Investor Opportunity! This prime income-generating property features a 24-room updated rooming house with six shared kitchens and bathrooms. Additionally, the property includes three commercial storefronts, with a property management company and convenience store on-site. A full basement offers a maintenance area, while on-site amenities include parking, greenspace, and dry container storage. A 40-foot scissor lift adds to the property’s versatility. An additional parcel in the rear provides the potential for expanded parking. Recent upgrades include a new sprinkler system and full fire code compliance as of January 2024, as well as new water service installed the same year. The entire building is equipped with landlord-controlled thermostats, ensuring efficiency and ease of management. Located near Clasky Park and the T-station access bridge. On-site Property Management Company. The seller is willing to hold a 10% note, making this an exceptional investment!
639-647 County St, New Bedford, MA, 02740
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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