This Architecturally stunning MULTIFAMILY is in a fantastic Melrose location...near EVERYTHING! With 6 rental units & 6 garage bays, the possibilities are endless. In the same family for decades, it's time for the next savvy investor to take note of this unique offering. Continue renting as it is, make some updates & UP the rents, or even transform this amazing "mansion" into condominium units. There is nothing more appealing than the vibe of old world charm combined with modern updates & amenities. Throughout this property, you will find some original character such as beautiful crown moldings, floor to ceiling windows, "bump-outs" & bay windows, cathedral pediments, HW floors & even a marble fireplace. Equipped with 6 updated heating systems, 6 updated hot water tanks, all separate Circuit Breaker electrical panels, & a coin-op laundry. Grand & gracious, this property awaits its new care-taker with a dream of long-term stability. A property like this doesn't often come around.
Sale Statistics
Sale Overview
Original List Price:$2,450,000
Final Sale Price:$1,850,000
Difference:
$600,000 (-24.5%)
Performance Metrics
75.5%
List to Sale Ratio
Sold below asking price
45
Days on Market
Average time
Price per Square Foot Analysis
Original $/sq ft:$404
Sale $/sq ft:$305
This property sold for $305 per square foot
Sale Summary
This property sold for 24.5% below the original asking price.
The property spent 45 days on market before selling.
All information provided by LR and seller's is done so as a courtesy. Neither seller's nor agent make any warranties or representations regarding condition, zoning, or otherwise. Buyer's & their agents always advised to exercise due diligence. Property sold AS IS. Leases transfer to buyer.
Exclusions
See Attachments For Descriptions Of All Units W/The Rent & Lease Dates, & See Expenses On P & L.
