115 Salem St - Apartments FOR SALE


Lowell, MA 01854
$1,799,000 USD
254-383-5521
115 Salem St, Lowell, MA for Sale
$1,799,000 USD
Apartments - FOR SALE
1/59
null | Request Cap Rate

115 Salem St
Lowell, MA 01854


HIGHLIGHTS

  • Nearby Public Transportation
  • Under Market Rents
  • Separate Utilities
  • Updated Units and Utilities
  • Fire Alarm and Sprinkler Systems
  • Common Area Cameras

OVERVIEW

Here’s an incredible opportunity to purchase a well-maintained 8-unit building located near UML's East Campus. This property features seven 2-bedroom units and one 3-bedroom unit, all currently occupied with tenants at will. The building underwent a comprehensive gut renovation in 2010, during which all utilities were updated. This extensive renovation included the replacement of plumbing, electrical systems, insulation, roofing, siding, windows, kitchens, bathrooms, and more, ensuring a modern and efficient living environment. Additionally, the owner installed fire alarm and sprinkler systems throughout the building for enhanced safety. Tenants are responsible for their own utilities and enjoy convenient on-site laundry services with access to two washers and two dryers. Other notable features include; lead certs for all units, five eights blue board interior walls and a shed for owner storage behind the building. With its prime location, under market rents and extensive upgrades, this building is a fantastic investment opportunity for all types of buyers.

FOR SALE DETAILS

PRICE

$1,799,000 USD

PRICE/SF

$251 USD /SF

# OF UNITS

8

PRICE/UNIT

$224,875

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

LOWE-000117-000000-R008245

ASK ABOUT THIS PROPERTY

Patrick HermansJ. Borstell Real EstateMore Info
254-383-5521

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Patrick HermansJ. Borstell Real EstateMore Info
254-383-5521

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.