110 Branch St, Unit 10 & 11, Lowell MA 01851
About this home
Hands-free investment package with annual projecting gross rents of $60,000. These two condo units were converted in 2005 with hardwood floor through out. Both units have lead-paint certificates; Each unit has one deeded off-street parking. Unit 10 is just vacant and ready to rent. Unit 11 is super large(1,745 SF), the public record show it has 4 bedrooms, but it has five bedrooms with 2 full baths. Current tenant will move out before closing w/ $3200 rent. Total condo fees for both units is $738.93 per month(U10: $249.01, U11: $489.92). Both units are on the top-floor and next to each other. Owning these two units is like having two-family rental benefits without two-family maintenance troubles and expenses(condo fees pay for exteriors, water/sewer, snow & trash removal and master insurance, etc). With this high rental demand, this ~9% cap rate investment is a great way to hedge and preserve our hard earn savings. Don't forget to see the Lowell Housing Fair market rent rates.
Sale Statistics
This property sold for 0.2% above the original asking price, indicating strong buyer demand.
With only 20 days on market, this was a quick sale compared to typical market conditions.
Facts & Features
Property Overview
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Additional Details
Location
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Highlands
110 Branch St, Unit 10 & 11, Lowell MA 01851
Lowell, MA 01851
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School information not available
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Property History
Market Insights
Property Timeline
Sold
May 15, 2024Listed for Sale
Apr 10, 2024| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 05/15/2024 | ✓ Sold | $530,000 | - | - | Property sold |
| 04/10/2024 | 🏠 Listed for Sale | $529,000 | - | - | Original listing |