NOT LISTED FOR SALE

9 Melbourne St Dorchester Center, MA 02124

Saint Marks Neighborhood
22 Beds
6 Baths
8,529 Sq Ft
3,500 Sq Ft Lot

Last Sold August 17, 2022

Last sale price $1,935,000 $227 Per Sq Ft

10 Days on Market

Highlights

  • Medical Services
  • 2-minute walk to Shawmut Station
  • Tennis Courts
  • Property is near public transit
  • Wood Flooring
  • 1-minute walk to Reverend Loesch Family Park

About This Home

As of August 2022

RARE OPPORTUNITY FOR INVESTORS TO OWN A 6-UNIT BUILDING IN A PRIME LOCATION! Two 3 bedroom units on first floor and four 4 bedroom units on 2nd and 3rd floor all sunny with a living room and an eat-in kitchen with a dishwasher. The property has sprinklers throughout and an updated central fire alarm maintained by the private alarm company. The roof has been updated within the last 6 months and the basement is clean with laundry hookups. The building is next door to a well-maintained park with lots of green space and plenty of street parking. The return on investment is a no-brainer: At list price, it is a 7.13% cap rate with a 10.28% cash on cash return based on the current rent roll & expenses with 25% down and 75% financed at 4.5%. There is a huge and easy-to-achieve upside at this property by raising existing tenants' rents to be at the current subsidized rental rates. Those increases would see this property at list price come with a 17.45% cash on cash return and a cap rate of 8.9

Last Agent to Sell the Property

Shiela Trathagen

Bridgestone Properties, LLC Listed on: 05/13/2022

Last Buyer's Agent

Tenzin Sonam

SL Group Properties, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,604

Year Built

  • Built in 1900

Lot Details

  • 3,500 Sq Ft Lot
  • Level Lot

Home Design

  • Brick Exterior Construction
  • Brick Foundation
  • Stone Foundation
  • Frame Construction
  • Tar and Gravel Roof
  • Stone

Interior Spaces

  • 8,529 Sq Ft Home
  • Living Room
  • Intercom

Kitchen

  • Oven
  • Range
  • Dishwasher

Flooring

  • Wood
  • Laminate
  • Tile

Bedrooms and Bathrooms

  • 22 Bedrooms
  • 6 Full Bathrooms
  • Bathtub with Shower

Basement

  • Basement Fills Entire Space Under The House
  • Interior Basement Entry
  • Block Basement Construction

Parking

  • On-Street Parking
  • Open Parking

Location

  • Property is near public transit
  • Property is near schools

Utilities

  • Heating Available
  • Separate Meters
  • 200+ Amp Service
  • Natural Gas Connected
  • Gas Water Heater
  • High Speed Internet

Listing and Financial Details

  • Total Actual Rent $15,839
  • Rent includes unit 1(heat hot water)
  • Assessor Parcel Number 1601412000,1302852

Community Details

Overview

  • 6 Units
  • Property has 1 Level

Amenities

  • Medical Services
  • Shops
  • Coin Laundry

Recreation

  • Tennis Courts
  • Park
  • Jogging Path

Building Details

  • Net Operating Income $48,688

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,604

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 5-9 Family
  • Year Built: 1900
  • Buyer Agency: 2.0
  • Buyer Agency Type: %
  • Transaction Broker: 2.0
  • Transaction Broker Type: %
  • Year Built Details: Approximate
  • SUB AGENCY OFFERED: No
  • Year Round: Yes
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: Yes
  • ResoPropertyType: ResidentialIncome
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: None
  • Stories: 9

Interior Features

  • Flooring: Tile,Varies Per Unit,Hardwood,Wood Laminate, Hardwood Floors, Unit 1(undefined)
  • Interior Amenities: Pantry, Lead Certification Available, Bathroom With Tub & Shower, Internet Available - DSL, Living Room, Kitchen, Unit 1(Stone/Granite/Solid Counters,Bathroom With Tub & Shower), Unit 1 Rooms(Living Room,Kitchen)
  • Fireplace YN: No
  • Appliances: Range, Oven, Dishwasher, Refrigerator, Unit 1(Range,Dishwasher,Refrigerator,Freezer), Gas Water Heater,Tank Water Heater, Utility Connections for Gas Range
  • Total Bedrooms: 22
  • Full Bathrooms: 6
  • Total Bathrooms: 6
  • Total Bathrooms: 6
  • Basement: Full, Interior Entry, Concrete
  • Living Area: 8529
  • Other Equipment: Intercom
  • Stories Total: 9
  • MAIN LO: BB8195
  • LIST PRICE PER Sq Ft: 228.63
  • PRICE PER Sq Ft: 226.87
  • MAIN SO: AN2616

Exterior Features

  • Construction Materials: Frame, Brick, Stone
  • Foundation Details: Stone, Brick/Mortar
  • Road Frontage Type: Public
  • Roof: Tar/Gravel
  • Waterfront YN: No

Garage/Parking

  • Garage YN: No
  • Open Parking YN: Yes
  • Parking Features: On Street

Utilities

  • Sewer: Public Sewer
  • Utilities: for Gas Range
  • Heating: Baseboard,Natural Gas, Unit 1(Hot Water Baseboard)
  • Electric: Fuses, 200+ Amp Service, Individually Metered
  • Heating YN: Yes
  • Water Source: Public
  • COOLING ZONES: 0

Condo/Co-op/Association

  • Community Features: Public Transportation, Shopping, Tennis Court(s), Park, Walk/Jog Trails, Medical Facility, Laundromat, Highway Access, House of Worship, Private School, Public School, T-Station
  • Rent Includes: Unit 1(Heat,Hot Water)
  • Senior Community YN: No

Lot Info

  • Parcel Number: 1601412000,1302852
  • Zoning: Res
  • Farm Land Area Units: Square Feet
  • Lot Features: Level
  • Lot Size Acres: 0.08
  • Lot Size Area: 0.08
  • Lot Size Sq Ft: 3500
  • Lot Size Units: Acres
  • PAGE: 87
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Year: 2022
  • Tax Annual Amount: 13604.2
  • Tax Book Number: 38430

Multi Family

  • Gross Income: 190068
  • Net Operating Income: 48688
  • Number Of Units Total: 6
  • Total Actual Rent: 15839
  • LEVELS 1: 1
  • Basement Included Sq Ft: No
  • LEVELS 2: 1
  • LEVELS 3: 1
  • LEASE 4: Y
  • LEASE 3: Y
  • LEASE 2: Y
  • LEASE 1: Y
  • FLRS 1: 1
  • FLRS 4: 2
  • 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
08/17/2022 08/17/22 Sold $1,935,000 -0.8% $227 / Sq Ft
05/24/2022 05/24/22 Pending -- -- --
05/13/2022 05/13/22 For Sale $1,950,000 -- $229 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Shiela Trathagen

    Seller's Agent in 2022

    Shiela Trathagen

    Bridgestone Properties, LLC

    (857) 342-0644

    1 in this area

    16 Total Sales

    Shiela Trathagen
    Section Image
  • Tenzin Sonam

    Buyer's Agent in 2022

    Tenzin Sonam

    SL Group Properties, LLC

    (617) 417-7501

    1 in this area

    23 Total Sales

    Tenzin Sonam
    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72981613

MLS Property Information Network (MLS PIN)
Massachusetts Suffolk County Dorchester Center 02124 Saint Marks

9 Melbourne St, Dorchester Center, MA

This home is located at 9 Melbourne St, Dorchester Center, MA 02124 since 13 May 2022. This property was built in 1900. 9 Melbourne St is a home located in Suffolk County with nearby schools including Codman Academy Charter Public School and Epiphany 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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