Location filter
  • Any
  • Boston
  • Boston - Allston
  • Boston - Back Bay
  • Boston - Bay Village
  • Boston - Beacon Hill
  • Boston - Brighton
  • Boston - Charlestown
  • Boston - Chinatown
  • Boston - Dorchester
  • Boston - Downtown
  • Boston - East Boston
  • Boston - Fenway
  • Boston - Fort Hill
  • Boston - Hyde Park
  • Boston - Jamaica Plain
  • Boston - Mattapan
  • Boston - Mission Hill
  • Boston - North End
  • Boston - Roslindale
  • Boston - Roxbury
  • Boston - Seaport
  • Boston - South Boston
  • Boston - South End
  • Boston - West End
  • Boston - West Roxbury
  • Abington
  • Andover
  • Arlington
  • Belmont
  • Beverly
  • Billerica
  • Braintree
  • Bridgewater
  • Brookline
  • Burlington
  • Cambridge
  • Canton
  • Chelsea
  • Cohasset
  • Danvers
  • Dedham
  • Everett
  • Framingham
  • Gloucester
  • Hingham
  • Lawrence
  • Lexington
  • Lowell
  • Lynn
  • Lynnfield
  • Malden
  • Marlborough
  • Medford
  • Melrose
  • Methuen
  • Milton
  • Natick
  • Needham
  • Newton
  • North Reading
  • Norwood
  • Peabody
  • Pembroke
  • Plymouth
  • Quincy
  • Randolph
  • Reading
  • Revere
  • Salem
  • Saugus
  • Sharon
  • Somerville
  • Stoneham
  • Stoughton
  • Swampscott
  • Taunton
  • Wakefield
  • Waltham
  • Watertown
  • Wayland
  • Wellesley
  • Westwood
  • Weymouth
  • Wilmington
  • Winthrop
  • Woburn
$1,650,000
Total Beds: 7 Total Baths: 7
Total Units: 7 SQFT: 2940
LOT size: 0.15 Acres
46-48 Waverly Place
Melrose, MA 02176
View Map

Property Description

This 7-unit multifamily property consists of (7) One-bedroom apartments with (8) off-street parking spaces for tenants to use. This asset is located directly next to the Wyoming Hill MBTA station which makes it very convenient for tenants who are commuting into the city for work or fun. This is the first time the property has been on the market in over 26 years. The rents are currently 40% below market rate, investors have the opportunity to add value through upgrading units and hallways to a more modern look and raising rents to market rate. All interested parties will have the opportunity to obtain additional information upon request.

Property Details

Building Information

  • Total Units: 7
  • Total Floors: 3
  • Total Bedrooms: 7
  • Total Full Baths: 7
  • Amenities: Public Transportation, T-Station
  • Basement Features: Concrete Floor

Financial

  • APOD Available: Yes
  • Expenses Source: Owner Provided
  • Gross Operating Income: 102000
  • Gross Expenses: 39953
  • Electric Expenses: 2000
  • Water/Sewer: 3360
  • INSC: 4700
  • Repairs & Maintenance: 3500
  • RFS: 3600
  • Management Fee: 4986
  • Miscellaneous Expense: 3750
  • Net Operating Income: 59695

Utilities

  • Electric Info: 60 Amps/Less, None
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Heat, Water
  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Included in Rent: Heat, Water
  • Under Lease: No
  • Floors: 2
  • Levels: 1

Construction

  • Year Built: 1900
  • Type: 5-9 Family
  • Construction Type: Aluminum, Frame
  • Foundation Info: Fieldstone
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Flooring Type: Wood
  • Lead Paint: Yes
  • Warranty: No

Other Information

  • MLS ID# 73320720
  • Last Updated: 12/23/24

Mortgage Calculator

Click to see breakdown

Map

Seller's Representative: Bradford Carlson, New England Realty Advisors LLC
Sub Agent Compensation: n/a
Buyer Agent Compensation: 1.5
Facilitator Compensation: n/a
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

© 2024 MLS Property Information Network, Inc.. All rights reserved.

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 2024-12-23 03:05:00