ATTENTION INVESTORS: Massive 4 Family w/a 2 Car Detached Garage and 5336 sf of living space, offering enormous potential for increased revenue! Living area is comparable to a 5-6 fam. This well maintained home has had the same owners for 27 years and shows pride of ownership. Units have been updated thru the years including K & B's, along w/exterior & interior improvements. (3) boilers updated, newer H20 tanks, 2nd fl units have CB sub panels, lg walkout basement, add'l 2 car tandem pkg spaces and composite deck in the rear. (2) units delivered vacant & Owners unit once housing is obtained. see attached proforma for market rents & income potential. Separate Utilities, Layouts: #118 & 116-#2 are 4 Br's, 1 BA, Living rm, dining area, Fin EP, Units 118 & 116# 1 are 3 Br's, 1 BA, Living rm, dining area, EP's. Just a short walk to public transportation- Bus:112, Silver line & Commuter Rail. Easy access to Logan, 1A, Rte 16, Downtown Boston and more
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Last Updated: November 28th, 2024 at 6:08am
Highway Access
Public School
Shopping
Park
Public Transportation
General Information for 116-118 Cottage St, Chelsea, Massachusetts 02150
Property TypeResidential Income
Property Sub TypeMulti Family
Price$1,550,000
Price per sqft$290.48
MLS #73308315
Handicap Access / FeaturesNo
List Date2024-10-31
Special Listing Conditions
StateMassachusetts
Street NameCottage St
CityChelsea
Zip Code02150
CountySuffolk
MLS Status
Covered Parking Spaces2
Heating Y/NYes
Heating System
Heat Zones4
Sold Date06/12/2024
Property Sub TypeMulti Family
Building Area SourcePublic Records
Building Area Total5336
Building Area Units0
CarportNo
Close Date
Close Price$0
Covered Parking Spaces2
Listing Service
UnparsedAddress116-118 Cottage St, Chelsea MA 02150
Zoning
Interior Features for 116-118 Cottage St, Chelsea, Massachusetts 02150
* Approx. Living Area Total5,336 sq ft
Living Area Includes BasementNo
Bedrooms14
* # Fireplaces0
Bathrooms (Total)4
Full Baths4
* # Half Baths0
* # Rooms
Basement
Heating System
Appliances
0
Electric
Living Area DisclosureDoes not include 3 finished EP's (1) unfinish/ cit
Living Area Includes BasementNo
Door Features
ElectricYes
Electric$0
MLS Area (Major)
MLSPIN_BEDRMS_13
MLSPIN_BEDRMS_24
MLSPIN_BEDRMS_34
MLSPIN_BEDRMS_43
MLSPIN_FLRS_1
MLSPIN_FLRS_2
MLSPIN_FLRS_3
MLSPIN_FLRS_4
MLSPIN_F_BTHS_13
MLSPIN_F_BTHS_24
MLSPIN_F_BTHS_34
MLSPIN_F_BTHS_43
MLSPIN_GRE$0
MLSPIN_HTE$0
MLSPIN_H_BTHS_10
MLSPIN_H_BTHS_20
MLSPIN_H_BTHS_3 0
MLSPIN_H_BTHS_40
OffMarketDate22/11/2024
Exterior Features for 116-118 Cottage St, Chelsea, Massachusetts 02150
* Approximate Lot Size0.14 acres
Covered Parking Spaces2
Lot FeaturesGentle Sloping
* Parking Spaces2
* Sewer Utilities
* Water Utilities
* Year Built1920
Year Built Details
Year Built SourcePublic Records
Construction MaterialsFrame
Exterior Features
Foundation Area
Foundation MaterialsBlock,Brick/Mortar
Approx. Street Frontage
Horse PermittedNo
Horse Amenities
Parking Features
Utilities
Lot Size (Square Feet)6,000 Sqft
Disclosures for 116-118 Cottage St, Chelsea, Massachusetts 02150
Buyer Agent Compensation
ContingencyPending P&S
Financing
Disclosures
Documents Available
Exclusions
MLSPIN_COMP_BASED_ON
MLSPIN_COOP_COMP
MLSPIN_DISCLOSUREN
Lead PaintUnknown
Living Area DisclosureDoes not include 3 finished EP's (1) unfinish/ cit
Living Area Includes BasementNo
Facilitator Compensation
TransactionBrokerCompensationType
BuyerAgencyCompensationType
Financial Information for 116-118 Cottage St, Chelsea, Massachusetts 02150
Assessed Value
Real Estate Tax$0
Tax Year
Financial Data Source
Gross Income$32,400
Insurance Expense$0
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_RENT10
MLSPIN_RENT20
MLSPIN_RENT30
MLSPIN_RENT42700
MLSPIN_RFS$0
MLSPIN_RME$0
MLSPIN_SOLD_PRICE_PER_SQFT$0
NetOperatingIncome$32,400
OperatingExpense$0
OriginalListPrice$1,550,000
RENT_FEE_INCLUDESUnit 1(water), Unit 2(water), Unit 3(water), Unit 4(water)
TOTAL_RENT2700
WaterSewerExpense$0
Lifestyle Information for 116-118 Cottage St, Chelsea, Massachusetts 02150
FireplaceYNNo
Frontage Type
GarageYNNo
Waterview
Pool Features
Waterfront Features1 To 2 Mile To Beach, Beach Front, Beach Ownership(public), Ocean
Location information for 116-118 Cottage St, Chelsea, Massachusetts 02150
Elementary School
Middle School
High School
NumberOfUnitsTotal4
Marketing History for 116-118 Cottage St, Chelsea, Massachusetts 02150
MLSPIN_MARKET_TIME_BROKER22
MLSPIN_MARKET_TIME_PROPERTY22
PurchaseContractDate2024-11-08
Agent Information for 116-118 Cottage St, Chelsea, Massachusetts 02150