Overview Property Details Payment Calculator Walkability

Add to favorites

Remove from favorites
Send to Friend
Watch changes on this property

Closed

416 Crescent Ave, Chelsea MA 02150

$574,900

Estimated $1,647.03/month Calculator

Multi Family

Total Units: 2

Price Per Unit: $287,450

Total Rent: 56400/year

Estimated CAP Rate: 8.32%

2 Bedrooms

2 Full Baths

1,771 SqFt

Total Parking: 0

1,411 SqFt

Investors take notice. Numbers work on this one. Mixed-use 2-fam. Property has been gone through and rents and zoning have been stabilized, open permits closed, all liens paid and all bills now current. Ready for new owner. Commercial space downstairs is successful, large take-out restaurant/convenience store. Current rent is $2100 with a long term lease that goes up to $2800. Central AC and lots of storage in basement. Upstairs rental is leased for $2600. Rental unit is a fully gutted 2-bed, gorgeous new kitchen with stainless appliances and granite counters, new bath, flooring, windows, sheetrock, heating, recessed lights, paint. Laundry for upstairs unit included. Both tenants pay all of their own utilities. Current gross rent is $56,400/yr and scheduled to increase to $64,800/yr+ The numbers make sense on this one, fully turn-key and the best deal in town.

This home has been viewed 27 times

Last Checked: May 8th, 2024 at 1:36am (Source: MLS PIN #73134695)

Gross Income: $56,400

Gross Expenses: $8,577

Net Income Calc: $47,823

CAP Rate: 8.32%

Annual Expenses for 416 Crescent Ave, Chelsea MA 02150

Total Gross Expenses (Calculated)$8,577/year

APOD AvailableNo

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax$8,577.96

Annual Income & Unit Breakdown for 416 Crescent Ave, Chelsea MA 02150

Total Gross Income (Calculated)$56,400

Unit 1

Rental Income$2,100

LeaseY

Bedrooms0

Bathrooms1 Half

Floor1

Levels in Unit1

HeatingNo

Rent Includes

Unit 2

Rental Income$2,600

LeaseY

Bedrooms2

Bathrooms1 Full

Floor2

Levels in Unit1

HeatingNo

Rent Includes

General Information for 416 Crescent Ave, Chelsea MA 02150

Listing ID73134695

Property TypeMulti Family

Price$574,900 ($324.62/SqFt)

StyleMulti Family

CityChelsea

CountySuffolk

MLS Area

Neighborhood(s)

Approximate Living Area Total1,771 SqFt

Approximate Lot Size (Acres)0.03 acres

Total Parking0

Garage Parking

Year Built1900

Year Built SourcePublic Records

Year Renovated

Year Built DetailsActual

Water

Sewer

Electric

Hot Water

Roof Material

Basement

Construction Materials

Lot FeaturesCorner Lot

Foundation Area

Foundation DescriptionOther

Accessible Features

Outdoor Space

ZoningR-2

Zoning Details

Water Views

Water Views Features

WaterfrontNo

Waterfront Features

Energy Features

Terms

Disclosures for 416 Crescent Ave, Chelsea MA 02150

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$56,400

Total Net Income By Broker$56,400

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 416 Crescent Ave, Chelsea MA 02150

Real Estate Taxes$8,577.96

Tax Year2023

Assessed Value$415,800

Financial Data Source

Total Gross Expenses By Broker$0

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker$56,400

BostonRealEstate.com Gross Income

Total Net Income By Broker$56,400

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

CAP Rate (BostonRealEstate.com)8.32%

Location Information for 416 Crescent Ave, Chelsea MA 02150

Elementary School

Middle School

High School

Neighborhood(s)

MLS Area

Area Amenities

Contact Information for 416 Crescent Ave, Chelsea MA 02150

Agent

Name: David Gradus

Office

Name: Boston Realty Consultants, Inc

Phone: 617-538-3530

Team Members

Payment Calculator

, Interest

Property Taxes 714.83

Principal & Interest 3542.35

HOA Dues $0

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Boston Realty Consultants, Inc

David Gradus

Agent Phone

Office Phone

(617) 538-3530

Text Agent Call Agent Call Office

Array
(
    [acres] => Approx. 0.03 acres (1,411 SqFt)
    [add_date] => 2024-05-08 01:36:06
    [address] => Crescent Ave
    [agent] => Array
        (
            [address] => 19 Edgemere Road
            [city] => Marblehead
            [id] => BB807966
            [name] => David Gradus
            [national_association] => 
            [office] => AN8973
            [state] => MA
            [zip] => 01945
        )

[apod_available] => Array
        (
            [0] => No
        )

[appliances] => Array
        (
        )

[approx_living_area_total] => 1,771 SqFt
    [approx_lot_size_acres] => 0.03 acres
    [approx_lot_size_sqft] => 1,411 SqFt
    [assessed_value] => $415,800
    [association] => No
    [association_fee] => Array
        (
            [0] => $0
        )

[association_fee_frequency] => Array
        (
        )

[association_fee_includes] => Array
        (
        )

[association_required] => Array
        (
        )

[available_date] => 
    [available_now] => Yes
    [basement] => Array
        (
        )

[bathrooms] => 2 Full
    [bedrooms] => 2
    [building_amenities] => Array
        (
        )

[building_area_source] => Array
        (
            [0] => Public Records
        )

[building_management] => Array
        (
        )

[building_debug] => 416 Crescent Ave Chelsea
    [building_id] => 
    [building_name] => 
    [building_name_from_address] => 
    [building_url] => 
    [buyer_agent_compensation] => 2
    [buyer_agent_id] => CN229744
    [buyer_office_id] => AN5363
    [c_style] => Array
        (
        )

[c_type] => Multi Family
    [cap_rate] => 8.32%
    [city] => Chelsea
    [community_features] => Array
        (
        )

[compensation_based_on] => Array
        (
            [0] => Gross/full Sale Price
        )

[complex_complete] => Array
        (
        )

[construction_materials] => Array
        (
        )

[construction_status] => 
    [cooling] => No
    [cooperating_agent_commission] => Array
        (
        )

[county] => Suffolk
    [cultivation_acres] => None
    [date_available_note] => 
    [deposit_amount] => Array
        (
            [0] => $0
        )

[deposit_required] => Array
        (
        )

[deqe] => 
    [description] => Investors take notice. Numbers work on this one. Mixed-use 2-fam. Property has been gone through and rents and zoning have been stabilized, open permits closed, all liens paid and all bills now current. Ready for new owner. Commercial space downstairs is successful, large take-out restaurant/convenience store. Current rent is $2100 with a long term lease that goes up to $2800. Central AC and lots of storage in basement. Upstairs rental is leased for $2600. Rental unit is a fully gutted 2-bed, gorgeous new kitchen with stainless appliances and granite counters, new bath, flooring, windows, sheetrock, heating, recessed lights, paint. Laundry for upstairs unit included. Both tenants pay all of their own utilities. Current gross rent is $56,400/yr and scheduled to increase to $64,800/yr+  The numbers make sense on this one, fully turn-key and the best deal in town.
    [disclosures] => 
    [documents_available] => Array
        (
        )

[electric] => Array
        (
        )

[electric_expense] => Array
        (
            [0] => $0
        )

[elementary_school] => 
    [en_suite_bath] => Array
        (
            [0] => Yes
        )

[energy_features] => Array
        (
        )

[entry_level] => Array
        (
        )

[estimated_monthly_payment] => 
    [exclusions] => Array
        (
        )

[exterior_features] => Array
        (
        )

[facilitator_compensation] => 1
    [fee_paid_by_tennant] => Contact Agent
    [financial_data_source] => Array
        (
        )

[fireplaces] => Array
        (
            [0] => 0
        )

[first_month_required] => Array
        (
        )

[floor_number] => 0
    [flooring] => Array
        (
        )

[for_sale_by_owner] => No
    [foundation_area] => 
    [foundation_materials] => Array
        (
            [0] => Other
        )

[frontage_length] => 
    [full_baths] => 2
    [garage_parking] => 
    [gas] => Array
        (
        )

[gas_expense] => Array
        (
            [0] => $0
        )

[gross_income] => Array
        (
            [0] => $56,400
        )

[half_baths] => 0
    [handicap_access] => No
    [heating] => No
    [heating_expense] => Array
        (
            [0] => $0
        )

[high_school] => 
    [horse_features] => Array
        (
        )

[horse_permitted] => No
    [hot_water] => Array
        (
        )

[id] => 374509
    [insurance_expense] => Array
        (
            [0] => $0
        )

[insurance_required] => Array
        (
        )

[interior_features] => Array
        (
        )

[last_month_required] => Array
        (
        )

[last_sync_date] => 2024-05-08 01:36:06
    [laundry_features] => Array
        (
        )

[lead_paint] => Array
        (
        )

[lease_term] => 
    [levels_in_unit] => 1
    [living_area] => 1,771 Sq. Ft.
    [living_area_disclosure] => Array
        (
        )

[living_area_includes_basement] => Array
        (
            [0] => No
        )

[lot_features] => Array
        (
            [0] => Corner Lot
        )

[management_expense] => Array
        (
            [0] => $0
        )

[middle_school] => 
    [miscellaneuos_expense] => Array
        (
            [0] => $0
        )

[mls_area] => 
    [mls_id] => 73134695
    [neighborhoods] => Array
        (
        )

[net_income_calc] => 47823
    [net_operating_income] => Array
        (
            [0] => $56,400
        )

[number_of_lots] => Array
        (
        )

[number_of_units] => 2
    [office] => Array
        (
            [id] => NB2636
            [name] => Boston Realty Consultants, Inc
            [phone] => 617-538-3530
        )

[operating_expense] => Array
        (
            [0] => $0
        )

[optional_fee_includes] => Array
        (
        )

[optional_price] => 0
    [outdoor_space_available] => Array
        (
        )

[owner_occupancy_source] => 
    [parking_features] => Array
        (
        )

[pasture_area] => None
    [patio_and_porch] => Array
        (
        )

[perc_test] => Array
        (
        )

[perc_test_date] => Unknown
    [pet_policy] => Array
        (
        )

[phone] => 617-733-8717
    [pool_features] => Array
        (
        )

[price] => $574,900
    [price_per_sqft] => 324.62
    [price_per_unit] => 287450
    [private_pool] => No
    [property_sub_type] => Array
        (
            [0] => Multi Family
        )

[real_estate_tax] => $8,577.96
    [references_required] => Array
        (
        )

[rent_includes] => Array
        (
        )

[repair_maintenance_expense] => Array
        (
            [0] => $0
        )

[road_frontage_type] => Array
        (
        )

[roof_material] => Array
        (
        )

[rooms] => 6
    [senior_community] => No
    [sewer] => Array
        (
        )

[sewer_expense] => Array
        (
            [0] => $0
        )

[short_sale] => 
    [special_listing_conditions] => Array
        (
        )

[state] => Massachusetts
    [state_code] => MA
    [status] => Array
        (
            [0] => Closed
        )

[street_number] => 416
    [structure_type] => Array
        (
        )

[style] => Array
        (
        )

[subagent_compensation] => 
    [tag_accessible_features] => 
    [tag_air_conditioning] => 
    [tag_association_pool] => 
    [tag_beach_access] => 
    [tag_beach_front] => 
    [tag_elevator] => 
    [tag_equestrian] => 
    [tag_garage_parking] => 
    [tag_generator] => 
    [tag_green_features] => 
    [tag_laundry] => 
    [tag_lead_paint_free] => 
    [tag_loft] => 
    [tag_pet_friendly] => 
    [tag_pre_construction] => 
    [tag_private_outdoor_space] => 
    [tag_private_pool] => 
    [tag_professional_management] => 
    [tag_recently_renovated] => 
    [tag_senior_community] => 
    [tag_townhouse] => 
    [tag_waterfront] => 
    [tag_waterview] => 
    [tax_year] => 2023
    [team] => Array
        (
            [0] => Array
                (
                    [id] => BB807966
                    [name] => David Gradus
                    [phone] => 617-733-8717
                    [address] => 19 Edgemere Road
                    [city] => Marblehead
                    [state] => MA
                    [zip] => 01945
                    [office] => AN8973
                    [national_association] => 
                )

)

[terms] => Array
        (
        )

[timber_acres] => None
    [title_5] => 
    [total_gross_expense] => 8577
    [total_gross_income] => 56400
    [total_parking] => 0
    [trash_expense] => Array
        (
            [0] => $0
        )

[uffi] => Array
        (
        )

[unit_1_bathrooms] => 1 Half
    [unit_1_bedrooms] => 0
    [unit_1_floor] => 1
    [unit_1_lease] => Array
        (
            [0] => Y
        )

[unit_1_levels] => 1
    [unit_1_rent] => Array
        (
            [0] => 2100
        )

[unit_2_bathrooms] => 1 Full
    [unit_2_bedrooms] => 2
    [unit_2_floor] => 2
    [unit_2_lease] => Array
        (
            [0] => Y
        )

[unit_2_levels] => 1
    [unit_2_rent] => Array
        (
            [0] => 2600
        )

[unit_3_bathrooms] => 
    [unit_3_bedrooms] => 
    [unit_3_floor] => 
    [unit_3_lease] => Array
        (
        )

[unit_3_levels] => 
    [unit_3_rent] => Array
        (
        )

[unit_4_bathrooms] => 
    [unit_4_bedrooms] => 
    [unit_4_floor] => 
    [unit_4_lease] => Array
        (
        )

[unit_4_levels] => 
    [unit_4_rent] => Array
        (
        )

[unit_level] => 
    [unit_number] => 
    [units_owner_occupied] => 
    [unparsed] => Array
        (
            [0] => 416 Crescent Ave, Chelsea MA 02150
        )

[utilities] => Array
        (
        )

[view] => Array
        (
        )

[water] => Array
        (
        )

[water_expense] => Array
        (
            [0] => $0
        )

[water_views] => Array
        (
        )

[water_views_features] => Array
        (
        )

[waterfront] => No
    [waterfront_features] => Array
        (
        )

[year_built] => 1900
    [year_built_details] => Actual
    [year_built_source] => Public Records
    [year_renovated] => 
    [zip] => 02150
    [zoning] => R-2
    [zoning_details] => 
    [media] => Array
        (
            [0] => Array
                (
                    [id] => 8360215
                    [name] => MLS1.jpg
                    [type] => gallery
                    [category] => image
                    [url] => https://www.bostonrealestate.com/wp-content/uploads/WPL/374509/MLS1.jpg
                    [index] => 1
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:07
                    [modified] => 2024-05-08 01:36:07
                )

[1] => Array
                (
                    [id] => 8360895
                    [name] => MLS2.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=2
                    [index] => 2
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

[2] => Array
                (
                    [id] => 8360896
                    [name] => MLS3.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=3
                    [index] => 3
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

[3] => Array
                (
                    [id] => 8360897
                    [name] => MLS4.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=4
                    [index] => 4
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

[4] => Array
                (
                    [id] => 8360898
                    [name] => MLS5.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=5
                    [index] => 5
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

[5] => Array
                (
                    [id] => 8360899
                    [name] => MLS6.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=6
                    [index] => 6
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

[6] => Array
                (
                    [id] => 8360900
                    [name] => MLS7.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=7
                    [index] => 7
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

[7] => Array
                (
                    [id] => 8360901
                    [name] => MLS8.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=8
                    [index] => 8
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

[8] => Array
                (
                    [id] => 8360902
                    [name] => MLS9.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=9
                    [index] => 9
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

[9] => Array
                (
                    [id] => 8360903
                    [name] => MLS10.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=10
                    [index] => 10
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

[10] => Array
                (
                    [id] => 8360904
                    [name] => MLS11.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=11
                    [index] => 11
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

[11] => Array
                (
                    [id] => 8360905
                    [name] => MLS12.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=12
                    [index] => 12
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

[12] => Array
                (
                    [id] => 8360906
                    [name] => MLS13.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=13
                    [index] => 13
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

[13] => Array
                (
                    [id] => 8360907
                    [name] => MLS14.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=14
                    [index] => 14
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

[14] => Array
                (
                    [id] => 8360908
                    [name] => MLS15.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=15
                    [index] => 15
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

[15] => Array
                (
                    [id] => 8360909
                    [name] => MLS16.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=16
                    [index] => 16
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

[16] => Array
                (
                    [id] => 8360910
                    [name] => MLS17.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=17
                    [index] => 17
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

[17] => Array
                (
                    [id] => 8360911
                    [name] => MLS18.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=18
                    [index] => 18
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

[18] => Array
                (
                    [id] => 8360912
                    [name] => MLS19.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=19
                    [index] => 19
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

[19] => Array
                (
                    [id] => 8360913
                    [name] => MLS20.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=20
                    [index] => 20
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

[20] => Array
                (
                    [id] => 8360914
                    [name] => MLS21.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73134695&w=1024&h=768&n=21
                    [index] => 21
                    [enabled] => 1
                    [created] => 2024-05-08 01:36:11
                    [modified] => 2024-05-08 01:36:11
                )

)

)

EXIT