Great investment opportunity, this six units multi-family is perfectly located right off Main St in the thriving and well established Malden market. Cap rate 6.5%. Great commuter location near the Orange line Oak Grove station, steps away from the MBTA bus stops, and has 3 off-street parking spaces as well, providing flexibility for commute. Well-maintained property with approximately 5,499 sq ft for 6 units total over 3 levels, including 2 One Bedrooms, 3 Studios, and 1 Townhome style Two Bedrooms. The basement level features an on-site laundry room. The property was significantly upgraded in 2024 with high-efficiency heating systems and on-demand hot water, a new roof, a newly installed driveway and walkway, and renovated unit interiors including kitchens, electrical, flooring, and plumbing. Great opportunity for a flexible portfolio addition in a well-established rental market.
- Heating System:
- Baseboard
- Basement:
- Full, Walk-out Access, Concrete
- Parking:
- Off Street
- Appliances:
- Range, Microwave, Refrigerator
- Construction:
- Frame
- Flooring:
- Vinyl, Laminate, Hardwood
- Sewer:
- Public Sewer
- Water:
- Public
- Disclosure
- Garage Parking
- Interior Features:
- Dining Room, Loft, Living Rm/dining Rm Combo, Living Room, Remodeled
- Lead Paint:
- Unknown
- Rent Fee Includes:
- Unit 1(water), Unit 2(water), Unit 3(water), Unit 4(water)
- Market Time:
- 4
- Parking Spaces:
- 3
- Tax Year:
- 2025
- Status:
- Active
- Price Per Sqft:
- $563
- Zoning:
- ResA
- No Units:
- 6
- Orig Price:
- $1,849,000
- LEASE:
- Yes
- Waterfront:
- No
- MlsStatus:
- Active
- City:
- Malden
- State:
- MA
- County:
- Middlesex
- Postal Code:
- 02148
- Longitude:
- W72° 55' 53.4''
- Latitude:
- N42° 26' 3.8''
Residential Income
14-16 Ripley St, Malden, Massachusetts
- Property Type :
- Residential Income
- Listing Type :
- For Sale
- Price :
- $1,849,000
- Bedrooms :
- 10
- Rooms :
- 16
- Total Bathrooms :
- 6
- Full Bathrooms :
- 6
- Square Footage :
- 3,282 Sqft
- Year Built :
- 1885
- Lot Area :
- 0.23 Acre
- Listing ID :
- 73485930
- Stephen E. Robb
- View website
- 617-212-0251
-
srobb@robbenterprises.com
