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ATTENTION INVESTORS: Prime opportunity in transit-oriented, downtown Melrose - named one of the hottest zip codes in America! Rarely found in the heart of Melrose, this fully rented, updated and turnkey 5-unit multifamily property with 10 parking spots is a masterpiece of architecture and financial opportunity. Each unit boasts exquisite woodwork, infusing classic charm with contemporary living. Nestled steps next to the Melrose Highlands train station with easy commute to Boston, surrounded by shops, restaurants, Wholefoods, and minutes to beautiful Ell Pond, this property caters to the demands of modern life, making it a hotspot for tenants seeking accessibility and a stress-free commute. With fully occupied, turnkey rentals, enjoy a hassle-free income stream and let your investment work for you. Don't miss out on this golden opportunity to acquire a fully rented, turnkey multifamily property with value-add upside in one of Massachusetts' most sought-after locations!

More Info

Basic Information

  • Contingency Pending P&S
  • Gross Income $140,700
  • Mls StatusSold
  • Parcel Number M:B12 P:0000065,658475

Tax Information

  • Tax Assessed Value $1,186,100
  • Tax Year 2023
  • Taxes$12,359

Parking

  • Open Parking YN Yes
  • Parking Features Paved Drive, Off Street, Paved
  • Parking Spaces10

Rooms

  • Bathroom6
  • Bathrooms Total Decimal 6
  • Bedrooms8
  • Full Bath6

Basic Information

  • List Price$1,599,990
  • MLS Number73191490
  • Modification Date04/15/2024
  • Property SubType5+ Family - 5+ Units Up/Down
  • Purchase Contract Date01/16/2024
  • Sale Date04/12/2024
  • Sale Price$1,605,000
  • Virtual TourView Tour

Location

  • Address608 Franklin Street
  • Building Number608
  • CountyMiddlesex
  • StateMA
  • StreetFranklin Street
  • TownMelrose
  • Zip02176

Building

  • BasementFull, Walk-Out Access
  • Building Area Units Square Feet
  • FireplaceYes
  • Fireplaces Total 3
  • FoundationGranite
  • Rooms26
  • Stories9
  • Units5
  • Utilities For Gas Range
  • Year Built1895
  • Year Built Details Renovated Since
  • Year Built Source Public Records

Property

  • Acreage0.27

Interior

  • Flooring Tile, Hardwood

Exterior

  • RoofShingle

Utilities

  • Electric Individually Metered
  • Heat SystemYes
  • Heating Hot Water
  • Sewer Public Sewer
  • Water Source Public, Individual Meter

Property Information

  • Building Area Source Owner
  • Living Area 5,339
  • Lot Size Square Feet 11,631
  • Lot Size Units Acres
  • Square Feet5,339

Amenities

  • AmenitiesPublic Transportation, Shopping, Medical Facility, Laundromat, T-Station
  • Other AmenitiesBasement, Fireplace

Legal

  • ZoningURA

Other

  • Buyer Agency Compensation2
  • Date Listed01/08/2024
  • Farm Land Area Units Square Feet
  • View Count97

Map Location

Driving Directions

Listed by Pamela Bardhi of eXp Realty

Listing Sold by eXp Realty

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