46-48 Waverly Place Melrose, MA 02176

Building Details

Year Built

1900

Listing office New England Realty Advisors LLC b***@nerealtyadvisors.com Show Phone

Listing date Nov 25, 2025

Source Nerealtyadvisors

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Investment Insights

Based on property information with market context.

The Waverly Place Apartments, a seven-unit multifamily property in Melrose, Massachusetts, is available for sale. The property features seven one-bedroom apartments and eight off-street parking spaces for tenant use. Situated next to the Wyoming Hill MBTA station, the location provides convenient access for commuters traveling into the city. This is the first time this property has been on the market in over 26 years. Rents are currently 40% below market rate, presenting investors with a value-add opportunity through unit and hallway upgrades to achieve a more modern aesthetic and increase rents to market rates. Waverly Place Apartments is located in Melrose, north of Boston, offering a blend of small-town charm and urban convenience. The Wyoming Hill MBTA Commuter Rail station provides a 10-15 minute train ride into North Station. Boston Logan International Airport is 11.5 miles away, and I-95 is 2.6 miles away, facilitating travel. The property is also near restaurants and bars in downtown Melrose.

Key Highlights

• Directly next to Wyoming Hill MBTA station for easy commuting to Boston.
• Significant value‑add opportunity through unit upgrades and rent increases (40% below market).
• Off‑street parking available for tenants.

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FAQs

What type of property is this?

Apartment building - Seven-unit multifamily property near Wyoming Hill MBTA station.

Where is this apartment building located?

The property is located at 46-48 Waverly Place Melrose, MA.

What is the asking price?

The asking price for this property is $1,650,000.

What are key features of this property?

This property features: Directly next to Wyoming Hill MBTA station for easy commuting to Boston.; Significant value‑add opportunity through unit upgrades and rent increases (40% below market).; Off‑street parking available for tenants.