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434 Cottage Street, New Bedford, MA 02740

8 Bed, 2 Bath Multi-Family Home For Sale

434 Cottage Street, New Bedford, MA 02740 House For Sale - MLS #72359204
Off the Market
$359,000
8
2
Multi-Family
5+ Family
11

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Property Description for 434 Cottage Street, New Bedford, MA 02740

The property contains 11 bedrooms with communal kitchen and two full bathrooms. It is located on a corner lot with a fenced in yard and off street parking. In addition, coin-op laundry is available in the building and provides great additional income. Buyers have the ability to acquire a rooming house with full time management in place and in a market that is currently compromised of 50%+ renters with over 10.50% cap rate with the potential to achieve nearly 15%. Fully occupied, professionally managed, double-digit ROI. The property is centrally located to area amenities and is less than one mile to major routes including I-195 to Providence (40 minutes) and Route 6. New Bedford is currently experiencing many local development projects, including the proposed plan of the South Coast Railroad. The South Coast Railroad project will restore passenger rail transportation from Boston's South Station to New Bedford starting in 2019.

Interior Details

3,367 sq. ft.
$106.62/sq. ft.

Exterior Details

0.17 acres
7,517 sq. ft.
4

Other Details

72359204
1889

Units Description

Unit #1
Rooms: 1      Bedrooms: 1      Levels: 1      Floor: 2      Rent: $550     

Unit #2
Rooms: 1      Bedrooms: 1      Levels: 1      Floor: 2      Rent: $550     

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(20%)

Monthly Mortgage Payments

$1,631
$2,271

Town Description

The City of New Bedford is seen by its residents as a wonderfully diverse and culturally rich community with a proud past, present and future. The whaling capital of the world in the 18th century,...

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