Revere, MA 02151,72-74 Thornton St
Revere, MA 02151,72-74 Thornton St
Revere, MA 02151,72-74 Thornton St
17
$1,740,000
$1,750,000
0.6%
Est.Price: ?

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16 BD
6 BA
6,237 SqFt

72-74 Thornton St Revere, MA 02151

Est. payment /mo
SOLD DATE : 09/23/2024

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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

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Listed by Horvath & Tremblay
Bought with May Mai • Zhensight Realty LLC

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agent

Deborah Lucci

Agent | License ID: 9027989

+1(978) 771-9909

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