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    640 River Street

    Boston, MA 02126
    • $1,600,000
    • STATUS: Under Agreement
    • MLS #: 72816650
    Pending
    UPDATED: 77 min ago
    $1,600,000
    • 12
      BEDS
    • 0.18
      ACRES
    • 6
      BATHS
    • 0
      1/2 BATHS
    • 5,448
      SQFT
    • $294
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1920
    County:
    Area:

    School Ratings & Info

    Listing courtesy of Sheila Traphagen of Bridgestone Properties, Llc.

    Description

    Very well maintained 6 family in a great location generating very consistent rental income today with the potential for substantial rental increases without any capital improvements required. This 6 family has all 4 room, 2 bed and 1 bath units with 5 of the 6 units currently rented to subsidized tenants. New owner will benefit from the long time current owner empowering his property manager to maintain this property the right way. With off street parking and well laid out units this property currently generates over ten thousand five hundred dollars a month. However, recent HUD increases in Mattapan have paved the way for this property to see a jump of close to two thousand dollars a month simply by increasing the current subsidized tenants up to the new payment standard. Allows a buyer to pursue this property being offered at the current market value and see a significant increases in value shortly after purchase simply via paperwork and nothing else.

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    The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Data last updated 2021-06-19T08:07:53.173.
    www.maloneypropertiesrealestate.com/homes/116242595
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    640 River Street Boston, MA 02126

    • Price: $1,600,000
    • Status: Under Agreement
    • Updated: 77 min ago
    • MLS #: 72816650
    12
    Beds
    6
    Baths
    0
    ½ Baths
    0.18
    Acres
    5,448
    SQFT
    $294
    $/SQFT
    1920
    Built
    Neighborhood:
    Mattapan
    County:
    Suffolk
    Area:
    Mattapan
    Property Description
    Very well maintained 6 family in a great location generating very consistent rental income today with the potential for substantial rental increases without any capital improvements required. This 6 family has all 4 room, 2 bed and 1 bath units with 5 of the 6 units currently rented to subsidized tenants. New owner will benefit from the long time current owner empowering his property manager to maintain this property the right way. With off street parking and well laid out units this property currently generates over ten thousand five hundred dollars a month. However, recent HUD increases in Mattapan have paved the way for this property to see a jump of close to two thousand dollars a month simply by increasing the current subsidized tenants up to the new payment standard. Allows a buyer to pursue this property being offered at the current market value and see a significant increases in value shortly after purchase simply via paperwork and nothing else.
    Exterior Features

    Beachfront No Foundation Other (See Remarks) Lot Description Other (See Remarks) Parking Features Off-Street Parking Spaces 6 Waterfront Flag No

    Interior Features

    Basement Yes Basement Features Full Bedrooms Unit1 2 Bedrooms Unit2 2 Bedrooms Unit3 2 Fireplaces 0 Fireplaces Unit1 0 Fireplaces Unit2 0 Fireplaces Unit3 0 Floors Unit1 1 Floors Unit2 2 Floors Unit3 3 Full Baths Unit1 1 Full Baths Unit2 1 Full Baths Unit3 1 Half Baths Unit1 0 Half Baths Unit2 0 Half Baths Unit3 0 Hot Water Natural Gas Levels 3 Levels Unit1 1 Levels Unit2 1 Levels Unit3 1 Rooms 12 Rooms Unit1 4 Rooms Unit2 4 Rooms Unit3 4

    Property Features

    Apod Available No Assessments 848900.00 Contingency Type Pending P&S Disclosure No Disclosures All Group Showings Will Be Listed As Open HousesBuyers Need To Be Registered in Advance Gross Operating Income 66012 Lead Paint Certified Treated Lease Unit1 Y Lease Unit2 Y Lease Unit3 Y Lender Owned No Multifamily Type 5-9 Family Net Operating Income 66012 Rent Unit1 2039 Rent Unit2 1804 Rent Unit3 1658 Sewer City/Town Sewer Short Sale Lender App Required No Sq Ft Source Public Record Tax Year 2020 Taxes 8964.38 Utility Connections For Gas Range Water City/Town Water Year Built Description ActualRenovated Since Year Built Source Public Record Zoning Res

    Listing information © 2021 MLS Property Information Network. All information is deemed reliable but should be independently verified.
    Listing provided courtesy of Sheila Traphagen of Bridgestone Properties, Llc.


    The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Data last updated 2021-06-19T08:07:53.173.
     
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    Maloney Properties Real Estate Brokerage
    27 Mica Lane 3rd Floor
    Wellesley MA, 02481
    Listing courtesy of Sheila Traphagen of Bridgestone Properties, Llc.