447 Pleasant St Melrose, MA 02176
Wyoming NeighborhoodEstimated payment $39,411/month
Highlights
- Medical Services
- 1-minute walk to Wyoming Hill
- Property is near public transit and schools
- Lincoln Elementary School Rated A-
- 0.45 Acre Lot
- Jogging Path
About This Home
447 Pleasant St is a three-story brick building with 24 residential units consisting of 1 Studio unit and (23) 1-Bedroom/1-Bathroom units. The units are separately metered for electric, which is paid directly by the tenants. The Landlord is responsible for electric heat and hot water, common area electric, and domestic water and sewer. 447 Pleasant Street has been well maintained throughout ownership and features ample off-street parking with 21 spaces. The Property also offers an elevator and on site laundry facility, and each unit has a private walk-out patio or balcony. 447 Pleasant Street offers the opportunity to acquire a well-maintained investment Property with upside in an exceptional, urban-infill location. The subject property is ideal for a potential buyer looking for income growth and strong investment returns. In-place rents are below market rates, providing significant potential for upside by achieving market rents through programmatic upgrades to the unrenovated units.
Listing Agent
Kelleher - Pentore Team
Horvath & Tremblay Listed on: 05/27/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $31,085
Year Built
- Built in 1964
Home Design
- Rubber Roof
Interior Spaces
- Property has 1 Level
Bedrooms and Bathrooms
- 24 Bedrooms
- 24 Full Bathrooms
Parking
- 21 Car Parking Spaces
- Off-Street Parking
Additional Features
- 0.45 Acre Lot
- Property is near public transit and schools
- Separate Meters
Listing and Financial Details
- Rent includes unit 1(heat water hot water), unit 2(heat water hot water)
- Assessor Parcel Number 652846
Community Details
Overview
- 24 Units
Amenities
- Medical Services
- Shops
Recreation
- Park
- Jogging Path
- Bike Trail
Building Details
- Operating Expense $193,694
- Net Operating Income $369,984
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $311 | $3,139,900 | $1,800,000 | $1,339,900 |
| 2024 | $28,112 | $2,831,000 | $1,584,000 | $1,247,000 |
| 2023 | $27,105 | $2,601,200 | $1,440,000 | $1,161,200 |
| 2022 | $25,409 | $2,403,900 | $1,320,000 | $1,083,900 |
| 2021 | $23,268 | $2,124,900 | $1,320,000 | $804,900 |
| 2020 | $23,490 | $2,125,800 | $1,320,000 | $805,800 |
| 2019 | $21,040 | $1,946,300 | $1,200,000 | $746,300 |
| 2018 | $20,524 | $1,811,500 | $1,200,000 | $611,500 |
| 2017 | $20,526 | $1,739,500 | $1,128,000 | $611,500 |
| 2016 | $19,263 | $1,562,300 | $960,000 | $602,300 |
| 2015 | $18,351 | $1,416,000 | $840,000 | $576,000 |
| 2014 | $18,804 | $1,416,000 | $840,000 | $576,000 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/02/2025 07/02/25 | Pending | -- | -- | -- |
| 07/01/2025 07/01/25 | Off Market | $7,000,000 | -- | -- |
| 06/20/2025 06/20/25 | For Sale | $7,000,000 | 0.0% | $521 / Sq Ft |
| 06/16/2025 06/16/25 | Off Market | $7,000,000 | -- | -- |
| 05/27/2025 05/27/25 | For Sale | $7,000,000 | 0.0% | $521 / Sq Ft |
| 10/08/2024 10/08/24 | Off Market | $1,995 | -- | -- |
| 10/01/2024 10/01/24 | For Rent | $2,100 | +5.3% | -- |
| 09/16/2024 09/16/24 | Price Changed | $1,995 | -- | $4 / Sq Ft |
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73380148
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