Currently, it's not a drive-by! This investment property is a turnkey, 5-unit building near downtown Fitchburg. It is comprised of four 1 bdrm apartments and one 3 bdrm apartment. This building has seen capital improvements and cost-saving measures over the years, including aluminum siding, a number of upgraded windows to a vinyl replacement, some unit renovations, partial roof replacement, foundation pointing, and electric water heater replacement. Three apartments will be conveyed vacant for a buyer to establish their own rental income. This property is a perfect investment for someone looking for a stable building that has the ability to produce a solid return with its low operating expenses, as all tenants pay for their own heat and electricity. An estimated proforma shows the ability to gross $66,000 in 2024. With the proper rental income this property is sure to turn a profit for any investor.
This listing has been viewed 11 times in the past 212 days
Last Updated: May 2nd, 2024 at 5:27am
Walk/jog Trails
Highway Access
House Of Worship
Public School
Shopping
Golf
Park
Medical Facility
Laundromat
Bike Path
Public Transportation
T-station
Pool
Tennis Court(s)
Private School
University
General Information for 5-7 Mt Vernon, Fitchburg, Massachusetts 01420
Property TypeResidential Income
Property Sub TypeMulti Family
Price$550,000
Price per sqft$161.10
MLS #73212483
Handicap Access / FeaturesNo
List Date2024-03-14
Special Listing Conditions
StateMassachusetts
Street NameMt Vernon
CityFitchburg
Zip Code01420
CountyWorcester
MLS Status
Covered Parking Spaces0
Heating Y/NYes
Heating System
Heat Zones
Sold Date03/05/2024
Property Sub TypeMulti Family
Building Area SourcePublic Records
Building Area Total3414
Building Area Units0
CarportNo
Close Date
Close Price$0
Covered Parking Spaces0
Listing Service
UnparsedAddress5-7 Mt Vernon, Fitchburg MA 01420
Zoning
Interior Features for 5-7 Mt Vernon, Fitchburg, Massachusetts 01420
* Approx. Living Area Total3,414 sq ft
Living Area Includes BasementNo
Bedrooms7
* # Fireplaces0
Bathrooms (Total)5
Full Baths5
* # Half Baths0
* # Rooms
Basement
Heating System
Appliances
Electric
Living Area Disclosure
Living Area Includes BasementNo
Door Features
ElectricNo
Electric$1,817
MLS Area (Major)
MLSPIN_BEDRMS_11
MLSPIN_BEDRMS_21
MLSPIN_BEDRMS_31
MLSPIN_BEDRMS_41
MLSPIN_FLRS_1
MLSPIN_FLRS_2
MLSPIN_FLRS_3
MLSPIN_FLRS_4
MLSPIN_F_BTHS_11
MLSPIN_F_BTHS_21
MLSPIN_F_BTHS_31
MLSPIN_F_BTHS_41
MLSPIN_GRE$7,851
MLSPIN_HTE$0
MLSPIN_H_BTHS_10
MLSPIN_H_BTHS_20
MLSPIN_H_BTHS_3 0
MLSPIN_H_BTHS_40
OffMarketDate08/04/2024
Exterior Features for 5-7 Mt Vernon, Fitchburg, Massachusetts 01420
* Approximate Lot Size0.1 acres
Covered Parking Spaces0
Lot FeaturesLevel
* Parking Spaces3
* Sewer Utilities
* Water Utilities
* Year Built1900
Year Built Details
Year Built SourcePublic Records
Construction MaterialsFrame
Exterior Features
Foundation Area
Foundation MaterialsStone,Brick/Mortar
Approx. Street Frontage
Horse PermittedNo
Horse Amenities
Parking Features
Utilities
Lot Size (Square Feet)4,356 Sqft
Disclosures for 5-7 Mt Vernon, Fitchburg, Massachusetts 01420
Buyer Agent Compensation2.25
ContingencyPending P&S
Financing
Disclosures
Documents Available
Exclusions
MLSPIN_COMP_BASED_ONNet Sale Price
MLSPIN_COOP_COMP
MLSPIN_DISCLOSUREY
Lead PaintYes
Living Area Disclosure
Living Area Includes BasementNo
Facilitator Compensation1
TransactionBrokerCompensationType
BuyerAgencyCompensationType
Financial Information for 5-7 Mt Vernon, Fitchburg, Massachusetts 01420
Assessed Value
Real Estate Tax$0
Tax Year
Financial Data SourceOwner
Gross Income$29,220
Insurance Expense$4,500
MLSPIN_LEASE_1
MLSPIN_LEASE_2
MLSPIN_LEASE_3
MLSPIN_LEASE_4
MLSPIN_LEVELS_11
MLSPIN_LEVELS_21
MLSPIN_LEVELS_31
MLSPIN_LEVELS_41
MLSPIN_MGF$0
MLSPIN_MSE$0
MLSPIN_RENT1985
MLSPIN_RENT20
MLSPIN_RENT30
MLSPIN_RENT40
MLSPIN_RFS$0
MLSPIN_RME$0
MLSPIN_SOLD_PRICE_PER_SQFT$0
NetOperatingIncome$21,369
OperatingExpense$7,851
OriginalListPrice$550,000
RENT_FEE_INCLUDESUnit 1(water), Unit 2(water), Unit 3(water), Unit 4(water)
TOTAL_RENT2435
WaterSewerExpense$1,534
Lifestyle Information for 5-7 Mt Vernon, Fitchburg, Massachusetts 01420
FireplaceYNNo
Frontage Type
GarageYNNo
Waterview
Pool Features
Waterfront Features
Location information for 5-7 Mt Vernon, Fitchburg, Massachusetts 01420
Elementary School
Middle School
High School
NumberOfUnitsTotal5
Marketing History for 5-7 Mt Vernon, Fitchburg, Massachusetts 01420
MLSPIN_MARKET_TIME_BROKER26
MLSPIN_MARKET_TIME_PROPERTY26
PurchaseContractDate2024-03-24
Agent Information for 5-7 Mt Vernon, Fitchburg, Massachusetts 01420