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    2 Granite St Malden, MA 02148

    For Sale
    $1,850,000

    Seven-unit apartment building in Malden with value-add potential.

    Property size:
    4,208 SF

    Property Features for 2 Granite St

    General Information

    Size
    4,208 SF

    Building Details

    Year built
    1911

    Source: Brad Carlson Agent Brad Carlson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Malden Apartments: Value-Add Opportunity

    The Granite Street Apartments, located in Malden, Massachusetts, feature seven units with a mix of one-bedroom and studio floor plans. There are six one-bedroom units and one studio. Many of the units and hallways have been upgraded with modern finishes. The property offers a value-add opportunity. All rents are currently close to 15% below market rate, presenting investors with the opportunity to increase rents to market rate without major capital improvements. There is also an entire vacant third-floor space that could be converted into more apartments. The property includes coin-op laundry. Malden is a diverse city located just north of Boston, Massachusetts. Malden is known for its vibrant downtown area, it offers a mix of residential neighborhoods, historic sites, and a thriving arts and culture scene. The city boasts a strong sense of community, with a diverse population and a rich history dating back to the 17th century. Malden is easily accessible to Boston and other surrounding areas, making it an attractive option for commuters and those seeking a suburban lifestyle with urban conveniences. The property size is 4,208 square feet.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Malden
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.0451977
    Latitude
    42.4352818

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    FAQs

    What type of property is this?
    Apartment building - Seven-unit apartment building in Malden with value-add potential.
    Where is this apartment building located?
    The property is located at 2 Granite St Malden, MA.
    What is the asking price?
    The asking price for this property is $1,850,000.
    What are key features of this property?
    This property features: - Significant rent increase potential (15% below market) without major renovations.; - Value-add opportunity through third-floor space conversion into additional apartments.; - Upgraded units with modern finishes enhance tenant appeal.
    (781) 334-8044
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2 Granite St Malden, MA 02148
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