88 Main, Gardner, MA 01440
$1,299,000
This well-maintained 13-unit building offers a strategic mix of five commercial units and eight residential units, including a total of six-one bedrooms, one studio unit, and one two-bedroom unit. The property has been thoughtfully upgraded, including a conversion from oil to natural gas with a central heating system, reducing maintenance costs and ensuring more efficient operation with just one heating unit to manage. Several residential units have been modernized, enhancing their appeal to tenants. The building also benefits from a fully sprinklered system, ensuring safety and peace of mind for all occupants.With impressive financials, the property generates substantial gross rental income and operates with a net operating income of over $100,000. The ease of maintenance, coupled with its attractive income potential, makes this a solid investment opportunity.
— MLSPIN #: 73349442| List Price: | $1,299,000 |
|---|---|
| Status: | Price Change |
| MLS ID: | 73349442 |
| Town: | Gardner |
| County: | Worcester |
| Zip: | 01440 |
| Property Type: | Residential Income |
| Property Sub Type: | 5+ Family - 5+ Units Up/Down |
| Bedrooms: | 8 |
| Full Baths: | 8 |
| Half Baths: | 5 |
| Living Area: | 12,667 sqft |
| Acres: | 0.16 |
| Taxes: | 8,664 |
| Status: | Active |
| Water Source: | Public |
| Year Built: | 1940 |
| Roof: | Rubber |
| Directions: | GPS |
| Foundation Details: | Block, Brick/Mortar |
| Electric: | Fuses, Circuit Breakers |
| Listing Contract Date: | 2025-03-24 |
| Lot Size Area: | 0.16 |
| Lot Size Square Feet: | 6,840 |
| Rooms Total: | 29 |
| Bathrooms Total Integer: | 13 |
| Basement: | true |
| Basement: | Full |
| Building Area Source: | Public Records |
| Building Area Total: | 12,667 |
| Levels: | 4 |
| Living Area Units: | Square Feet |
| Lot Size Units: | Acres |
| Number Of Units Total: | 13 |
| Open Parking?: | Yes |
| Parcel Number: | 3536250 |
| Road Frontage Type: | Public |
| Sewer: | Public Sewer |
| Zoning: | Comm 1 |
| Elementary School: | Gardner |
| Exclusions: | Tenants Personal Belongings. |
| High School: | Gardner |
| Middle Or Junior School: | Gardner |
| Stories Total: | 4 |
| View: | City View(s) |
| Year Built Source: | Public Records |
| Disclosures: | Large Oil Tank in Basement No longer used. Buyers and Buyers Agent to do it's Own Due Diligence. The Seller makes no representations or warranties regarding the accuracy of the multifamily property listing, and shall not be liable for any discrepancies. Sellers hold MA RE License. |
| Electric Expense: | $3,763 |
| Farm Land Area Units: | Square Feet |
| Financial Data Source: | Owner |
| Gross Income: | $194,004 |
| Gross Scheduled Income: | $16,397 |
| Insurance Expense: | $10,000 |
| Listing Agreement: | Exclusive Right To Sell |
| Apod Available: | Yes |
| Comp Based On: | Net Sale Price |
| Disclosure: | No |
| Dpr Flag: | No |
| Flrs 1: | 2 |
| Flrs 2: | 2 |
| Gre: | 81,730 |
| Heat Units: | 1 |
| Lead Paint: | Unknown |
| Lease 1: | Yes |
| Lease 2: | Yes |
| Levels 1: | 1 |
| Levels 2: | 1 |
| Listing Alert: | No |
| List Price Per Sqft: | $102.55 |
| Mgf: | 13,580 |
| Page: | 16 |
| Price Per Sqft: | $102.55 |
| Square Feet Incl Base: | No |
| Sub Agency Offered: | No |
| Net Operating Income: | $112,274 |
| Operating Expense: | $81,730 |
| Original List Price: | $1,399,900 |
| Tax Assessed Value: | $509,000 |
| Tax Year: | 2024 |
| Total Actual Rent: | $16,167 |
| View?: | Yes |
| Water Sewer Expense: | $4,977 |
| Year Built Details: | Actual |
| Waterview Flag: | No |
| Bedrms 1: | 1 |
| Bedrms 2: | 2 |
| F Bths 1: | 1 |
| F Bths 2: | 1 |
| Hot Water: | Natural Gas |
| Rent1: | 1,350 |
| Rent2: | 1,400 |
Listing Courtesy of: Four Points Real Estate, LLC
Listing Agent: Candor Realty Group
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MLS Property Information Network, Inc. data last updated on May 01, 2025 03:59 AM
Property Last Updated: April 30, 2025 01:34 PM