46-48 Waverly Place

Melrose, MA 02176

$1,650,000
Price
7
Beds
7
Baths
2,940 Sq. Ft.
$561 / Sq. Ft.
2,940
Sq. Ft.
$561
per Sq. Ft.

Description

This 7-unit multifamily property consists of (7) One-bedroom apartments with (8) off-street parking spaces for tenants to use. This asset is located directly next to the Wyoming Hill MBTA station which makes it very convenient for tenants who are commuting into the city for work or fun. This is the first time the property has been on the market in over 26 years. The rents are currently 40% below market rate, investors have the opportunity to add value through upgrading units and hallways to a more...This 7-unit multifamily property consists of (7) One-bedroom apartments with (8) off-street parking spaces for tenants to use. This asset is located directly next to the Wyoming Hill MBTA station which makes it very convenient for tenants who are commuting into the city for work or fun. This is the first time the property has been on the market in over 26 years. The rents are currently 40% below market rate, investors have the opportunity to add value through upgrading units and hallways to a more modern look and raising rents to market rate. All interested parties will have the opportunity to obtain additional information upon request.
  1. Listed by Bradford Carlson • New England Realty Advisors LLC

Property Details for 46-48 Waverly Place

Town
Melrose
Area
MA-Melrose
Garage Spaces
0
Parking Spaces
8.00
Parking Spaces Total
8
LISTING UPDATED: 12/19/2024 02:48 PM

Property Details for 46-48 Waverly Place

StatusNew
MLS #73320720
Days on Market2
Taxes$9,557 / year
HOA Fees-
Compass TypeMulti Family
MLS TypeMulti-family / 5-9 Family
Year Built1900
CountyMiddlesex County

Building Information for 46-48 Waverly Place

Stories3Residences7Year Built1900Building Size-Lot Size0.15 AC / 6,734 SF

Property Information for 46-48 Waverly Place

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Public Transportation, T-Station
  • Living Area: 2940.0
  • SqFt with Basement: No
  • Total Units: 7
  • Waterfront: No
  • Year Built Details: Approximate
  • Year Built Source: Public Records
Features
Interior Features
  • Basement Features: Concrete Floor
  • Num of Baths: 7.0
  • Num of Full Baths: 7
  • Num of Half Baths: 0
  • Bathrooms Total Decimal: 7.00
  • Bathrooms Total Integer: 7
  • FireplaceYN: No
  • Fireplaces: 0
  • Flooring: Wood
  • SpaYN: No
Exterior Features
  • Construction: Frame
  • Lot Description: Level
  • Roof Material: Shingle
Parking Features
  • Covered Spaces: .00
  • Garage: No
  • Garage Parking: Off-Street
  • Parking Features: Off-Street
  • Parking Features: Off-Street
Utilities
  • Electric: 60 Amps/Less
  • Sewer: City/Town Sewer
  • Water: Public
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
Tax Information
  • Tax ID: 653771
  • Assessments: $962,400
  • Book: 0
  • Tax Year: 2024
  • Zoning: MF 5+
Building / Association Information
Living Characteristics
  • Beds Total: 7
  • Total Living Levels: 3
Other Building Characteristics
  • Foundation: Stone
Income / Expenses
  • Electricity: $2,000.00
  • Annual Expenses Source: Owner
  • GOI: $102,000.00
  • Insurance: $4,700.00
  • GRE: $39,953
  • HTE: $4,500
  • MGF: $4,986
  • MSE: $3,750
  • RFS: $3,600
  • RME: $3,500
  • NOI: $59,695.00
  • Operating Expense: $39,953.00
  • WSE: $3,360.00
Complex & Association Information
  • Adult Community: No
Unit Information
Unit 1 Description
  • Floor U1: 1
  • Lease U1: N
  • Levels U1: 1
Unit 2 Description
  • Floor U2: 2
  • Lease U2: N
  • Levels U2: 1
Rental Info
Rental Info
  • Total Actual Rent: $8,500.00
Market and Agent Information
Sale Info
  • Buyer Broker Comp: 1.5

Property History for 46-48 Waverly Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 46-48 Waverly Place

Taxable ValueLand$399,000Additions$563,400Total$962,400
Tax Record2024$9,557 ($796 / month)
Home Facts
Baths7Total Finished SqFt2,940 SqFtAbove Grade Finished SqFt2,940 SqFtUnfinished Basement SqFt1,248 SqFtStories2Lot Size6,734 SqFtStyleMulti-Family Res (5+ Units)Year Built1900ZoningBA2CountyMIDDLESEXAPNMELR M:0C6 P:0000004

Schools near 46-48 Waverly Place

This home is within Melrose School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 5
Public - K to 5
Public - K to 5
Rating
School
Distance
Hoover Elementary School
PublicK to 5

Winthrop Elementary School
PublicK to 5

Roosevelt Elementary School
PublicK to 5

Lincoln Elementary School
PublicK to 5

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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46-48 Waverly Place is a multi-family home for sale in Melrose, MA 02176. This property was listed for sale on December 19, 2024 by New England Realty Advisors LLC, it's currently listed at $1,650,000. This listing's school district is Melrose School District. Nearby schools include Hoover Elementary School, Winthrop Elementary School and Roosevelt Elementary School. 46-48 Waverly Place is a 7-bed, 7-bath, 2,940 sqft multi-family home built in 1900.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of New England Realty Advisors LLC, Bradford Carlson

The property listing data and information, or the images, set forth herein were provided to MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS. The property listing data and information, and the images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the images, set forth herein.