28 Pond St Weymouth, MA 02190

Property Details for 28 Pond St

Year built

1890

Lot size

0.20 lot acres

Property size

4,648 SF

Property type

Commercial real estate

Description

This exceptional multifamily investment opportunity presents a three-story, four-unit apartment building situated on a 0.2-acre lot at 28 Pond Street in Weymouth, Massachusetts. Boasting 2,692 square feet of net rentable space within a 4,648 square foot building, this property offers a compelling 6.00% cap rate and a strong NOI of $58,452. The building comprises two one-bedroom/one-bathroom units and two studio units, all currently at 100% occupancy. Ten off-street parking spaces are available for tenants. The property benefits from separately metered electricity for all units, with studio units also having separately metered heat and hot water. Landlord responsibilities include heat and hot water for the one-bedroom units, common electric, and domestic water and sewer. Located just seconds from Main Street, this property enjoys proximity to Columbian Square, offering convenient access to shops and restaurants. Public transportation is readily available via nearby MBTA bus routes and the South Weymouth MBTA Station (1.5 miles), providing easy access to Boston. The property is also within close proximity to South Shore Hospital, Weymouth High School, and major roadways, including Route 3 and Route 53. Current rents are below market value, presenting a significant opportunity for future income growth through potential rent increases. This well-maintained property, on the market for the first time in over 13 years, is situated in a highly desirable, supply-constrained market within a thriving South Shore community. The asking price is $975,000, representing $243,750 per unit. The property is offered fee simple. This is a rare chance to acquire a stabilized multifamily investment in a prime location with significant upside potential.