Revere, MA 02151,72-74 Thornton St
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Revere, MA 02151,72-74 Thornton St
Revere, MA 02151,72-74 Thornton St
Revere, MA 02151,72-74 Thornton St
Revere, MA 02151,72-74 Thornton St

$1,740,000

Est. payment /mo

$1,750,000

0.6%
Est.Price: ?

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72-74 Thornton St Revere, MA 02151

16 Beds

6 Baths

6,237 SqFt

SOLD DATE : 09/23/2024

Key Details

Sold Price $1,740,000

Property Type Multi-Family

Sub Type 5-9 Family

Listing Status Sold

Purchase Type For Sale

Square Footage 6,237 sqft

Price per Sqft $278

MLS Listing ID 73255322

Sold Date 09/23/24

Bedrooms 16

Full Baths 6

Year Built 1920

Annual Tax Amount $15,497

Tax Year 2024

Lot Size 4,791 Sqft

Acres 0.11

Property Description

72-74 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.

Location

State MA

County Suffolk

Zoning RB

Direction Please use GPS

Rooms

Basement Unfinished

Interior

Appliance Washer, Dryer

Exterior

Community Features Public Transportation, Shopping, Pool, Tennis Court(s), Park, Walk/Jog Trails, Medical Facility, Laundromat, Bike Path, Highway Access, House of Worship, Marina, Private School, Public School, T-Station

Waterfront false

Waterfront Description Beach Front,Sound,3/10 to 1/2 Mile To Beach,Beach Ownership(Public)

Roof Type Rubber

Garage No

Building

Lot Description Other

Story 3

Foundation Stone, Brick/Mortar

Sewer Public Sewer

Water Public

Others

Senior Community false

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Listed by Horvath & Tremblay
Bought with May Mai • Zhensight Realty LLC

Kathleen Goneau

Broker Associate | License ID: 9049339

+1(508) 868-4090

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