$960,000
$1,099,900
12.7%For more information regarding the value of a property, please contact us for a free consultation.
11 Beds
5 Baths
4,883 SqFt
SOLD DATE : 05/23/2025
Key Details
Sold Price $960,000
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Up/Down
Listing Status Sold
Purchase Type For Sale
Square Footage 4,883 sqft
Price per Sqft $196
MLS Listing ID 73349147
Sold Date 05/23/25
Bedrooms 11
Full Baths 5
Year Built 1945
Annual Tax Amount $9,991
Tax Year 2025
Lot Size 5,662 Sqft
Acres 0.13
Property Sub-Type 5+ Family - 5+ Units Up/Down
Property Description
Rare investment opportunity in Methuen! 1-3 Ingalls Ct & 164-164A Broadway features two separate buildings—a three-family and a two-family—on a 5-unit lot with 11 bedrooms and 5 bathrooms across 4,883 sq. ft. of living space. With 6 off-street parking spaces, separate utilities, and a layout ideal for stable cash flow, this property offers immediate returns and long-term upside. Currently producing $8,350/month with a pro forma NOI of $95,060 and projected 7.92% cap rate. Situated on a 0.132-acre lot and surrounded by residential charm, this portfolio-style asset has minimal turnover, low vacancy, and strong rental demand. Great for both new and seasoned investors.
Location
State MA
County Essex
Zoning CBD
Direction Broadway St
Exterior
Fence Fenced/Enclosed
Community Features Public Transportation, Shopping, Medical Facility, Laundromat, Highway Access
Total Parking Spaces 6
Garage No
Building
Story 9
Foundation Block
Sewer Public Sewer
Water Public
Others
Senior Community false
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Bought with Jean Giguere • Berkshire Hathaway HomeServices Verani Realty Salem
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "