465-473 Water Street

Fitchburg, MA 01420

$745,000
Last Sold Price
13
Beds
6
Baths
6,047 Sq. Ft.
$123 / Sq. Ft.
6,047
Sq. Ft.
$123
per Sq. Ft.

Description

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 465-473 Water Street in Fitchburg, Massachusetts (the “Property”). The four-story building contains six residential units consisting of five (5), 2-Bedroom/1-Bathroom units and one (1), 3-Bedroom/1-Bathroom unit with 6,047 square feet of living space in 9,474 square feet of gross area on a 0.14-acre parcel. Each unit is separately metered for electricity, heat, and hot water...Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 465-473 Water Street in Fitchburg, Massachusetts (the “Property”). The four-story building contains six residential units consisting of five (5), 2-Bedroom/1-Bathroom units and one (1), 3-Bedroom/1-Bathroom unit with 6,047 square feet of living space in 9,474 square feet of gross area on a 0.14-acre parcel. Each unit is separately metered for electricity, heat, and hot water which the tenants pay directly. The Landlord is responsible for domestic water and sewer and common area electric. The in-place leases are significantly below market rates; the opportunity exists to upgrade the unrenovated unit interiors to drive rental rates in an urban-infill, high demand/supply-constrained residential market. Downtown Fitchburg is a densely developed, mixed use neighborhood centered around Main Street, the Nashua River and the MBTA rail station.
  1. Listed by Ryan Benton • Horvath & Tremblay
  2. Listed by Spencer Norton • Horvath & Tremblay

Property Details for 465-473 Water Street

Town
Fitchburg
Area
MA-Fitchburg
Garage Spaces
0
Parking Spaces
10.00
Parking Spaces Total
10

Location

Listing Courtesy of Horvath & Tremblay, Ryan Benton; Horvath & Tremblay, Spencer Norton

Sold By Four Points Real Estate, LLC, Candor Realty Group

Add your commute
LISTING UPDATED: 06/21/2023 03:10 PM

Property Details for 465-473 Water Street

StatusSold
MLS #73086393
Days on Market50
Taxes$7,209 / year
HOA Fees-
Compass TypeMulti Family
MLS TypeMulti-family / 5-9 Family
Year Built1900
CountyWorcester County

Location

Listing Courtesy of Horvath & Tremblay, Ryan Benton; Horvath & Tremblay, Spencer Norton

Sold By Four Points Real Estate, LLC, Candor Realty Group

Add your commute

Building Information for 465-473 Water Street

Stories10Residences6Year Built1900Building Size-Lot Size0.14 AC / 5,899 SF

Payment Calculator

$4,667 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,066

Property Taxes

$601

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 465-473 Water Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Current Financing: Conv. Fixed
  • Living Area: 6047.0
  • SqFt with Basement: No
  • Total Units: 6
  • Waterfront: No
  • Year Built Details: Approximate
  • Year Built Source: Public Records
Features
Interior Features
  • Basement Features: Interior Access, Concrete Floor
  • Num of Baths: 6.0
  • Num of Full Baths: 6
  • Num of Half Baths: 0
  • Bathrooms Total Decimal: 6.00
  • Bathrooms Total Integer: 6
  • FireplaceYN: No
  • Fireplaces: 0
  • Interior Features: Other (See Remarks)
  • Interior Features: Other (See Remarks)
  • SpaYN: No
Exterior Features
  • Roof Material: Shingle
Parking Features
  • Covered Spaces: .00
  • Garage: No
  • Garage Parking: Paved Drive
  • Open Parking: Yes
  • Parking Features: Paved Drive
Utilities
  • Sewer: City/Town Sewer
  • Water: Public
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
Tax Information
  • Tax ID: M:0096 B:0007 L:0,1507415
  • Assessments: $450,000
  • Book: 9447
  • Tax Year: 2023
  • Zoning: NB
Building / Association Information
Living Characteristics
  • Beds Total: 13
  • Total Living Levels: 10
Other Building Characteristics
  • Foundation: Concrete Perimeter, Stone
Income / Expenses
  • Electricity: $240.00
  • GOI: $75,120.00
  • Insurance: $4,535.00
  • GRE: $9,815
  • NOI: $65,305.00
  • Operating Expense: $9,815.00
  • WSE: $5,040.00
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
Unit 3 Description
  • Floor U3: 2
  • Lease U3: Y
  • Levels U3: 1
Unit 4 Description
  • Floor U4: 3
  • Lease U4: Y
  • Levels U4: 1
Rental Info
Rental Info
  • Total Actual Rent: $7,550.00
Market and Agent Information
Sale Info
  • Buyer Broker Comp: 2
  • Other Agent Compensation: 0

Property History for 465-473 Water Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 465-473 Water Street

This home is within Fitchburg School District.
Rating
School
Type
Grades
Distance
Public - PK to 4
Public - PK to 4
Public - PK to 4
Public - PK to 12
Rating
School
Distance
Reingold Elementary School
PublicPK to 4

Crocker Elementary School
PublicPK to 4

South Street Elementary School
PublicPK to 4

Fitchburg High School
PublicPK to 12

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.

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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, Ryan Benton; Horvath & Tremblay, Spencer Norton

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.