46-48 Waverly Pl Melrose, MA 02176

Exceptional investment opportunity awaits with the Waverly Place Apartments, a seven-unit multifamily property situated in the desirable city of Melrose, Massachusetts. This property boasts seven one-bedroom apartments, each offering convenient access to eight off-street parking spaces. Its prime location directly adjacent to the Wyoming Hill MBTA station provides unparalleled commuter convenience, with a quick 10-15 minute train ride to North Station in Boston. The property's strategic location also offers easy access to Boston Logan International Airport (11.5 miles) and I-95 (2.6 miles), enhancing its appeal to tenants. Currently operating at 100% occupancy, this asset presents a significant value-add opportunity. Rents are currently below market rate, allowing for substantial increases through unit and hallway upgrades. This is a rare opportunity, as the property hasn't been on the market in over 26 years. The 0.15-acre lot houses a 2,940 square foot building. The charming city of Melrose offers a blend of small-town appeal and urban amenities, including nearby restaurants and bars in the downtown area. Detailed financial information is available upon request. This is an ideal investment for those seeking strong returns and significant upside potential in a highly sought-after location.