Value Add Opportunity ! Permits in place to build out 10 One Bedroom Apartments.Located on the highly sought after and heavily traveled Route 28 Interstate Highway.Tri level structure improved by 5 retail storefronts with long standing tenants in place. Updated sprinkler system. Wet system on lower levels and Dry system above.Also has an updated fire prevention system. Storefronts have their own separately metered utilities, including self contained heating and cooling systems in place. New electrical service in place. Five young rubber roofs. Present rent roll is below market with no leases having room for larger bottom line.Located on the bus line.The asset is positioned across from the newly developed Malden Mils Loft community Loft Five50 consisting of first phase development. Second phase development having an additional 200 units has just been improvedand in process.
511-529 Broadway, Lawrence, MA, 01841
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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