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$1,150,000
Total Beds: 6 Total Baths: 2
Total Units: 2 SQFT: 2630
LOT size: 0.09 Acres
38-40 Cherry St
Medford, MA 02155
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Property Description

Meticulously maintained Medford 2-family with lots of updates by the current owner that still offers an opportunity for upside improvements. Both units have had regular updates, including recently refinished hardwood floors, regular paint updates, and updated kitchens and baths. Both units are currently rented under leases, making it a great investment property with an opportunity for future owner-occupancy. The walk-up heated attic provides a great opportunity for expanding the 2nd-floor unit. Electric was updated to 200amp, boilers were done in the early 2000s, and water heaters were recently replaced. The roof was done in 2008. Mini splits were added to unit 2 in 2020, and 1st floor windows have just been updated.

Property Details

Building Information

  • Total Units: 2
  • Total Floors: 3
  • Total Bedrooms: 6
  • Total Full Baths: 2
  • Amenities: Bike Path, Conservation Area, Highway Access, House of Worship, Laundromat, Medical Facility, Park, Private School, Public School, Public Transportation, Shopping, T-Station, Walk/Jog Trails
  • Basement Features: Full, Walk Out
  • Common Rooms: Dining Room, Kitchen, Living Room
  • Common Interior Features: Tile Floor
  • Common Appliances: Dishwasher, Microwave, Range, Refrigerator

Financial

  • APOD Available: Yes
  • Expenses Source: Owner Provided
  • Gross Operating Income: 67200
  • Net Operating Income: 67200

Utilities

  • Electric Info: 200 Amps, Circuit Breakers, Individually Metered, Underground
  • Energy Features: Insulated Doors, Insulated Windows
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Under Lease: Yes
  • Floors: 2
  • Levels: 2

Construction

  • Year Built: 1920
  • Type: 2 Family - 2 Units Up/Down
  • Construction Type: Aluminum, Frame
  • Foundation Info: Concrete Block, Fieldstone
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Flooring Type: Tile, Wood
  • Lead Paint: Certified Treated
  • Warranty: No

Other Information

  • MLS ID# 73536452
  • Last Updated: 06/17/26

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Map

Seller's Representative: Jamie Thompson, Thompson Realty
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: n/a
Sub-Agency Relationship Offered: No

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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

MLS PIN data last updated at 2026-06-17 03:30:00

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