Renovated Two-Unit Income
462 American Legion Highway Revere, MA 02151
462 American Legion Highway, Revere, MA, 02151
$985,000
For Sale
$985,000
Well-maintained two-unit property with updated interiors, multiple bedrooms, and a fully fenced lot with parking.
Property Size3,050 SF
Price / SF$322.95
Days on Market129
Property Features for 462 American Legion Highway
General Information
- Standard status
- Active
- Size
- 3,050 SF
- Property subtype
- Multi-family / 2 Family
Building Details
- Year Built
- 1939
Listing agency
Broad Sound Real Estate, LLC
(978) 423-7782
Listed by
Juan Cano · License #9581120
(978) 423-7782
Source
Compass
Added: Mar 17 Updated: Jul 22 at 6:00PM Checked: Jul 22 at 6:00PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Broad Sound Real Estate, LLC
Investment Insights
Based on property information with market context.
462 American Legion Highway in Revere presents a well-maintained two-unit residential income property. The first unit is a renovated 2-bedroom, 1-bath home currently furnished and operating as an Airbnb, with modern mini-split heating and cooling, a spacious kitchen, quartz countertops and peninsula, and large closets.
The second unit is a generously sized, two-level 3-bedroom layout that lives like a single family home, featuring a living room and dining room, a large kitchen, hardwood floors, and oversized bedrooms.
The property is set on a large fully fenced lot with plenty of parking, and is conveniently located near Route 1 and Route 1A, just minutes from Market Basket, BJ’s, banks, restaurants, and shopping.
The second unit is a generously sized, two-level 3-bedroom layout that lives like a single family home, featuring a living room and dining room, a large kitchen, hardwood floors, and oversized bedrooms.
The property is set on a large fully fenced lot with plenty of parking, and is conveniently located near Route 1 and Route 1A, just minutes from Market Basket, BJ’s, banks, restaurants, and shopping.
Key Highlights
- Two‑unit multi‑family built in 1939 with 2 total full baths and a full basement
- First unit: renovated 2‑bedroom, 1‑bath, furnished and operating as an Airbnb
- Airbnb unit generated approximately $35,000 in reservations over the past 9 months
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $87.8k | $28.80 |
| − Vacancy | −$4.8k | −$1.58 |
| EGI | $83.0k | $27.22 |
| − OpEx | −$24.9k | −$8.16 |
| NOI | $58.1k | $19.05 |
3,050 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$830.1K
$726.3K – $968.4K
NOI $58,106 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$756.9K
$662.3K – $883.0K
NOI $52,982 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,391 @ 7.0% cap · market cap 12.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained two-unit property with updated interiors, multiple bedrooms, and a fully fenced lot with parking.
Where is this duplex located?
The property is located at 462 American Legion Highway Revere, MA.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Two‑unit multi‑family built in 1939 with 2 total full baths and a full basement; First unit: renovated 2‑bedroom, 1‑bath, furnished and operating as an Airbnb; Airbnb unit generated approximately $35,000 in reservations over the past 9 months
