84-86r Cross StMalden, MA 02148

Property Details for 84-86r Cross St

Property size (Sq ft)

4,660 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a meticulously renovated six-unit multifamily property in Somerville, MA. Located at 84-86r Cross St, this property boasts 4,660 square feet and comprises a four-family and a two-family building on a single lot. Four of the six units have undergone complete gut renovations, featuring granite countertops, new appliances, and updated kitchens. The property also benefits from a recently updated roof, electrical system, and hot water tanks. Currently generating a gross annual income of $159,600 (excluding income from four coin-operated washer/dryers), the property offers significant upside potential due to rents substantially below market value. The property includes three off-street parking spaces accessed via two driveways. Its prime location offers convenient access to public transportation, with proximity to both the Green and Orange lines. The walk score is 90, the transit score is 90, and the bike score is 85, reflecting its highly desirable location. This property presents a compelling investment opportunity, suitable for a 1031 exchange or potential future condo conversion given the extensive recent renovations. The property features 18 total rooms, 8 bedrooms, and 6 bathrooms. All unit utilities are separately metered.

Location Insight

City

Malden

County

Middlesex

State

Massachusetts

Latitude

42.4326

Longitude

-71.0557

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