374 BroadwayMalden, MA 02148

Property Details for 374 Broadway

Year built

1880

Property size (Sq ft)

3,000 SF

Property type

Apartment buildings

Description

This exceptional value-add opportunity presents a two-unit apartment building at 374 Broadway, Malden, MA 02148. Located in a growing submarket just five miles north of Boston, this property offers significant upside potential. The building, constructed in 1880, comprises approximately 3,000 square feet across three stories and sits on a 4,000 square foot lot. It features two units: a two-bedroom and a three-bedroom, totaling 1,600 net rentable square feet. Currently boasting 100% occupancy (as of August 13, 2024), this property presents a strong cash flow opportunity. The asking price is $785,000, translating to $261.67 per square foot and $392,500 per unit. Off-street parking for three vehicles is available at the rear of the building. Investors can maximize returns through strategic in-unit upgrades and common area renovations. The property also presents an attractive option for owner-occupiers seeking to utilize one unit while generating rental income from the other. This is a rare chance to acquire a well-located multifamily property with substantial growth potential in a desirable Massachusetts location.

Location Insight

City

Malden

County

Middlesex

State

Massachusetts

Latitude

42.4357

Longitude

-71.0382

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