38-40 Cherry St Medford 2 Family 6 Bed 2 bath 2630 sqft 405 sqft lotMeticulously maintained Medford 2-family with lots of updates by the current owner that still offers an opportunity for upside improvements. Both units have had regular updates, including recently refinished hardwood floors, regular paint updates, and updated kitchens and baths. Both units are currently rented under leases, making it a great investment property with an opportunity for future owner-occupancy. The walk-up heated attic provides a great opportunity for expanding the 2nd-floor unit. Electric was updated to 200amp, boilers were done in the early 2000s, and water heaters were recently replaced. The roof was done in 2008. Full basement waterproofing just completed. Mini splits were added to unit 2 in 2020, and 1st floor windows have just been updated.
Seller offering rate buy down!! Tremendous 3 unit opportunity for savvy investors in Medford—this fully renovated two-family property showcases Medford’s first detached ADU, delivering exceptional flexibility and income potential. Unit 1 features a flexible bi-level layout with 2 bedrooms and 1 bath on the main level, plus a finished lower level offering an additional bedroom, full bath, and versatile media rooms. Unit 2 occupies the upper floor with 2 bedrooms, a dedicated office, and 1 bath. The brand-new ADU offers 2 bedrooms and 1.5 baths, ideal for owner-occupancy or premium rental income. There is also the opportunity to convert the finished basement into a fourth rentable unit.With all-new systems—including central AC—and high-quality finishes throughout, this turnkey property is perfectly positioned in a prime Medford location. Just minutes from Assembly Row—featuring premier shopping, dining, and entertainment—and offering easy access to the Orange Line and I-93, plus off-street parking, this won't last!
All Showings will restart on Saturday September 5th 12 to 1PM. Two family Investment opportnunity in Medford with stable income potential and room for upside. Two unit duplex with separate systems. Straight forward, income- producing asset. The property is very well maintained and offers value-add potential. First and Second floor can be delivered vacant.
Medford is located in Massachusetts. Medford, Massachusetts has a population of 60,708. Medford is less family-centric than the surrounding county with 28.61% of the households containing married families with children. The county average for households married with children is 35.9%.
The median household income in Medford, Massachusetts is $107,853. The median household income for the surrounding county is $111,790 compared to the national median of $69,021. The median age of people living in Medford is 35.7 years.
The average high temperature in July is 82.3 degrees, with an average low temperature in January of 19.1 degrees. The average rainfall is approximately 48 inches per year, with 52.3 inches of snow per year.
