Multi-Family for Sale: 5-7 Mt. Vernon, Fitchburg, MA 01420 SOLD

7 beds
5 full baths
3,414 sqft
$500,000
$500,000
5-7 Mt. Vernon, Fitchburg, MA 01420 SOLD
7 beds
5 full baths
3,414 sqft
$500,000
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Selling Price: $500,000
Original List Price: $550,000
Sold at 90.9% of list price
Sold Date: 12/13/2024

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Type Multi-Family
Beds 7
Total Baths 5 full baths
Square Feet 3,414 sqft
Lot Size 0.10 acres
Year Built 1900
City Fitchburg
County Worcester
MLS 73309769
Status Closed
DOM 38 days
This investment property is a turnkey, 5-unit building near downtown Fitchburg. It is comprised of four one-bedroom apartments and one three-bedroom apartments. This building has seen capital improvements and cost-saving measures, including aluminum siding, several upgraded windows to a vinyl replacement, some unit renovations, partial roof replacement, foundation pointing, and electric water heater replacement. Two apartments will be conveyed vacant for a buyer to establish their rental income. This property is a perfect investment for someone looking for a stable building that can produce a solid return with its low operating expenses, as all tenants pay for their heat and electricity. An estimated proforma shows the ability to gross $66,000 in 2024. With the proper rental income and additional building improvements, this property will surely turn a profit for any investor.

Lot & Building Features

Appliances Range, Refrigerator
Construction Frame
Heating Electric, Natural Gas
Sewer Public Sewer
Tax Year 2024
Taxes Paid $6,356
Water Public
Foundation Brick/Mortar, Stone
Exterior Features Rain Gutters
Interior Features Kitchen, Living Room
Roof Shingle, Slate
Full Baths 5
Parking Driveway, Paved Drive, Off Street
Total Rooms 17
Basement Feature Concrete, Walk-Out Access, Full
Garage Spaces 0

Price History of 5-7 Mt. Vernon

Date Name Price Difference
11/05/2024 Listing Price $500,000 N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.

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Inquire about this property

Photo of Carmen Iannuccilli
Direct: 508-269-8754
Office
240 Ocean Blvd
Seabrook Beach, NH 03874
603-474-3401
Listed by Elm Grove Realty, LLC, Michelle Peterson
Sold by Berkshire Hathaway HomeServices Town and Country Real Estate, Faiyaz Chatiwala
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Listing information courtesy of: Elm Grove Realty, LLC

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