506 Gorham St., Lowell MA 01852
Lowell, MA 01852
$525,000
Est. $2,794/month
About this home
Great investor opportunity! This 5-unit building consists of four 1-bedroom apartments and one 2-bedroom apartment. Off street parking. Walking distance to downtown, shopping, dining, bus stops and train station. Close to major highways and Umass Lowell. All 5 units are occupied by long term tenants. Open house this coming Saturday 10/12 from 12-2pm
Sale Statistics
Sale Overview
Original List Price:
$719,000
Final Sale Price:
$525,000
Difference:
$194,000 (-27.0%)
Performance Metrics
73.0%
List to Sale Ratio
Sold below asking price
87
Days on Market
Extended listing
Price per Square Foot Analysis
Original $/sq ft:
$181
Sale $/sq ft:
$132
This property sold for $132 per square foot
Sale Summary
This property sold for 27.0% below the original asking price.
The property spent 87 days on market before selling.
Facts & Features
Property Overview
Property Type
5+ Family - 5+ Units Up/Down
Property Category
Residential Income
Year Built
1910
Bedrooms
6
Full Bathrooms
5
Living Area
3,976 sq ft
Total Rooms
16
Stories
5
Levels
5
Interior Features
Has Fireplace
No
Exterior & Structure
Foundation
Other
Has Spa
No
Waterfront Property
No
Lot & Land
Lot Size
0.13 acres
Lot Size
5,663 sq ft
Lot Size Area
0.1300
Lot Features
Level
Parking & Garage
Has Garage
No
Total Non-Garage Parking Spaces
4
Utilities & Systems
Water Source
Public
Sewer
Public Sewer
Community & HOA
Senior Community
No
Financial & Tax Information
Annual Tax Amount
$6,915
Tax Year
2024
Tax Assessed Value
$580,600
Parcel Number
3190622
Zoning
TTF
Additional Details
Year Built Source
Public Records
Year Built Details
Approximate
Disclosures
Agent is related to the seller by marriage. units have wall mount furnaces and a mixture of gas and electric heat. All units are occupied, and the seller cannot say for certain that there are or are not any recording devices on the premises.
Exclusions
Tenants' Personal Property
Location
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Neighborhood
506 Gorham St., Lowell MA 01852
Lowell, MA 01852
Walkability
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Schools
School information not available
Monthly Payment Calculator
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Estimated Monthly Payment
$0
Payment Breakdown
Principal & Interest
$0
Property Tax
$576
Homeowners Insurance
$200
PMI
$0
Property History
Market Insights
12.4%
Price Range
86
Total Days on Market
Property Timeline
Sold
Dec 30, 2024
$525,000
Property sold
Days on Market: 86
Listed for Sale
Aug 7, 2024
$599,000
Original listing
Agent: Jason Newbury
Office: LAER Realty Partners
| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 12/30/2024 | ✓ Sold | $525,000 | - | - | Property sold |
| 08/07/2024 | 🏠 Listed for Sale | $599,000 | - | - | Original listing |