Rarely does a stabilized four-family come to market with this combination of location, income, and upside. Positioned steps from Cedar Park and the commuter rail, this well-maintained asset delivers immediate cash flow with a clear value-add runway. The building offers 4,154 sq ft across four fully occupied units: three identical 1-bed/1-bath apartments and one, two-level 3-bed/1-bath renovated within the last year. The total rent income is $8,925/month, major systems have been upgraded and utilities separated out to each unit. Cosmetic upgrades for the two, first floor units present a straightforward path to bring rents to market upon turnover. Four off-street parking spaces, coin-op laundry, and consistent capital improvements over the past decade round out a compelling profile. For the long-term holder or condo converter, this is the kind of north-of-Boston multifamily with lots of potentials hard to overlook.
- Heating System:
- Unit Control, Baseboard, Natural Gas
- Basement:
- Partial, Walk-out Access, Unfinished, Concrete
- Parking:
- Off Street, Paved Drive
- Appliances:
- Disposal, Range, Dishwasher, Refrigerator, Range Hood
- Construction:
- Frame, Stone
- Flooring:
- Hardwood
- Sewer:
- Public Sewer
- Water:
- Public
- Disclosure
- Garage Parking
- Interior Features:
- Kitchen, Storage, Bathroom With Tub & Shower, Pantry, Living Room, Remodeled
- Lead Paint:
- Unknown
- Road Type:
- Paved
- Rent Fee Includes:
- Unit 1(water), Unit 2(water), Unit 3(water), Unit 4(water)
- High School:
- Melrose High
- Market Time:
- 4
- Parking Spaces:
- 4
- Tax Year:
- 2025
- Status:
- Active
- Price Per Sqft:
- $382
- Zoning:
- URA
- No Units:
- 4
- Orig Price:
- $1,585,000
- LEASE:
- Yes
- Waterfront:
- No
- MlsStatus:
- Active
- City:
- Melrose
- State:
- MA
- County:
- Middlesex
- Postal Code:
- 02176
- Longitude:
- W72° 55' 47.3''
- Latitude:
- N42° 27' 27''
Residential Income
18-20 North High Street, Melrose, Massachusetts
- Property Type :
- Residential Income
- Listing Type :
- For Sale
- Price :
- $1,585,000
- Bedrooms :
- 7
- Rooms :
- 17
- Total Bathrooms :
- 4
- Full Bathrooms :
- 4
- Square Footage :
- 4,154 Sqft
- Year Built :
- 1900
- Lot Area :
- 0.11 Acre
- Listing ID :
- 73530094
- Stephen E. Robb
- View website
- 617-212-0251
-
srobb@robbenterprises.com