80 Lowell St Methuen, MA 01844
12-unit apartment building near I-93 with value-add potential.
Property size:
9,399 SFProperty Features for 80 Lowell St
General Information
- Size
- 9,399 SF
Building Details
- Year built
- 1970
Source:
Nerealtyadvisors
Listing Agent: Brad Carlson
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Methuen Multifamily Investment Opportunity
The Lowell Street Apartments, located at 80 Lowell St in Methuen, MA, present a multifamily investment opportunity. Constructed in 1970, this garden-style building comprises 12 units: 11 two-bedroom apartments and 1 one-bedroom apartment. Each apartment has been upgraded with modern kitchens, bathrooms, and hardwood floors. Current rents are below market rate, offering investors the potential to increase value by raising rents with minimal capital improvements. Eight of the 12 units are tenant-at-will, allowing for immediate rent adjustments upon acquisition. The property includes off-street parking and coinless laundry income. Situated just 1 mile from I-93, the asset provides convenient access to major retailers. Methuen, Massachusetts, located in the Merrimack Valley near the New Hampshire border, is approximately 30 miles north of Boston. The city benefits from its location at the junction of Interstate 93 and Interstate 495, along with Route 213, facilitating convenient commuting and commerce. Methuen features a blend of industrial history and modern development, including landmarks such as the Nevins Memorial Library and the Methuen Memorial Music Hall, as well as retail and commercial areas like The Loop shopping center.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Methuen
- County
- Essex
- State
- Massachusetts
- Longitude
- -71.218951
- Latitude
- 42.7055431
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FAQs
What type of property is this?
Apartment building - 12-unit apartment building near I-93 with value-add potential.
Where is this apartment building located?
The property is located at 80 Lowell St Methuen, MA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: - Opportunity to increase rents to market rate with minimal capital improvements.; - 8 out of 12 units are tenants at will, allowing for immediate rent increases.; - All apartments have been upgraded with modern kitchens, bathrooms, and hardwood floors.