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72-74 Thornton St Revere, MA 02151
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Key Details
Sold Price $1,740,000
Property Type Multi-Family
Sub Type 5-9 Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,237 sqft
Price per Sqft $278
MLS Listing ID 73255322
Bedrooms 16
Full Baths 6
Year Built 1920
Annual Tax Amount $15,497
Tax Year 2024
Lot Size 4,791 Sqft
Property Sub-Type 5-9 Family
Property Description
72-74 Thornton St is a three-story building and contains a total of six units, consisting of four 3-Bedroom/1-Bathroom units and two 2-Bedroom/1-Bathroom units. The Property is well-located in a renter-dominated market and is typically fully occupied with low historical vacancy. There is a limited supply of multifamily housing in Revere with a high demand for rental units, given its location along the shore and proximity to downtown Boston (5-miles). The Property is located 0.4-miles from the Revere Beach MBTA T-Station and also enjoys close proximity to the commercial center of Revere and the Revere Beach offering an abundance of shopping, restaurant and outdoor recreation amenities. Listed at a 6.46% cap-rate on current income, in-place rents are below the current market rent for comparable units in the market, offering the Buyer the potential to raise rents and increase current revenue through a programmatic upgrade of the common areas and units.
Location
State MA
County Suffolk
Zoning RB
Exterior
Community Features Public Transportation, Shopping, Pool, Tennis Court(s), Park, Walk/Jog Trails, Medical Facility, Laundromat, Bike Path, Highway Access, House of Worship, Marina, Private School, Public School, T-Station
Waterfront Description Beach Front,Sound,3/10 to 1/2 Mile To Beach,Beach Ownership(Public)
Roof Type Rubber
Building
Lot Description Other
Story 3
Foundation Stone, Brick/Mortar
Sewer Public Sewer
Water Public
Read Less
Bought with May Mai • Zhensight Realty LLC