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Closed

660-664 Main Street, Melrose MA 02176

$1,850,000

Estimated $4,121.85/month Calculator

Multi Family

Total Units: 7

Price Per Unit: $264,285.71

Total Rent: 66600/year

Estimated CAP Rate: 2.87%

11 Bedrooms

7 Full Baths

4,156 SqFt

Total Parking: 9

9,984 SqFt

ATTENTION INVESTORS AND DEVELOPERS: Prime opportunity in transit-oriented, downtown Melrose - named one of the hottest zip codes in America! Ideally located on Main Street surrounded by shops, restaurants, Starbucks and Cafe Nero, 0.3 mi to the Cedar Park Commuter Rail station, 1.6 mi to the Oak Grove Orange line station, and minutes to beautiful Ell Pond. Seven units in two buildings with flexible floor plans ranging from studios to 2-3 bed layouts. Features include hardwood floors, high ceilings, and large kitchens with gas cooking. 660 Main Street is comprised of 5 units plus an unfinished basement. 662-664 Main Street is the rear building with 2 floor-through units, an unfinished basement and decks. Ample parking with 9-10 off-street surface spaces. BD Zoning district. Sold as-is. Buyer to perform all due diligence.

This home has been viewed 22 times

Last Checked: May 7th, 2024 at 9:01am (Source: MLS PIN #73108300)

Gross Income: $66,600

Gross Expenses: $13,465

Net Income Calc: $53,135

CAP Rate: 2.87%

Annual Expenses for 660-664 Main Street, Melrose MA 02176

Total Gross Expenses (Calculated)$13,465/year

APOD AvailableYes

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax$13,465

Annual Income & Unit Breakdown for 660-664 Main Street, Melrose MA 02176

Total Gross Income (Calculated)$66,600

Unit 1

Rental Income$1,900

LeaseY

Bedrooms1

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingNo

Rent Includes

Unit 2

Rental Income$0

LeaseN

Bedrooms0

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingNo

Rent Includes

Unit 3

Rental Income$1,900

Lease

Bedrooms1

Bathrooms1 Full

Floor2

Levels in Unit1

HeatingNo

Rent Includes

Unit 4

Rental Income$1,750

Lease

Bedrooms1

Bathrooms1 Full

Floor2

Levels in Unit0

HeatingNo

Rent Includes

General Information for 660-664 Main Street, Melrose MA 02176

Listing ID73108300

Property TypeMulti Family / 5+ Family

Price$1,850,000 ($445.14/SqFt)

Style5-9 Family

CityMelrose

CountyMiddlesex

MLS Area

Neighborhood(s)

Approximate Living Area Total4,156 SqFt

Approximate Lot Size (Acres)0.23 acres

Total Parking9

Garage Parking

Year Built1900

Year Built SourcePublic Records

Year Renovated

Year Built DetailsApproximate

Water

Sewer

Electric

Hot Water

Roof Material

Basement

Construction Materials

Lot FeaturesLevel

Foundation Area999

Foundation DescriptionStone

Accessible Features

Outdoor Space

ZoningBD

Zoning Details

Water ViewsNo

Water Views Features

WaterfrontNo

Waterfront Features

Energy Features

Terms

Disclosures for 660-664 Main Street, Melrose MA 02176

Lead Paint

UFFI

Living Area Includes BasementNo

Living Area DisclosureSQFT of both buildings. 660 Main St Fl 1 & 2:

Building Area SourceMeasured

Title 5

Exclusions

Disclosures

Financial Data SourceOther (see Remarks)

Total Gross Expenses By Broker$0

Total Gross Income By Broker$82,500

Total Net Income By Broker$82,500

For Sale By OwnerNo

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation2%%

Facilitator Compensation1%%

Sub-Agent Compensation

Compensation Based OnGross/full Sale Price

Financial Information for 660-664 Main Street, Melrose MA 02176

Real Estate Taxes$13,465

Tax Year2023

Assessed Value$1,292,200

Financial Data SourceOther (see Remarks)

Total Gross Expenses By Broker$0

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker$82,500

BostonRealEstate.com Gross Income

Total Net Income By Broker$82,500

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

CAP Rate (BostonRealEstate.com)2.87%

Location Information for 660-664 Main Street, Melrose MA 02176

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, Bike Path, Public Transportation, T-station, Marina, Private School

Contact Information for 660-664 Main Street, Melrose MA 02176

Agent

Name: The Collective

Office

Name: Compass

Phone: 617-206-3333

Team Members

Name: Loren Larsen

Phone: 617-780-8098

Name: Lara Shuqom

Phone: 678-549-5357

Payment Calculator

, Interest

Property Taxes 1122.08

Principal & Interest 11399.11

HOA Dues $0

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Compass

The Collective

Agent Phone

Office Phone

(617) 206-3333

Text Agent Call Agent Call Office

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[management_expense] => Array
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[middle_school] => 
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[optional_price] => 0
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[owner_occupancy_source] => 
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[pasture_area] => None
    [patio_and_porch] => Array
        (
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[perc_test] => Array
        (
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[perc_test_date] => Unknown
    [pet_policy] => Array
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[road_frontage_type] => Array
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[roof_material] => Array
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[rooms] => 23
    [senior_community] => No
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[sewer_expense] => Array
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[short_sale] => 
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    [state_code] => MA
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    [structure_type] => Array
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[style] => Array
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[subagent_compensation] => 
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                    [zip] => 02446
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[terms] => Array
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[uffi] => Array
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[unit_level] => 
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        )

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[water] => Array
        (
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[water_views_features] => Array
        (
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    [zip] => 02176
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    [zoning_details] => 
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)

EXIT

Closed

660-664 Main Street, Melrose MA 02176

$1,850,000

Annual Expenses for 660-664 Main Street, Melrose MA 02176

Annual Income & Unit Breakdown for 660-664 Main Street, Melrose MA 02176

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