475 Nantasket AveHull, MA 02045

Property Details for 475 Nantasket Ave

Year built

1920

Construction

FRAME

Lot size

0.23 AC

Property size (Sq ft)

4,242 SF

Zone code

BUS

Property type

Residential income homes

Property subtype

Serviced apartments

APN

HULL M:00026 P:00216

APU

HULLM00026P00216

Description

This 14-unit rooming house at 475 Nantasket Ave, Hull, MA 02045 presents a compelling value-add investment opportunity. The 4,242 square foot, three-story building, constructed in 1920, sits on a prime location in Hull, Plymouth County. Currently operating as a rooming house, the property offers significant redevelopment potential, with permitted BUS zoning allowing for conversion into a three-family dwelling. The asking price is $1,300,000, translating to $306.46 per square foot and $92,857.14 per unit. The property boasts a 5.84% cap rate, indicating strong potential for return on investment. Investors will appreciate the historical charm of this building combined with the flexibility to either maintain the existing 14-unit configuration or pursue a lucrative redevelopment project. This property offers a unique blend of immediate income generation and long-term growth potential in a highly desirable Massachusetts coastal town. The property's size and location make it an attractive prospect for those seeking a multifamily investment with substantial upside. This is a rare opportunity to acquire a well-situated property with significant potential for value appreciation and strong cash flow. Don't miss this chance to capitalize on the thriving Hull real estate market.

• CAP approach

  CAP return

  Valuation

  6%

  $869,648

  6.5%

  $802,752

  7%

  $745,413

• Comparable approach

  Method

  Valuation

  Relative Method

  $859,103

  Geo Method

  $859,103

• Alternative Use

  Use

  Valuation

  Residential

  $802,752

  Hospitality

  $735,317

  Educational

  $611,775

  Medical

  $632,815

  Retail

  $951,650

Location Insight

City

Hull

County

Plymouth

State

Massachusetts

Latitude

42.2812

Longitude

-70.8727

CBSA code

14460

CBSA name

BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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