$888,000

Address:"16-22" "May St"

North Andover, Essex "01845"

Status :
Style :
Living area : 2332 sqft
Total rooms :	No. of Bedrooms :
Full Bath(s) :	Half Bath(s) :
Garage(s) : 0	Garage Style :
Basement : No	Lot Size : 10110 sqft/0.23 Acre

Property Details : "INVESTORS TAKE NOTE: a 5.25% cap rate on this unique property in the heart of downtown North Andover. Looking for multifamily income but not the hassle and expense of maintaining a typical 1900s multi? Then do not miss this block of four units in a six-unit condo building, built in 1989 and gut renovated during the conversion in 2006. Three of the units are currently occupied by tenants-at-will who wish to remain, so the cash flow starts immediately! These cozy, modern units each feature updated s/s kitchens and baths, hardwood throughout the living areas, vinyl tilt-in and sliding windows, and newer water heaters. Heat is low-maintenance electric baseboard. Vacant unit has just been completely painted. Condo fee of $210/mo/unit covers master insurance, water/sewer, snow removal, trash, and grounds maintenance. Coin-op laundry on the top floor. Vinyl siding, small yard and limited landscaping keep costs low. New roof last year. One assigned parking spot per unit plus 6 guest spots."

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