5-7 Mt Vernon Street

Fitchburg, MA 01420

$500,000
Last Sold Price
7
Beds
5
Baths
3,414 Sq. Ft.
$146 / Sq. Ft.
3,414
Sq. Ft.
$146
per Sq. Ft.

Description

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 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.
  1. Listed by Michelle Peterson • Elm Grove Realty, LLC

Property Details for 5-7 Mt Vernon Street

Town
Fitchburg
Area
MA-Fitchburg
Garage Spaces
0
Parking Spaces
5.00
Parking Spaces Total
5
LISTING UPDATED: 12/14/2024 08:08 AM

Property Details for 5-7 Mt Vernon Street

StatusSold
MLS #73309769
Days on Market27
Taxes$6,356 / year
HOA Fees-
Compass TypeMulti Family
MLS TypeMulti-family / 5+ Family - 5+ Units Up/Down
Year Built1900
CountyWorcester County

Building Information for 5-7 Mt Vernon Street

Stories9Residences5Year Built1900Building Size-Lot Size0.10 AC / 4,399 SF

Property Information for 5-7 Mt Vernon Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Public Transportation, Shopping, Swimming Pool, Tennis Court, Park, Walk/Jog Trails, Golf Course, Medical Facility, Laundromat, Bike Path, Highway Access, House of Worship, Private School, Public School, University
  • Current Financing: Cash
  • Living Area: 3414.0
  • SqFt with Basement: No
  • Total Units: 5
  • Waterfront: No
  • Water View: No
  • Year Built Details: Actual
  • Year Built Source: Public Records
Features
Interior Features
  • Appliances: Range, Refrigerator
  • Basement Features: Full, Walk Out, Concrete Floor
  • Num of Baths: 5.0
  • Num of Full Baths: 5
  • Num of Half Baths: 0
  • Bathrooms Total Decimal: 5.00
  • Bathrooms Total Integer: 5
  • FireplaceYN: No
  • Fireplaces: 0
  • Flooring: Wood, Vinyl, Carpet, Hardwood
  • Interior Features: Living Room, Kitchen
  • SpaYN: No
Exterior Features
  • Construction: Frame
  • Exterior Features: Rain Gutters
  • Exterior Features: Covered Patio/Deck
  • Patio And Porch Features: Covered
  • Roof Material: Shingle, Slate
Parking Features
  • Covered Spaces: .00
  • Garage: No
  • Garage Parking: Paved Drive, Off-Street, Improved Driveway
  • Open Parking: Yes
  • Parking Features: Paved Drive, Off-Street, Improved Driveway
  • Parking Features: Off-Street, Improved Driveway
Utilities
  • Heating: Natural Gas, Electric
  • Heating: Yes
  • Sewer: City/Town Sewer
  • Utility Connections: for Gas Range
  • Water: Public
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
  • Road Frontage Type: Public
  • Road Responsibility: Public Maintained Road
  • Road Surface Type: Paved
  • Disclosures: Town wants to see 8 parking spaces seller believes a lease stating tenant needs to secure parking in a local parking garage will suffice.
Tax Information
  • Listing Terms: Contract
  • Assessments: $378,400
  • Block: 69
  • Book: 8339
  • Map: 43
  • Tax Year: 2024
  • Zoning: DB
Building / Association Information
Living Characteristics
  • Beds Total: 7
  • Total Living Levels: 9
Other Building Characteristics
  • Foundation: Stone, Brick/Mortar
  • Heat Units: 5
Income / Expenses
  • Electricity: $1,817.00
  • Annual Expenses Source: Owner
  • GOI: $29,220.00
  • Insurance: $4,500.00
  • GRE: $7,851
  • NOI: $21,369.00
  • Operating Expense: $7,851.00
  • WSE: $1,534.00
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: 1
  • Lease U2: N
  • Levels U2: 1
Unit 3 Description
  • Floor U3: 2
  • Lease U3: Y
  • Levels U3: 1
Unit 4 Description
  • Floor U4: 2
  • Lease U4: N
  • Levels U4: 1
Rental Info
Rental Info
  • Total Actual Rent: $24,350.00

Property History for 5-7 Mt Vernon Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 5-7 Mt Vernon Street

This home is within Fitchburg School District.
Rating
School
Type
Grades
Distance
Public - 1 to 5
Public - 1 to 5
Public - 6 to 8
Public - 6 to 8
Rating
School
Distance
Crocker Elementary School
Public1 to 5

Reingold Elementary School
Public1 to 5

Arthur M Longsjo Middle School
Public6 to 8

Memorial Middle School
Public6 to 8

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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

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 Elm Grove Realty, LLC, Michelle Peterson

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.