322 Broadway
$825,000
6
6
2,762
2,762
$299
Sold 1/23/25
Description
Discover the potential of 322 Broadway, a well-located multi-family building featuring 5 units on the edge of Methuen's Historic Downtown. This prime property is just under a mile from tax-free Salem, NH, and minutes away from the vibrant Tuscan Village development. With a 7% Cap Rate and rental upside, this property presents a lucrative opportunity for investors. Current leases are below market rates, offering significant room for rental increases by upgrading unit interiors (1 unit will require...Discover the potential of 322 Broadway, a well-located multi-family building featuring 5 units on the edge of Methuen's Historic Downtown. This prime property is just under a mile from tax-free Salem, NH, and minutes away from the vibrant Tuscan Village development. With a 7% Cap Rate and rental upside, this property presents a lucrative opportunity for investors. Current leases are below market rates, offering significant room for rental increases by upgrading unit interiors (1 unit will require TLC). Situated in a Qualified Opportunity Zone, this property is ideally positioned in a high-demand, supply-constrained residential market. Generous lot with ample space for potential future enhancements or expansions. This property offers an excellent opportunity to capitalize on a growing area with the potential to enhance value through strategic upgrades. Don’t miss out on this investment in a thriving community!
- Listed by Jolmi Minaya • Tower Hill Ventures LLC
Property Details for 322 Broadway
Town
Methuen
AreaMA-Methuen
Garage Spaces1
Parking Spaces12.00
Parking Spaces Total13
LISTING UPDATED: 01/23/2025 01:36 PM
Property Details for 322 Broadway
Status | Sold |
---|---|
MLS # | 73289422 |
Days on Market | 97 |
Taxes | $6,940 / year |
HOA Fees | - |
Compass Type | Multi Family |
MLS Type | Multi-family / 5-9 Family |
Year Built | 1860 |
County | Essex County |
Building Information for 322 Broadway
Stories6Residences5Year Built1860Building Size-Lot Size0.21 AC / 9,060 SF
Property Information for 322 Broadway
Property History for 322 Broadway
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 322 Broadway
Taxable ValueLand$141,600Additions$497,400Total$639,000
Tax Record2024$6,940 ($578 / month)
Home Facts
Baths5.5Total Finished SqFt2,762 SqFtAbove Grade Finished SqFt2,762 SqFtUnfinished Basement SqFt1,234 SqFtStories2Lot Size9,060 SqFtStyleMulti-Family Res (5+ Units)Year Built1860ZoningCBDCountyESSEXAPNMETH M:00612 B:00122 L:00009Fireplace TypeHas Fireplace
Schools near 322 Broadway
This home is within Methuen School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 8 | |||
Public - | 9 to 12 | |||
Private - | K to 8 | |||
Private - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Tenney Grammar School PublicPK to 8 | ||
Methuen High School Public9 to 12 | ||
Our Lady of Mount Carmel School PrivateK to 8 | ||
Presentation of Mary Academy Private9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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