2 Granite Street

Malden, MA 02148

$1,587,500
Last Sold Price
7
Beds
7
Baths
4,208 Sq. Ft.
$377 / Sq. Ft.
4,208
Sq. Ft.
$377
per Sq. Ft.

Description

2 Granite Street offers the opportunity to acquire a well-maintained, fully leased investment Property in an incredible, high-density, urban-infill location at a 6.54% cap rate on current income with below market rents. 2 Granite consists of a desirable, three-story building containing a total of seven residential units. Capital improvements include a brand-new electrical service to the entire building, newer roof and vinyl siding as well as lead paint compliance certificates for all units. Additionally,...2 Granite Street offers the opportunity to acquire a well-maintained, fully leased investment Property in an incredible, high-density, urban-infill location at a 6.54% cap rate on current income with below market rents. 2 Granite consists of a desirable, three-story building containing a total of seven residential units. Capital improvements include a brand-new electrical service to the entire building, newer roof and vinyl siding as well as lead paint compliance certificates for all units. Additionally, five of the seven units and the common areas have been renovated; however, the incoming owner can add value through programmatic upgrades to the two unrenovated units, allowing the Property to achieve market rents and increased revenues. The location is 1.2-miles from Downtown Malden and Downtown Malden’s area shopping. Additionally, the Oak Grove Transit Station and Malden Center Transit Station with service on the Orange Line as well as the MBTA Commuter Rail are 1.6 miles away.
  1. Listed by John Pentore • Horvath & Tremblay
  2. Listed by Dennis Kelleher • Horvath & Tremblay

Property Details for 2 Granite Street

Town
Malden
Area
MA-Malden
Garage Spaces
0
Parking Spaces
.00

Location

Listing Courtesy of Horvath & Tremblay, John Pentore; Horvath & Tremblay, Dennis Kelleher

Sold By RE/MAX Renaissance Inc, Cameron Whalen

Add your commute
LISTING UPDATED: 07/17/2023 10:32 AM

Property Details for 2 Granite Street

StatusSold
MLS #73076169
Days on Market53
Taxes$10,827 / year
HOA Fees-
Compass TypeMulti Family
MLS TypeMulti-family / 5-9 Family
Year Built1911
CountyMiddlesex County

Location

Listing Courtesy of Horvath & Tremblay, John Pentore; Horvath & Tremblay, Dennis Kelleher

Sold By RE/MAX Renaissance Inc, Cameron Whalen

Add your commute

Building Information for 2 Granite Street

Stories3Residences7Year Built1911Building Size-Lot Size0.07 AC / 3,136 SF

Payment Calculator

$9,566 per month

30 year fixed, 7.25% Interest

Principal and Interest

$8,664

Property Taxes

$902

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2 Granite Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Public Transportation, Shopping, Park, Highway Access, Public School, T-Station, Other (See Remarks)
  • Current Financing: Conv. Fixed
  • Living Area: 4208.0
  • SqFt with Basement: No
  • Total Units: 7
  • Waterfront: No
  • Year Built Details: Approximate
  • Year Built Source: Public Records
Features
Interior Features
  • Appliances: Washer, Dryer, Gas Water Heater
  • Basement Features: Unfinished Basement
  • Num of Baths: 7.0
  • Num of Full Baths: 7
  • Num of Half Baths: 0
  • Bathrooms Total Decimal: 7.00
  • Bathrooms Total Integer: 7
  • FireplaceYN: No
  • Fireplaces: 0
  • SpaYN: No
Exterior Features
  • Lot Description: Corner Lot
  • Roof Material: Shingle
Parking Features
  • Covered Spaces: .00
  • Garage: No
Utilities
  • Electric: Individually Metered
  • Sewer: City/Town Sewer
  • Water: Public
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
  • Road Frontage Type: Public
Tax Information
  • Tax ID: 600193
  • Assessments: $888,200
  • Book: 67203
  • Tax Year: 2023
  • Zoning: ResA
Building / Association Information
Living Characteristics
  • Beds Total: 7
  • Total Living Levels: 3
Other Building Characteristics
  • Foundation: Stone, Brick/Mortar
Income / Expenses
  • Annual Expenses Source: Estimated, Owner
  • GOI: $143,400.00
  • GRE: $35,553
  • NOI: $107,847.00
  • Operating Expense: $35,553.00
Complex & Association Information
  • Adult Community: No
Unit Information
Unit 1 Description
  • Floor U1: 1
  • Lease U1: Y
  • Levels U1: 1
Unit 2 Description
  • Floor U2: 1
  • Lease U2: Y
  • Levels U2: 1
Rental Info
Rental Info
  • Total Actual Rent: $11,900.00
Market and Agent Information
Sale Info
  • Buyer Broker Comp: 2%
  • Selling Broker Comp: 0
  • Other Agent Compensation: 0

Property History for 2 Granite Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2 Granite Street

Taxable ValueLand$265,900Additions$688,500Total$954,400
Tax Record2024$11,157 ($930 / month)
Home Facts
Baths10.5Total Finished SqFt4,208 SqFtAbove Grade Finished SqFt4,208 SqFtUnfinished Basement SqFt140 SqFtStories3Lot Size3,136 SqFtStyleMulti-Family Res (5+ Units)Year Built1911ZoningRESACountyMIDDLESEXAPNMALD M:141 B:665 L:501

Schools near 2 Granite Street

This home is within Malden School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 9 to 12
Public - K to 8
Public - K to 8
Rating
School
Distance
Salemwood School
PublicK to 8

Malden High School
Public9 to 12

Forestdale School
PublicK to 8

Linden School
PublicK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Horvath & Tremblay, John Pentore; Horvath & Tremblay, Dennis Kelleher

The property listing data and information, or the images, set forth herein were provided to MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS. The property listing data and information, and the images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the images, set forth herein.