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$1,489,000
Total Beds: 7 Total Baths: 6
Total Units: 4 SQFT: 6457
LOT size: 0.08 Acres
581 & 233 Proctor & Washington Ave
Revere, MA 02151
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Property Description

Solid brick 4-unit mixed-use investment at 581 Proctor Ave & 233 Washington St featuring 3 residential units and a 2000+ sq ft commercial dance studio with long-term tenant of 39 years. Residential units include two 4-room/2-bedroom/1-bath apartments and one 6-room/3-bedroom unit with office or den. Common laundry room. Property currently operating at a strong 9% cap rate. All tenants are Section 8 with reliable income stream. All Delead Certificates in hand. Excellent cash flow, durable construction, and exceptional tenant stability make this a true investor opportunity. Dance studio leased till 2029. .

Property Details

Building Information

  • Total Units: 4
  • Total Floors: 4
  • Total Bedrooms: 7
  • Total Full Baths: 4
  • Total Half Baths: 2
  • Total Fireplaces: 1
  • Amenities: Public Transportation, Shopping
  • Common Rooms: Kitchen, Living RM/Dining RM Combo, Living Room, Office/Den
  • Common Interior Features: Bathroom With Tub & Shower, Ceiling Fans, Lead Certification Available, Security System, Studio, Tile Floor, Upgraded Cabinets, Upgraded Countertops
  • Common Appliances: Dishwasher, Microwave, Other (See Remarks), Range, Refrigerator
  • Common Heating: Extra Flue, Gas, Gas, Heat Pump, Hot Air Gravity, Hot Water Baseboard
  • Common Cooling: None

Financial

  • APOD Available: Yes
  • Gross Operating Income: 144000
  • Gross Expenses: 26000
  • Water/Sewer: 4000
  • INSC: 8000
  • Net Operating Income: 118000

Utilities

  • Heat Zones: 4
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 3 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 2
  • Levels: 1

Unit 4 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Construction

  • Year Built: 1960
  • Type: 4 Family
  • Construction Type: Brick
  • Foundation Info: Slab
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Flooring Type: Tile, Wood
  • Lead Paint: None
  • Warranty: No

Other Information

  • MLS ID# 73481847
  • Last Updated: 03/04/26
  • Terms: Contract for Deed, Rent w/Option

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Map

Seller's Representative: Annemarie Torcivia, Trinity Real Estate
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 2026-03-04 03:30:00

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