Fantastic Investment Opportunity! CASH COW!!! $188,000 ANNUAL INCOME! Exceptional investment opportunity with a diverse range of possibilities for usage of this property. Currently operating as a licensed 17 unit rooming house in close proximity to the train station, downtown amenities, shopping, medical, highway, schools & much more! This gorgeous property features 7 1/2 bathrooms, 2, 1-br apartments, 9 full kitchen, (2) coin-op laundry services in basement/Coke machine (as is condition). Brand new sprinkler system, new fire escape, a new 200 amp electric service, roof approx 11 years old, newer heating systems and hot water tanks. Solid/steady rental history - fully occupied as of July 2024 (weekly and monthly incomes). Expense data/rent roll are available upon request. Serious buyers only. Seller anticipates completing a 1031 Tax Exchange of relinquished property. Prospective buyers should consult with their lender(s) prior to making an appointment.
This listing has been viewed 14 times in the past 44 days
Last Updated: November 5th, 2024 at 5:58am
Highway Access
House Of Worship
Public School
Shopping
Public Transportation
Marina
Private School
General Information for 147 8th St, New Bedford, Massachusetts 02740
Property TypeResidential Income
Property Sub TypeMulti Family
Price$1,300,000
Price per sqft$226.92
MLS #73269285
Handicap Access / FeaturesNo
List Date2024-07-25
Special Listing ConditionsNo
StateMassachusetts
Street Name8th St
CityNew Bedford
Zip Code02740
CountyBristol
MLS Status
Covered Parking Spaces0
Heating Y/NYes
Heating System
Heat Zones
Sold Date31/10/2024
Property Sub TypeMulti Family
Building Area SourcePublic Records
Building Area Total5729
Building Area Units0
CarportNo
Close Date
Close Price$0
Covered Parking Spaces0
Listing Service
UnparsedAddress147 8th St, New Bedford MA 02740
Zoning
Interior Features for 147 8th St, New Bedford, Massachusetts 02740
* Approx. Living Area Total5,729 sq ft
Living Area Includes BasementNo
Bedrooms17
* # Fireplaces0
Bathrooms (Total)7.5
Full Baths7
* # Half Baths1
* # Rooms
Basement
Heating System
AppliancesNo
Electric
Living Area Disclosure
Living Area Includes BasementNo
Door FeaturesNo
ElectricYes
Electric$0
MLS Area (Major)Center
MLSPIN_BEDRMS_11
MLSPIN_BEDRMS_21
MLSPIN_BEDRMS_3
MLSPIN_BEDRMS_4
MLSPIN_FLRS_1
MLSPIN_FLRS_2
MLSPIN_FLRS_3
MLSPIN_FLRS_4
MLSPIN_F_BTHS_10
MLSPIN_F_BTHS_20
MLSPIN_F_BTHS_3
MLSPIN_F_BTHS_4
MLSPIN_GRE$46,000
MLSPIN_HTE$0
MLSPIN_H_BTHS_10
MLSPIN_H_BTHS_20
MLSPIN_H_BTHS_3
MLSPIN_H_BTHS_4
OffMarketDate04/09/2024
Exterior Features for 147 8th St, New Bedford, Massachusetts 02740
* Approximate Lot Size0.1 acres
Covered Parking Spaces0
Lot FeaturesCleared, Gentle Sloping
* Parking Spaces0
* Sewer Utilities
* Water Utilities
* Year Built1870
Year Built Details
Year Built SourcePublic Records
Construction MaterialsFrame
Exterior Features
Foundation Area
Foundation MaterialsGranite
Approx. Street Frontage
Horse PermittedNo
Horse Amenities
Parking Features
Utilities
Lot Size (Square Feet)4,356 Sqft
Disclosures for 147 8th St, New Bedford, Massachusetts 02740
Buyer Agent Compensation1
ContingencyInspection
FinancingNo
Disclosures
Documents AvailableNo
Exclusions
MLSPIN_COMP_BASED_ONNet Sale Price
MLSPIN_COOP_COMP
MLSPIN_DISCLOSUREY
Lead PaintUnknown
Living Area Disclosure
Living Area Includes BasementNo
Facilitator Compensation
TransactionBrokerCompensationType
BuyerAgencyCompensationType
Financial Information for 147 8th St, New Bedford, Massachusetts 02740
Assessed Value
Real Estate Tax$0
Tax Year
Financial Data SourceNo
Gross Income$188,000
Insurance Expense$0
MLSPIN_LEASE_1
MLSPIN_LEASE_2
MLSPIN_LEASE_3
MLSPIN_LEASE_4
MLSPIN_LEVELS_11
MLSPIN_LEVELS_21
MLSPIN_LEVELS_3
MLSPIN_LEVELS_4
MLSPIN_MGF$0
MLSPIN_MSE$0
MLSPIN_RENT1880
MLSPIN_RENT2860
MLSPIN_RENT3
MLSPIN_RENT4
MLSPIN_RFS$0
MLSPIN_RME$0
MLSPIN_SOLD_PRICE_PER_SQFT$0
NetOperatingIncome$142,000
OperatingExpense$46,000
OriginalListPrice$1,300,000
RENT_FEE_INCLUDESElectric, Gas, Hot Water), Unit 1(heat, Unit 2(heat, Water
TOTAL_RENT1740
WaterSewerExpense$0
Lifestyle Information for 147 8th St, New Bedford, Massachusetts 02740
FireplaceYNNo
Frontage Type
GarageYNNo
Waterview
Pool FeaturesNo
Waterfront Features1 To 2 Mile To Beach, Beach Front, Beach Ownership(public), Ocean
Location information for 147 8th St, New Bedford, Massachusetts 02740
Elementary School
Middle School
High School
NumberOfUnitsTotal17
Marketing History for 147 8th St, New Bedford, Massachusetts 02740
MLSPIN_MARKET_TIME_BROKER45
MLSPIN_MARKET_TIME_PROPERTY45
PurchaseContractDate2024-08-27
Agent Information for 147 8th St, New Bedford, Massachusetts 02740