640 River Street, Boston, Massachusetts 02126

$1,600,000
12
BD
6
BA
5,448
SqFt
List Price
$1,600,000
MLS#
72816650
Bedrooms
12
Full Bathrooms
6
Sq. Ft
5,448
Lot Size
7,797
County
Suffolk
Year Built
1920
Status
ACTIVE

Property Description

Very well maintained 6 family in a great location generating very consistent rental income today with the potential for substantial rental increases without any capital improvements required. This 6 family has all 4 room, 2 bed and 1 bath units with 5 of the 6 units currently rented to subsidized tenants. New owner will benefit from the long time current owner empowering his property manager to maintain this property the right way. With off street parking and well laid out units this property currently generates over ten thousand five hundred dollars a month. However, recent HUD increases in Mattapan have paved the way for this property to see a jump of close to two thousand dollars a month simply by increasing the current subsidized tenants up to the new payment standard. Allows a buyer to pursue this property being offered at the current market value and see a significant increases in value shortly after purchase simply via paperwork and nothing else.

Additional Information

Days on Market
19
Taxes
$8,964
Tax Year
2020
Assessment
848900
Basement
Yes
Basement Features
Full
Hotwater
Natural Gas
Lot Description
Other (See Remarks)
Parking Spaces
6
Acres
0.18
Price Per Sqft
$293
Utilityconnections
for Gas Range
Disclosures
All group showings will be listed as open houses, buyers need to be registered in advance

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Sheila Traphagen from Bridgestone Properties, LLC

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