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Classic Victorian mixed-use building in the heart of downtown Melrose, just steps to shops, restaurants, commuter rail, and bus lines. This well-maintained and highly admired property features four residential units and two commercial spaces with excellent street frontage and visibility. All units are fully rented, generating high, consistent operating income. The building has seen numerous updates, including renovated kitchens and baths in select units, updated flooring, newer water heaters, and a new chimney liner, offering both charm and modern reliability. With ample nearby public parking and a prime location in a vibrant downtown setting, this is a rare opportunity for investors seeking a turnkey property with solid income and long-term upside.

More Info

Basic Information

  • Contingency Pending P&S
  • Gross Income $130,800
  • Mls StatusUnder Agreement
  • Parcel Number M:0C7 P:0000133,654117

Tax Information

  • Tax Year 2025
  • Taxes$24,381

Rooms

  • Bathroom6

Basic Information

  • List Price$1,450,000
  • MLS Number73490896
  • Modification Date06/02/2026
  • Purchase Contract Date03/24/2026

Location

  • Address3-5 E Foster Street
  • Building Number3-5
  • CountyMiddlesex
  • StateMA
  • StreetE Foster Street
  • TownMelrose
  • Zip02176

Building

  • Building Area Units Square Feet
  • Utilities Public Water, Public Sewer, Natural Gas Available
  • Year Built1860

Property

  • Acreage0.05

Property Information

  • Living Area 4,497
  • Lot Size Square Feet 2,039
  • Lot Size Units Acres
  • Square Feet4,497

Legal

  • ZoningBA1
  • Zoning Description Legal Conforming

Other

  • Date Listed03/24/2026
  • Farm Land Area Units Square Feet

Map Location

Driving Directions

Listed by Lesley Smith of Barrett Sotheby's International Realty

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