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Closed

Two Granite Street, Malden MA 02148

$1,650,000

Estimated $3,577.73/month Calculator

Multi Family

Total Units: 7

Price Per Unit: $235,714.29

Total Rent: 39600/year

Estimated CAP Rate: 1.74%

7 Bedrooms

7 Full Baths

4,208 SqFt

Total Parking: 0

3,136 SqFt

2 Granite Street offers the opportunity to acquire a well-maintained, fully leased investment Property in an incredible, high-density, urban-infill location at a 6.54% cap rate on current income with below market rents. 2 Granite consists of a desirable, three-story building containing a total of seven residential units. Capital improvements include a brand-new electrical service to the entire building, newer roof and vinyl siding as well as lead paint compliance certificates for all units. Additionally, five of the seven units and the common areas have been renovated; however, the incoming owner can add value through programmatic upgrades to the two unrenovated units, allowing the Property to achieve market rents and increased revenues. The location is 1.2-miles from Downtown Malden and Downtown Malden’s area shopping. Additionally, the Oak Grove Transit Station and Malden Center Transit Station with service on the Orange Line as well as the MBTA Commuter Rail are 1.6 miles away.

This home has been viewed 25 times

Last Checked: May 7th, 2024 at 9:01am (Source: MLS PIN #73076169)

Gross Income: $39,600

Gross Expenses: $10,827

Net Income Calc: $28,773

CAP Rate: 1.74%

Annual Expenses for Two Granite Street, Malden MA 02148

Total Gross Expenses (Calculated)$10,827/year

APOD AvailableNo

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax$10,827.16

Annual Income & Unit Breakdown for Two Granite Street, Malden MA 02148

Total Gross Income (Calculated)$39,600

Unit 1

Rental Income$1,600

LeaseY

Bedrooms1

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingNo

Rent Includes

Unit 2

Rental Income$1,700

LeaseY

Bedrooms1

Bathrooms1 Full

Floor1

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 Two Granite Street, Malden MA 02148

Listing ID73076169

Property TypeMulti Family / 5+ Family

Price$1,650,000 ($392.11/SqFt)

Style5-9 Family

CityMalden

CountyMiddlesex

MLS Area

Neighborhood(s)

Approximate Living Area Total4,208 SqFt

Approximate Lot Size (Acres)0.07 acres

Total Parking0

Garage Parking

Year Built1911

Year Built SourcePublic Records

Year Renovated

Year Built DetailsApproximate

Water

Sewer

Electric

Hot Water

Roof Material

Basement

Construction Materials

Lot FeaturesCorner Lot

Foundation Area

Foundation DescriptionStone,Brick/Mortar

Accessible Features

Outdoor Space

ZoningResA

Zoning Details

Water Views

Water Views Features

WaterfrontNo

Waterfront Features

Energy Features

Terms

Disclosures for Two Granite Street, Malden MA 02148

Lead Paint

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

Title 5

Exclusions

Disclosures

Financial Data SourceEstimated, Owner

Total Gross Expenses By Broker$35,553

Total Gross Income By Broker$143,400

Total Net Income By Broker$107,847

For Sale By OwnerNo

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation2%%

Facilitator Compensation

Sub-Agent Compensation

Compensation Based OnGross/full Sale Price

Financial Information for Two Granite Street, Malden MA 02148

Real Estate Taxes$10,827.16

Tax Year2023

Assessed Value$888,200

Financial Data SourceEstimated, Owner

Total Gross Expenses By Broker$35,553

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker$143,400

BostonRealEstate.com Gross Income

Total Net Income By Broker$107,847

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

CAP Rate (BostonRealEstate.com)1.74%

Location Information for Two Granite Street, Malden MA 02148

Elementary School

Middle School

High School

Neighborhood(s)

MLS Area

Area AmenitiesHighway Access, Public School, Shopping, Park, Public Transportation, T-station, Other

Contact Information for Two Granite Street, Malden MA 02148

Agent

Name: John Pentore

Office

Name: Horvath & Tremblay

Phone: 781-776-4000

Team Members

Name: Dennis Kelleher

Phone: 781-776-4002

Payment Calculator

, Interest

Property Taxes 902.26

Principal & Interest 10166.78

HOA Dues $0

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Horvath & Tremblay

John Pentore

Agent Phone

Office Phone

(781) 776-4000

Text Agent Call Agent Call Office

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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
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    [senior_community] => No
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[short_sale] => 
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[style] => Array
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[terms] => Array
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[unit_4_levels] => 
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        )

[utilities] => Array
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[water] => Array
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[water_expense] => Array
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[water_views] => Array
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[water_views_features] => Array
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    [waterfront_features] => Array
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EXIT

Closed

Two Granite Street, Malden MA 02148

$1,650,000

Annual Expenses for Two Granite Street, Malden MA 02148

Annual Income & Unit Breakdown for Two Granite Street, Malden MA 02148

General Information for Two Granite Street, Malden MA 02148

Disclosures for Two Granite Street, Malden MA 02148

Financial Information for Two Granite Street, Malden MA 02148

Location Information for Two Granite Street, Malden MA 02148

Contact Information for Two Granite Street, Malden MA 02148

Agent

Office

Team Members

Payment Calculator

Exclusive Listing Agent

Horvath & Tremblay

John Pentore