Good morning everyone! So, I’ve had some deals come in over the last few days. I will also be posting these deals on the deals page as well. Make sure you bring your deals next week at our Christmas in July meeting on July 18th! See all upcoming events for Boston AREIA real estate club on our events page.
Ok so, let’s go through the deals that came across my desk:
70 School Street, JP 2 family, 3/4 beds and 1 bath each. 2 parking spots, laundry hookups in each unit. 2,620 sq ft. $535,000. Good rental income property cash-flowing $3,600-$4,000 a month.
78 Pine Street, Fall River, MA 02720 Commercial Building Uses: Sober House or similar, office building Adjacent to Route 195, 79, 138, near 24 No 21E on File Handicap Accessible, 1st and 2nd Floor Lot 8,599 SF includes 20 space parking lot across the street Built 1917 Location within 1 mile of new courthouse Top floor office has view of River Close to Fall River Heritage State Park 12,228 SF The building is full business zoned. That allows for hotels / rooming house. The City of Fall River does not require a special Sober House license, just a rooming house license. No special permit or variance required. Information from others in the business says they use 200 sq ft per room, including hallways, common kitchen(s) and baths. That would allow for 52 rooms / beds without disturbing the 3rd floor auditorium. If the room charge is $500.00 per month, that’s $26,000 gross income per month. Purchase cost is only $7,692.00 per room.
Rare beachfront land and real estate on the north shore of Boston, Ma – firstname.lastname@example.org
Existing now is a parking lot along with a few older buildings to be torn down and rebuilt. Retail is now renting the street floor space in the existing buildings. This will be a five-phase project consisting of five buildings with 40 units in each building for a total of about 200 units based on the current permitted zoning.
The current property owners have owned the property for 100 years and are in good standing with the town. The assessed value of the property currently is over 3 million and it’s owned free and clear. The owners will sell for 8 million and will get paid on a per unit sold basis. Each of the 5 buildings sold out will generate over $20,000,000. Interested parties, email Bernadette@Bostonareia.com
Make sure you check back at your real estate club deals page
DESIRE. COMMIT. SUCCEED!
Bernadette Trafton, Chief Connector