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Key Details
Sold Price $1,850,000
Property Type Multi-Family
Sub Type 5-9 Family
Listing Status Sold
Purchase Type For Sale
Square Footage 8,381 sqft
Price per Sqft $220
MLS Listing ID 72337112
Sold Date 08/30/18
Bedrooms 12
Full Baths 6
Half Baths 4
Annual Tax Amount $8,136
Tax Year 2018
Lot Size 5,662 Sqft
Acres 0.13
Property Description
Rare opportunity to develop a FULLY APPROVED 7 unit mixed use building a block away from the proposed Green Line extension. Comprised of Six two-bedroom 1/1.5 bath units, ranging from 993-1058 SqFt each, and one commercial space. Private decks, elevator building and direct access to 7 garage parking spaces will check all the boxes for future buyers. Highlights and current status of the development; Clean 21E (certificate of compliance filed), all utilities cut/capped with site ready for demo, and construction / civil drawings in hand which were completed by a high end and well-respected local architect. Ready to file for building permit and begin construction. Viable for both a quick build / condo with an expected sellout of 5.3+M, or hold as a rental building with strong potential CAP rate while the area continues to develop around the green line extension. The extension has a planned Washington St Stop, which is only a block away at the corner of Washington and Tufts.
Location
State MA
County Middlesex
Zoning RC
Direction Corner of Washington and Franklin
Exterior
Exterior Feature Balcony
Garage Spaces 6.0
Community Features Public Transportation, Shopping, Tennis Court(s), Park, Walk/Jog Trails, Medical Facility, Laundromat, Highway Access, House of Worship, Public School, T-Station
Total Parking Spaces 6
Garage Yes
Building
Lot Description Corner Lot
Story 4
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
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Bought with David Dalton • Leading Edge Real Estate
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Ryan Askew
Sales Associate | License ID: 9578345
Sales Associate License ID: 9578345