$950,000
SOLD APR 7, 2025

15-15 1/2 Central St Methuen, MA 01844

Downtown Methuen Neighborhood
7 Beds
5 Baths
4,074 Sq Ft
0.27 Acres

Recently Sold

$233 Per Sq Ft

5% Below List Price

7 Days on Market

Highlights

  • Medical Services
  • Property is near public transit
  • Corner Lot
  • Deck
  • Wood Flooring
  • Porch

About This Home

As of April 2025

Well-maintained four-unit multifamily investment property in the heart of Methuen. This asset offers a mix of (1) 4-bedroom/2-bathroom townhouse unit and (3) 1-bedroom/1-bathroom units, totaling 4,074 square feet of living space on a 0.27-acre parcel. Recent property improvements, including a newer roof, windows, insulation, water heater tank, and boiler, enhance long-term value and minimize maintenance costs. Additional amenities such as off-street parking, a garage, and backyard space. Located in a high-demand residential neighborhood, the property provides seamless access to major highways (Routes 93 & 213), downtown Methuen, and is just minutes from the New Hampshire state line. Current rental rates are below market, presenting an opportunity to enhance revenue by aligning rents with market levels.

Last Agent to Sell the Property

Michael Alvarez

Alvarez Real Estate Group LLC Listed on: 02/20/2025

Last Buyer's Agent

Jefri Liriano

Liriano Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,490

Year Built

  • Built in 1900

Lot Details

  • 0.27 Acre Lot
  • Fenced
  • Corner Lot

Parking

  • 1 Car Garage
  • Off-Street Parking

Home Design

  • Stone Foundation
  • Frame Construction
  • Shingle Roof

Interior Spaces

  • 4,074 Sq Ft Home
  • Living Room
  • Dining Room

Kitchen

  • Range
  • Microwave

Flooring

  • Wood
  • Vinyl

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 5 Full Bathrooms

Laundry

  • Dryer
  • Washer

Unfinished Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House

Outdoor Features

  • Deck
  • Porch

Location

  • Property is near public transit
  • Property is near schools

Utilities

  • Cooling Available
  • Heating System Uses Oil

Listing and Financial Details

  • Total Actual Rent $8,250
  • Rent includes unit 1(heat water hot water), unit 2(heat water hot water), unit 3(heat water hot water), unit 4(heat water hot water)
  • Assessor Parcel Number 7126411

Community Details

Overview

  • 4 Units
  • Property has 2 Levels

Amenities

  • Medical Services
  • Shops

Recreation

  • Park

Building Details

  • Operating Expense $28,720
  • Net Operating Income $70,280

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,490

Year Built

Built in 1900

Lot Details

0

Parking

1

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 4 Family
  • Year Built: 1900
  • Levels: 6
  • Year Built Details: Approximate
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Compensation Offered but Not in MLS
  • APOD AVAILABLE: Yes
  • ResoPropertyType: ResidentialIncome
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: None
  • Stories: 6

Interior Features

  • Flooring: Vinyl, Hardwood
  • Interior Amenities: Living Room, Dining Room, Kitchen, Laundry Room
  • Fireplace YN: No
  • Appliances: Range, Microwave, Refrigerator, Washer, Dryer
  • Total Bedrooms: 7
  • Full Bathrooms: 5
  • Total Bathrooms: 5
  • Total Bathrooms: 5
  • Laundry Features: Gas Dryer Hookup
  • Basement: Full, Walk-Out Access, Unfinished
  • Above Grade Finished Sq Ft: 4074
  • Living Area: 4074
  • Spa YN: No
  • Stories Total: 6
  • MAIN LO: AN7528
  • LIST PRICE PER Sq Ft: 245.43
  • PRICE PER Sq Ft: 233.19
  • MAIN SO: AN8804

Exterior Features

  • Construction Materials: Frame
  • Fencing: Fenced
  • Foundation Details: Stone
  • Home Warranty YN: No
  • Patio And Porch Features: Porch, Deck
  • Road Frontage Type: Public
  • Roof: Shingle
  • Waterfront YN: No

Garage/Parking

  • Garage Spaces: 1
  • Covered Parking Spaces: 1
  • Garage YN: Yes
  • Parking Features: Off Street
  • Total Parking Spaces: 5

Utilities

  • Sewer: Public Sewer
  • Utilities: for Gas Range, for Gas Dryer
  • Cooling: Other
  • Heating: Oil
  • Cooling Y N: Yes
  • Heating YN: Yes
  • Water Source: Public
  • Hot Water: Oil

Condo/Co-op/Association

  • Community Features: Public Transportation, Shopping, Park, Medical Facility, Highway Access, Private School, Public School, Other
  • Rent Includes: Unit 1(Heat,Water,Hot Water), Unit 2(Heat,Water,Hot Water), Unit 3(Heat,Water,Hot Water), Unit 4(Heat,Water,Hot Water)
  • Senior Community YN: No

Lot Info

  • Parcel Number: 7126411
  • Zoning: RG
  • Farm Land Area Units: Square Feet
  • Lot Features: Corner Lot
  • Lot Size Acres: 0.27
  • Lot Size Area: 0.27
  • Lot Size Sq Ft: 11761
  • Lot Size Units: Acres
  • PAGE: 0
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Year: 2025
  • Tax Annual Amount: 8490
  • Tax Book Number: 0

Multi Family

  • Gross Income: 99000
  • Net Operating Income: 70280
  • Number Of Units Total: 4
  • Operating Expense: 28720
  • Total Actual Rent: 8250
  • LEVELS 1: 2
  • Basement Included Sq Ft: No
  • LEVELS 4: 1
  • LEVELS 2: 1
  • LEVELS 3: 1
  • LEASE 4: N
  • LEASE 3: Y
  • LEASE 2: N
  • LEASE 1: N
  • FLRS 4: 3
  • FLRS 3: 2
  • FLRS 2: 1

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/07/2025 04/07/25 Sold $950,000 -5.0% $233 / Sq Ft
02/27/2025 02/27/25 Pending -- -- --
02/20/2025 02/20/25 For Sale $999,900 -- $245 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Michael Alvarez

    Seller's Agent in 2025

    Michael Alvarez

    Alvarez Real Estate Group LLC

    (617) 329-9493

    1 in this area

    1 Total Sale

    Michael Alvarez
    Section Image
  • Jefri Liriano

    Buyer's Agent in 2025

    Jefri Liriano

    Liriano Realty

    (617) 467-2870

    2 in this area

    107 Total Sales

    Jefri Liriano
    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 73336807

MLS Property Information Network (MLS PIN)
Massachusetts Essex County Methuen 01844 Downtown Methuen

15-15 1/2 Central St, Methuen, MA

This home is located at 15-15 1/2 Central St, Methuen, MA 01844 and is currently priced at $950,000, approximately $233 per square foot. This property was built in 1900. 15-15 1/2 Central St is a home located in Essex County with nearby schools including Tenney Grammar School, Methuen High School, and Saint Monica School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MLS Property Information Network (MLS PIN) 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 its 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.

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