285 Elm St Brockton, MA 02301

Property Details for 285 Elm St

Year built

1900

Lot size

0.16 lot acres

Property size

4,839 SF

Property type

Commercial real estate

Description

This exceptional 7-unit apartment building in Brockton, MA presents a compelling investment opportunity. Boasting 6,874 square feet of net rentable space across a 4,839 square foot building on a 0.16-acre lot, this 1900-built property offers a strong 6.61% cap rate and a healthy NOI of $69,406. The building comprises five 1-bedroom/1-bathroom units, one 2-bedroom/1-bathroom unit, and one 3-bedroom/1-bathroom unit. Six on-site parking spaces are available for tenants. All units are individually metered for electricity, and gas-fired heat; tenants are responsible for gas-fired hot water (except units 3 & 6). The landlord covers common area electricity, hot water for units 3 & 6, and water/sewer. This transit-oriented location offers convenient access to major roadways (Routes 27, 28, 123, and 24), public transportation (BAT bus routes and the Brockton MBTA Commuter Rail station, 0.9 miles away), and a wealth of amenities. The strong rental market, with over 31,800 people within a 1-mile radius and an average household income exceeding $101,000, ensures high occupancy and potential for rental growth. The property's proximity to downtown Brockton, parks, and Boston (25 miles away) further enhances its appeal. Significant value-add potential exists through market-rate rent increases in the unrenovated units and common areas. This is a rare opportunity to acquire a well-located, income-producing multifamily asset in a high-demand area.

Location Insight

City

Brockton

County

Plymouth

State

Massachusetts

Longitude

-71.03153185

Latitude

42.08129847