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2-4 Mechanic St, Newton MA 02464

$1,950,000

Estimated $4,411/month Calculator

Multi Family

Total Units: 4

Price Per Unit: $487,500

Total Rent: 148800/year

Estimated CAP Rate:

12 Bedrooms

Baths

4877

Total Parking: 4

4,530 (0.10)

2-4 Mechanic Street offers the opportunity to acquire a fully leased, turnkey investment in an exceptional, urban-infill location at a 6.05% cap rate on current income with rental upside. 2-4 Mechanic Street is a two-story building with four (4), 3-Bedroom/2-Bathroom duplex style units. The building was comprehensively renovated in 2019 and each of the four duplex units features open layout with new kitchens featuring white custom cabinets, granite countertops, and stainless-steel appliances. The units also have hardwood floors, in-unit laundry, new individual HVAC heating systems. The exterior of the Property was alco renovated and has a new roof, new wood siding and new windows. Additionally, there are Four (4) parking spaces at the rear of the property which is accessed through 204-206 Elliot Street (Driveway Easement). The subject property is ideal for a potential buyer looking for income growth and strong investment returns.

This home has been viewed 48 times

Last Checked: May 8th, 2024 at 1:31am (Source: MLS PIN #73195349)

Gross Income: $148,800

Gross Expenses: $14,983

Net Income Calc: $133,817

Annual Expenses for 2-4 Mechanic St, Newton MA 02464

Total Gross Expenses (Calculated)$14,983/year

APOD AvailableYes

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax14983

Annual Income & Unit Breakdown for 2-4 Mechanic St, Newton MA 02464

Total Gross Income (Calculated)$148,800

Unit 1

Rental Income$0

LeaseY

Bedrooms3

Bathrooms2 Full

Floor1

Levels in Unit2

Rent IncludesHeat

Unit 2

Rental Income$0

LeaseY

Bedrooms3

Bathrooms2 Full

Floor2

Levels in Unit2

Rent IncludesHeat

Unit 3

Rental Income$0

LeaseY

Bedrooms3

Bathrooms2 Full

Floor1

Levels in Unit2

Rent IncludesHeat

Unit 4

Rental Income$0

LeaseY

Bedrooms3

Bathrooms2 Full

Floor2

Levels in Unit2

Rent IncludesHeat

General Information for 2-4 Mechanic St, Newton MA 02464

Listing ID73195349

Property TypeMulti Family / 4 Family

Price1950000 ($399.84/SqFt)

Style4 Family

CityNewton

CountyMiddlesex

Neighborhood(s)

Approximate Living Area Total4877

Approximate Lot Size (Acres)0.1

Total Parking4

Garage Parking0

Year Built1850

Year Built SourcePublic Records

Year Built DetailsApproximate

WaterPublic

SewerPublic Sewer

Electric220 Volts

Hot Water

Roof MaterialAsphalt/fiberglass Shingles

Basement

Construction Materials

Lot FeaturesGentle Sloping

Foundation Description

Accessible Features

Outdoor Space

ZoningMR2

Water Views

Water Views Features

Waterfront Features

Terms

Disclosures for 2-4 Mechanic St, Newton MA 02464

Lead Paint

UFFI

Living Area Includes BasementYes

Living Area Disclosure

Building Area SourcePublic Records

ExclusionsWasher/Dryer Negotiable

Financial Data Source

Total Gross Expenses By Broker

Total Gross Income By Broker

Total Net Income By Broker

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation2.5%

Facilitator Compensation0

Compensation Based OnNet Sale Price

Financial Information for 2-4 Mechanic St, Newton MA 02464

Real Estate Taxes14983

Tax Year2024

Assessed Value$1,519,900

Financial Data Source

Total Gross Expenses By Broker

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker

BostonRealEstate.com Gross Income

Total Net Income By Broker

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

Location Information for 2-4 Mechanic St, Newton MA 02464

Neighborhood(s)

Area AmenitiesWalk/jog Trails

Contact Information for 2-4 Mechanic St, Newton MA 02464

Agent

Name: John Pentore

Office

Name: Horvath & Tremblay

Phone: 781-776-4000

Payment Calculator

, Interest

Property Taxes 1248.58

Principal & Interest 12015.28

HOA Dues

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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EXIT

13 More Photos

Closed

2-4 Mechanic St, Newton MA 02464

$1,950,000

Annual Expenses for 2-4 Mechanic St, Newton MA 02464

Annual Income & Unit Breakdown for 2-4 Mechanic St, Newton MA 02464

General Information for 2-4 Mechanic St, Newton MA 02464

Disclosures for 2-4 Mechanic St, Newton MA 02464

Financial Information for 2-4 Mechanic St, Newton MA 02464

Location Information for 2-4 Mechanic St, Newton MA 02464

Contact Information for 2-4 Mechanic St, Newton MA 02464

Agent

Office

Payment Calculator

Exclusive Listing Agent

Horvath & Tremblay

John Pentore