72-74 Thornton StreetRevere, MA 02151MLS Number 73255322

  • Price: $1,750,000
  • Est. Mortgage of $/month
  • 91 Days on Market
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Federal 30-year interest rate: 6.2% last updated on Sep 12, 2024
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
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Under Agreement
72-74 Thornton Street Revere MA 0215172-74 Thornton Street Revere MA 0215172-74 Thornton Street Revere MA 0215172-74 Thornton Street Revere MA 0215172-74 Thornton Street Revere MA 0215172-74 Thornton Street Revere MA 0215172-74 Thornton Street Revere MA 0215172-74 Thornton Street Revere MA 0215172-74 Thornton Street Revere MA 0215172-74 Thornton Street Revere MA 0215172-74 Thornton Street Revere MA 0215172-74 Thornton Street Revere MA 0215172-74 Thornton Street Revere MA 0215172-74 Thornton Street Revere MA 0215172-74 Thornton Street Revere MA 0215172-74 Thornton Street Revere MA 0215172-74 Thornton Street Revere MA 02151
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  • 16Bedrooms
  • 0.11Acreage
  • 6Bathrooms
  • 1920Year Built
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.
Listed by Stephen Girolamo of Horvath & Tremblay

Driving Directions

Colonial Manor Realty
Colonial Manor Realty
Office: 781-290-7425
127 Franklin St
Reading, MA 01867

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More Info

Basic Information

  • Gross Income $166,920
  • Lot Features Other
  • Mls StatusUnder Agreement
  • Rent Includes Unit 1(Water), Unit 2(Water)

Location

  • Address72-74 Thornton Street
  • Building Number72-74
  • CountySuffolk
  • StateMA
  • StreetThornton Street
  • TownRevere
  • Zip02151

Exterior

  • RoofRubber

Property Information

  • Building Area Source Public Records
  • Living Area 6,237
  • Lot Size Square Feet 5,009
  • Lot Size Units Acres
  • Square Feet6,237

Tax Information

  • Tax Assessed Value $1,701,100
  • Tax Year 2024
  • Taxes$15,497

Basic Information

  • List Price$1,750,000
  • MLS Number73255322
  • Modification Date09/16/2024
  • Property SubType5-9 Family
  • Purchase Contract Date06/26/2024
  • Sale Date06/26/2024

Property

  • Acreage0.11

Utilities

  • Electric Individually Metered
  • Sewer Public Sewer
  • Water Source Public

Water Body

  • Miles to Beach0.5
  • Waterfront Features Beach Front, Sound,3/10 to 1/2 Mile To Beach, Beach Ownership(Public)

Other

  • Buyer Agency Compensation2%
  • Date Listed06/20/2024
  • Farm Land Area Units Square Feet
  • View Count2

Parking

  • Parking Spaces

Rooms

  • Bathroom6
  • Bathrooms Total Decimal 6
  • Bedrooms16
  • Full Bath6

Building

  • BasementUnfinished
  • Building Area Units Square Feet
  • FoundationStone, Brick/Mortar
  • Rooms28
  • Stories3
  • Units6
  • Year Built1920
  • Year Built Details Actual
  • Year Built Source Public Records

Amenities

  • Amenities
    • Bike Path
    • Highway Access
    • House of Worship
    • Laundromat
    • Marina
    • Medical Facility
    • Park
    • Pool
    • Private School
    • Public School
    • Public Transportation
    • Shopping
    • T-Station
    • Tennis Court(s)
    • Walk/Jog Trails
  • Appliances IncludedWasher, Dryer
  • Other AmenitiesBasement, Beachfront, Tennis
Listed by Stephen Girolamo of Horvath & Tremblay

The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. (MLSPIN) from third party sources, including sellers, lessors and public records, and were compiled by MLSPIN. 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. MLSPIN 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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