Fantastic investment opportunity in Lowell! This multi-family property offers two units, perfect for owner occupancy or adding to an investor's portfolio. Unit 1: 2 bedrooms, 1 bath Unit 2: 3 bedrooms, 1 bath. Each unit features separate utilities and offers off-street parking for convenience. Located just 4 minutesfrom the T and a short walk to the bus stop, commuting is a breeze. Enjoy being 1 mile from downtown Lowell, a 10-minute walk to Kerouac Park and George McDermott Reservoir. With tenants currently at will and paying below market rents, there is significant potential for increased cash flow. Lowell’s low vacancy rate of only 3.75% makes this a great investment opportunity! Don't miss out on this excellent multi-family property in a prime location. Some TLC needed reflective of the listing price.
Sale Statistics
Sale Overview
Original List Price:$539,900
Final Sale Price:$520,000
Difference:
$19,900 (-3.7%)
Performance Metrics
96.3%
List to Sale Ratio
Sold below asking price
76
Days on Market
Extended listing
Price per Square Foot Analysis
Original $/sq ft:$256
Sale $/sq ft:$247
This property sold for $247 per square foot
Sale Summary
This property sold for 3.7% below the original asking price.
The property spent 76 days on market before selling.
Facts & Features
Property Overview
Property Type
Multi Family
Property Category
Residential Income
Year Built
1925
Bedrooms
5
Full Bathrooms
2
Living Area
2,109 sq ft
Total Rooms
11
Stories
3
Levels
3
Interior Features
Heating
Forced Air
Has Heating
Yes
Cooling
Window Unit(s)
Has Cooling
Yes
Has Fireplace
No
Appliances
Range, Refrigerator, Washer, Dryer, Microwave
Interior Features
Walk-Up Attic, Heated Attic, High Speed Internet, Bathroom With Tub, Open Floorplan, Living Room, Dining Room, Kitchen, Living RM/Dining RM Combo
Basement Details
Unfinished
Exterior & Structure
Construction Materials
Frame
Roof
Shingle
Foundation
Stone
Exterior Features
Balcony/Deck
Patio/Porch Features
Deck, Deck - Wood
Fencing
Fenced
Has Spa
No
Waterfront Property
No
Lot & Land
Lot Size
0.07 acres
Lot Size
3,250 sq ft
Lot Size Area
0.0700
Lot Features
Level
Road Frontage Type
Public
Parking & Garage
Has Garage
No
Total Non-Garage Parking Spaces
2
Parking Features
Paved Drive, Off Street, Paved
Utilities & Systems
Water Source
Public
Sewer
Public Sewer
Community & HOA
Community Features
Public Transportation, Shopping, Park, Walk/Jog Trails, Medical Facility, Laundromat, Highway Access, House of Worship, Public School, T-Station, University
Senior Community
No
Financial & Tax Information
Annual Tax Amount
$4,375
Tax Year
2024
Tax Assessed Value
$367,300
Parcel Number
3189421
Zoning
TMF
Financial Data Source
Owner
Additional Details
Year Built Source
Public Records
Year Built Details
Actual
Exclusions
Washer And Dryer In The Basement Are Tenants.
Listing Service
Entry Only
Location
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Neighborhood
42 Albion St, Lowell MA 01850
Lowell, MA 01850
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$365
Homeowners Insurance$200
PMI$0
Property History
Market Insights
1%
Price Range
77
Total Days on Market
Property Timeline
✓
Sold
Jan 10, 2025
$520,000
Property sold
Days on Market: 77
🏠
Listed for Sale
Sep 30, 2024
$525,000
Original listing
Agent: Lesly Montoya JoseOffice: Cameron Real Estate Group
