Income$0
LeaseN
Bedrooms1
Bathrooms1 Full
Floor1
Levels in Unit0
HeatingNo
Rent Includes
Unit 2
Rental Income$3,400
LeaseY
Bedrooms3
Bathrooms1 Full
Floor2
Levels in Unit1
HeatingNo
Rent Includes
Unit 3
Rental Income$0
Lease
Bedrooms
Bathrooms
Floor
Levels in Unit
HeatingNo
Rent Includes
Unit 4
Rental Income$0
Lease
Bedrooms
Bathrooms
Floor
Levels in Unit
HeatingNo
Rent Includes
General Information for 56 N Margin St, Boston MA 02113
Listing ID73060461
Property TypeMulti Family
Price$3,399,999 ($899.47/SqFt)
Style5+ Family - 5+ Units Side By Side
CityBoston
CountySuffolk
MLS AreaNorth End
Neighborhood(s)
Approximate Living Area Total3,780 SqFt
Approximate Lot Size (Acres)0.03 acres
Total Parking0
Garage Parking
Year Built1910
Year Built SourcePublic Records
Year Renovated
Year Built DetailsActual
Water
Sewer
Electric
Hot Water
Roof Material
Basement
Construction Materials
Lot FeaturesLevel, Other
Foundation Area
Foundation DescriptionOther
Accessible Features
Outdoor Space
ZoningR4
Zoning Details
Water Views
Water Views Features
WaterfrontNo
Waterfront Features
Energy Features
Terms
Disclosures for 56 N Margin St, Boston MA 02113
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$125,400
Total Net Income By Broker$40,800
For Sale By OwnerNo
Short Sale / Forclosure (Bank Owned)
Buyer Agent Compensation1.5
Facilitator Compensation
Sub-Agent Compensation
Compensation Based OnGross/full Sale Price
Financial Information for 56 N Margin St, Boston MA 02113
Real Estate Taxes$14,961
Tax Year2022
Assessed Value$1,375,100
Financial Data Source
Total Gross Expenses By Broker$0
BostonRealEstate.com Gross Expenses
Total Gross Income By Broker$125,400
BostonRealEstate.com Gross Income
Total Net Income By Broker$40,800
BostonRealEstate.com Gross NOI
CAP Rate (based on Broker info)
CAP Rate (BostonRealEstate.com)0.76%
Location Information for 56 N Margin St, Boston MA 02113
Elementary School
Middle School
High School
Neighborhood(s)
MLS AreaNorth End
Area Amenities
Contact Information for 56 N Margin St, Boston MA 02113