Seller's Agent in 2024
Steve Girolamo
Horvath & Tremblay
(978) 406-1789
2 in this area
22 Total Sales
72 Thornton St Revere, MA 02151
Crescent Beach Neighborhood
16
Beds
6
Baths
6,237
Sq Ft
5,009
Sq Ft Lot
Highlights
- Marina
- Property is near public transit
- Tennis Courts
- Medical Services
- Community Pool
- Jogging Path
About This Home
As of September 202472-74 Thornton St is a three-story building and contains a total of six units, consisting of four 3-Bedroom/1-Bathroom units and two 2-Bedroom/1-Bathroom units. The Property is well-located in a renter-dominated market and is typically fully occupied with low historical vacancy. There is a limited supply of multifamily housing in Revere with a high demand for rental units, given its location along the shore and proximity to downtown Boston (5-miles). The Property is located 0.4-miles from the Revere Beach MBTA T-Station and also enjoys close proximity to the commercial center of Revere and the Revere Beach offering an abundance of shopping, restaurant and outdoor recreation amenities. Listed at a 6.46% cap-rate on current income, in-place rents are below the current market rent for comparable units in the market, offering the Buyer the potential to raise rents and increase current revenue through a programmatic upgrade of the common areas and units.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $15,497
Year Built
- Built in 1920
Home Design
- Brick Foundation
- Stone Foundation
- Rubber Roof
Interior Spaces
- 6,237 Sq Ft Home
- Property has 1 Level
- Unfinished Basement
Bedrooms and Bathrooms
- 16 Bedrooms
- 6 Full Bathrooms
Laundry
- Dryer
- Washer
Location
- Property is near public transit
- Property is near schools
Additional Features
- 5,009 Sq Ft Lot
- Separate Meters
Listing and Financial Details
- Total Actual Rent $13,790
- Rent includes unit 1(water), unit 2(water)
Community Details
Overview
- 6 Units
Amenities
- Medical Services
- Shops
- Coin Laundry
Recreation
- Marina
- Tennis Courts
- Community Pool
- Park
- Jogging Path
- Bike Trail
Building Details
- Operating Expense $53,886
- Net Operating Income $113,034
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/23/2024 09/23/24 | Sold | $1,740,000 | -0.6% | $279 / Sq Ft |
| 06/26/2024 06/26/24 | Pending | -- | -- | -- |
| 06/20/2024 06/20/24 | For Sale | $1,750,000 | +28.2% | $281 / Sq Ft |
| 08/16/2017 08/16/17 | Sold | $1,365,000 | -2.2% | $219 / Sq Ft |
| 06/16/2017 06/16/17 | Pending | -- | -- | -- |
| 06/14/2017 06/14/17 | Price Changed | $1,395,000 | -1.8% | $224 / Sq Ft |
| 05/15/2017 05/15/17 | Price Changed | $1,420,000 | -2.1% | $228 / Sq Ft |
| 04/06/2017 04/06/17 | For Sale | $1,450,000 | 0.0% | $232 / Sq Ft |
| 07/07/2015 07/07/15 | Rented | $1,525 | 0.0% | -- |
| 07/07/2015 07/07/15 | For Rent | $1,525 | -- | -- |
Source: MLS Property Information Network (MLS PIN)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Steve Girolamo
-
May Mai
Buyer's Agent in 2024
May Mai
PWK Realty LLC
(617) 319-1819
2 in this area
31 Total Sales
-
N
Seller's Agent in 2017
Nick Spagnola
Centre Realty Group
(781) 241-3355
-
CRM Property Cor Rentals Department
C
Seller's Agent in 2015
CRM Property Cor Rentals Department
City Realty Group
2 Total Sales
Map
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73255322
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