322 Broadway, Methuen MA 01844 – 6 bed 6 bath For Sale – 73289422
Overview
- Updated On:
- January 23, 2025
-
- 73289422
- 6 Bedrooms
- 5.5 Bathrooms
- 1 Garage Space
- 12 Non-Garage Parking Spaces
- 1860
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 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!
Property Listing Details
Overview
| MLS Status | Closed |
|---|---|
| Price | $ 825,000 |
| Living Area | 2,762.00 ft2 |
| Bedrooms | 6 |
| Total Rooms | 14 |
|---|---|
| Listing MLS ID | 73289422 |
| Days on Market | 97 |
| Bathrooms | 5.5 |
Unit Information
| Bedrooms | 6 |
|---|---|
| Full Bathrooms | 5 |
| Half Bathrooms | 1 |
| Cooling | Window Unit(s) |
| Heating | Baseboard,Natural Gas |
| Uncovered Parking | 12 |
| Garage Parking | 1 |
| Water View | |
| Unit Level |
| Common Walls | |
|---|---|
| Laundry Features | |
| Lead Paint | Unknown |
| Outdoor Space Available | |
| Living Area Includes Basement | Full,Walk-Out Access,Interior Entry,Concrete,Unfinished |
| Patio And Porch Features | Deck |
| Parking Features | Paved Drive,Off Street,Paved |
| Waterview Features | |
| Flooring | Vinyl,Carpet,Hardwood,Tile |
Building Information
| Building Name | |
|---|---|
| Units in Building | 5 |
| Pets Allowed | |
| Association Amenities | |
| Pool Features | |
| Waterfront Features | |
| Association Fee Includes | |
| Construction Materials | Frame,Stone |
| Year Built | 1860 |
|---|---|
| Security Features | |
| Sewer | Public Sewer |
| Spa Features | |
| Structure Type | |
| Water Source | Public |
| Basement | Full,Walk-Out Access,Interior Entry,Concrete,Unfinished |
| Roof | Shingle |
Additional Details
| Community Features | Public Transportation,Shopping,Park,Walk/Jog Trails,Golf,Highway Access,Private School,Public School |
|---|---|
| Disclosures | |
| Last Updated | 2025-01-23T18:36:00.000Z |
| Building Area Source | Public Records |
| MLS PIN Page | |
| Parcel Number | M:00612 B:00122 L:00009,2040582 |
| Original List Price | 850000 |
| Listing Office | tower hill ventures llc |
| Tax Annual Amount | 6940 |
|---|---|
| Tax Assessed Value | 639000 |
| Tax Book Number | 9228 |
| Tax Year | 2024 |
| Year Built Details | Approximate |
| Year Built Source | Public Records |
| Zoning | CBD |
| Listing Agent | jolmi minaya |
Amenities and Features
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322 Broadway, Methuen MA 01844 | © 2024 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS ARE DEEMED RELIABLE, BUT SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. THE NUMBER OF BEDROOMS LISTED ABOVE IS NOT A LEGAL CONCLUSION. EACH PERSON SHOULD CONSULT WITH HIS/HER OWN ATTORNEY, ARCHITECT OR ZONING EXPERT TO MAKE A DETERMINATION AS TO THE NUMBER OF ROOMS IN THE UNIT THAT MAY BE LEGALLY USED AS A BEDROOM. EQUAL HOUSING OPPORTUNITY.
322 Broadway, Methuen MA 01844 – 6 bed 6 bath For Sale – 73289422
$ 825,000
Status: Closed
322 Broadway, Methuen MA 01844, Methuen, , Essex 01844
Country: US
Property Overview
MLS #: 73289422
Type: 5-9 Family /
Action: Residential Income
Year Built: 1860 (Approximate, Source: Public Records, Effective: )
Living Area: 2,762.00 ft2 (Total: 2762 Square Feet, Source: Public Records)
Lot Size: 0.21 ft2 (Area: 0.21 Acres, SqFt: 9060)
Total Rooms: 14
Condition:
Availability:
Building Name:
Interior Features
Bedrooms: 6 (Main Level: )
Bathrooms: Total: 5.5 (Full: 5, Half: 1, Decimal: 5.5, Main Level: )
Basement: Full,Walk-Out Access,Interior Entry,Concrete,Unfinished
Fireplaces: 1 ()
Flooring: Vinyl,Carpet,Hardwood,Tile
Laundry:
Window Features:
Door Features:
Accessibility:
Entry: Level , Location:
Other Equipment:
Construction & Design
Style:
Materials: Frame,Stone
Foundation: Stone (Area: )
Roof: Shingle
Stories: 6 ()
Common Walls:
Body Type:
Utilities & Green Features
Heating: Baseboard,Natural Gas
Cooling: Window Unit(s)
Water Source: Public
Sewer: Public Sewer ()
Utilities: for Gas Range
Electric: (Expense: 3600)
Gas:
Energy Certificate:
Green Energy Efficient:
Green Energy Generation:
Green Indoor Air Quality:
Green Water Conservation:
Insulation:
Exterior & Lot Features
Garage Spaces: 1
Covered Spaces: 1
Parking Total: 12
Parking Features: Paved Drive,Off Street,Paved
Pool:
Spa:
Patio/Porch: Deck
Fencing:
Lot Features:
View: (, Waterview Y/N: )
Waterfront:
Road Frontage: Public ()
Road Surface: Paved
Road Responsibility: Public Maintained Road
Other Structures:
Horse Amenities:
Wooded Area:
Pasture Area:
Cultivated Area:
Additional Parcels: (Number: )
Outdoor Space:
Community & Association
Community Features: Public Transportation,Shopping,Park,Walk/Jog Trails,Golf,Highway Access,Private School,Public School
Association Fee: ()
Fee Includes:
Association Amenities:
Pets Allowed:
Schools: E: , M: , H:
Zoning: CBD ()
MLS Area: Major: , Minor:
Management:
Optional Fee: (Includes: )
Property 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 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!
Room Details
Living Room (): x ( sqft) - Features:
Dining Room (): x ( sqft) - Features:
Kitchen (): x ( sqft) - Features:
Master Bedroom (): x ( sqft) - Features:
Master Bathroom: Features:
Laundry Dimensions:
Multi-Unit Information (if applicable)
Total Units: 5
Units Owner Occupied:
Unit 1: Beds: 1, Full Baths: 1, Half Baths: 1, Levels: 1, Rent: 1250, Lease: N
Unit 2: Beds: 1, Full Baths: 1, Half Baths: 0, Levels: 1, Rent: 1500, Lease: N
Unit 3: Beds: 1, Full Baths: 1, Half Baths: , Levels: , Rent: 925, Lease: N
Unit 4: Beds: 2, Full Baths: 1, Half Baths: 0, Levels: 1, Rent: 1850, Lease: N
Complex Complete:
Unit Building:
Financial & Lease Information
Tax Annual Amount: 6940 (Year: 2024)
Tax Assessed Value: 639000
Tax Block/Lot/Book/Map: / / 9228 /
Parcel Number: M:00612 B:00122 L:00009,2040582
Special Licenses:
Current Financing: Private
Gross Income: 84900 (Scheduled: 3600)
Net Operating Income: 62260
Operating Expense: 22640 (Water/Sewer: 2000, Insurance: 6500)
Financial Data Source: Estimated,Owner
APOD Available: Yes
Tenant Pays:
Rent Includes: Unit 1(Heat,Electric,Gas,Water,Hot Water),Unit 2(Heat,Electric,Gas,Water,Hot Water),Unit 3(Heat,Electric,Gas,Water,Hot Water),Unit 4(None)
Total Actual Rent: 7075
Lease Term: (Existing Type: )
Deposit Required: (Security: , First Month: , Last Month: )
Insurance Required:
References Required:
Listing & Agent Information
Listing Agent: (MLS ID: CN236692) / Team: CN236692
Listing Office: (MLS ID: AN7919)
Agent (Property):
Buyer Agent MLS ID: CN236692
Buyer Office MLS ID: AN7919
Listing Agreement: Exclusive Right To Sell
Listing Contract Date: 2024-09-12
Expiration Date: 1900-01-01
Original List Price: 850000
Price Per SqFt (List): 298.7
Market Time (Property): 97 (Broker: 97, Prev Broker: , Prev Property: 0)
MLS Status: Sold
Possession:
Directions: Use GPS
Disclosures: , N
Lead Paint: Unknown
Title 5:
Exclusions:
Contingency: Pending P&S
Special Listing Conditions:
Lender Owned:
Short Sale Lender Approval Required:
Home Warranty Y/N:
Documents Available: (Count: )
Showings Deferral Date:
Open House Flag:
Listing Alert: No
Square Feet Disclosures: (Incl. Base: No, Other: )
Master Book/Page: / (Page: 59)
Sale Information (if applicable)
Close Date: 2025-01-23
Close Price: 825000
Price Per SqFt (Sold): 298.7
Anticipated Sold Date: 2025-01-31T05:00:00.000Z
Concessions Amount:
Purchase Contract Date: 2024-12-02
Sold vs Rent:
System Information
Property ID: 1242782
Modification Timestamp: 2025-01-23T18:36:00.000Z
Bridge Modification Timestamp: 2025-01-23T18:36:33.574Z
Original Entry Timestamp: 2024-09-12T18:22:00.000Z
Status Change Timestamp: 2025-01-23T18:36:00.000Z
Off Market Date: 2024-12-17
Development Status:
Business Type:
