285 Elm St, Brockton, MA 02301
- Commercial real estate
- 4,839 SF
- 0.16 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 285 Elm St
- Year built
- 1900
- Lot size
- 0.16 lot acres
- 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.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Brockton
- County
- Plymouth
- State
- Massachusetts
- Longitude
- -71.03153185
- Latitude
- 42.08129847
