Kevin Lawless
Stone Ridge Properties | 978-992-4118 | kevin.lawless@verizon.net

5-7 Ashland Ct, Newburyport, MA 01950

Multi-Family

$1,125,000
Price

3
Units
3,400
Approx. GLA
EXCEPTIONAL INVESTMENT OPPORTUNITY - Turn-key three family in excellent condition located in one of Newburyport's finest neighborhoods with outstanding rental history, beautiful backyard, generous parking and high net operating income with a CAP rate over 6%. Major improvements include high-efficiency replacement windows, new siding, newer mechanical systems and granite counters. This well maintained multifamily features two side by side townhouses and a third open concept unit in back addition with potential loft space for extra storage or loft bedroom. Each unit comes equipped with their own washer / dryer and also offers separate utilities. Investor / buyer options abound with this property as an owner-occupied multi-family with positive cash flow, as an investment property with solid rental history and $83,400 in gross annual income or as an easy condo conversion. Don't let this opportunity pass you by. FIRST SHOWINGS AT INVESTOR OPEN HOUSE - Oct. 12th 11:00 AM to 1:00 PM
Open House
No scheduled Open Houses
Highlights
Basement Features: Full
List Price: $1,125,000
Type: Multi-Family
Multi-Family Type: 3 Family
Status: Active
Beds: 8
Baths: 3
Half Baths: 2
Units: 3
Year Built: 1870
Year Round: Yes
Approx. GLA: 3,400
MLS#: 72567972
 
 
Interior
Basement: Yes
Electric Features: Circuit Breakers, 100 Amps, Individually Metered
Heating Units: 3
Heating Zones: 3
Flooring: Wood, Wall to Wall Carpet
Energy: Insulated Windows, Insulated Doors
Fireplaces: 2
Rooms: 15
Lead Paint: Unknown
Total Floors: 3
Exterior
Water: No
Facing: North
Acres: 0.30
Lot Size: 13,000.00
Lot Description: Paved Drive, Other (See Remarks), Cleared, Gentle Slope
Foundation: Fieldstone, Brick
Parking Spaces: 8
Parking Features: Off-Street, Improved Driveway
Road Type: Public, Paved, Publicly Maint., Dead End, Sidewalk
Color: Beige
Construction: Frame
Roof Material: Asphalt/Fiberglass Shingles
Utility: for Gas Range, for Electric Dryer, Washer Hookup
Exterior: Clapboard, Vinyl
Exterior Features: Garden Area, Patio
Water: City/Town Water
Water: City/Town Water
Taxes
Short Sale Lender Approval: No
Lender Owned: No
APOD Available: Yes
Assessed Price: $588,900
Taxes: $7,703
Tax Year: 2019
Book/Page: 29524/426
Beach
Beach: No
Expenses
Expenses Source: Owner Provided
Gross Income: $83,400
Gross Expenses: $12,271
Total Rent: $6,950
Net Income: $71,129
Insurance Cost: $1,600
Sewer Cost: $425
Water Cost: $425
 
Additional
Amenities: Public Transportation, Shopping, Tennis Court, Park, Walk/Jog Trails, Medical Facility, Laundromat, Bike Path, Conservation Area, Highway Access, Marina, T-Station
Disclosure Declaration: Yes
Disclosure: Seller never occupied any of the Units. RESTRICTED SHOWING TIME: Property can only be shown on Saturdays from 11:00 AM to 1:00 PM.
Units
Total Rooms Bedrooms Fireplaces Floors Full Baths Half Baths Lease Levels Rent
Unit 1 3 1 0 1 1 0 Yes 1 $2,000
Unit 2 6 3 1 1 1 1 Yes 3 $2,700
Unit 3 7 4 1 1 1 1 Yes 3 $2,250
Units Extras
Unit 1
Rent Includes:  Water, Hot Water  Cooling:  Window AC  Applicances:  Washer & Dryer Hookup, Range, Dishwasher, Microwave, Refrigerator  Heating:  Electric Baseboard  Interior:  Open Floor Plan, Upgraded Cabinets, Cathedral/Vaulted Ceilings, Storage  Rooms:  Kitchen, Living RM/Dining RM Combo 
Unit 2
Rent Includes:  Water, Hot Water  Cooling:  Window AC  Applicances:  Washer & Dryer Hookup, Range, Dishwasher, Microwave, Refrigerator  Heating:  Forced Air, Gas  Interior:  Storage, Fireplace - Wood burning  Rooms:  Living Room, Dining Room, Kitchen, Laundry, Other (See Remarks) 
Unit 3
Rent Includes:  Water, Hot Water  Cooling:  Window AC  Applicances:  Washer & Dryer Hookup, Range, Dishwasher, Microwave, Refrigerator  Heating:  Hot Water Baseboard, Gas  Interior:  Remodeled, Storage, Fireplace - Wood burning  Rooms:  Living Room, Dining Room, Kitchen, Other (See Remarks) 
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The listing office is Stone Ridge Properties, Inc. and the listing agent is Kevin Lawless. The property listing data and information, or the images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. 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. and it's 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. The data was last modified on 12/18/2018 2:44:00 PM.
 
Kevin Lawless
Kevin Lawless
Stone Ridge Properties