Well maintained two-family in a desirable area. First floor unit offers 3 bedrooms, 2 full baths with access to a full basement. Second floor unit includes 1 bedroom and 1 full bath. The back deck overlooks a fenced in private yard with a shed. The new large driveway can accommodate 5-6 cars. Many home upgrades have been completed including new electrical service, high efficiency gas heating system, new appliances, roof, gutters, deck and rebuilt chimneys with caps. Previous monthly rents totaled 5k. Easy access to highways, public transportation, shopping, restaurants and all North Andover has to offer!
The property currently generates approximately $141,132 in gross annual rental income with net income of $120,111, providing strong in-place cash flow. This 5-unit multi-family investment at 94 Main Street in North Andover offers 10 bedrooms and 5 full, 1 half bath across approximately 3,884 sq ft of living space. The units feature a mix of 1-, 2-, and 3-bedroom layouts. Situated on a 0.22-acre corner lot, the property includes 10 off-street parking spaces, a full unfinished basement, vinyl exterior, asphalt shingle roof, and city water and sewer. Conveniently located near public transportation, shopping, parks, and major highway access. Annual operating data available. A strong opportunity for investors seeking a well-located, income-producing asset in the North Andover market.
North Andover is located in Massachusetts. North Andover, Massachusetts has a population of 30,671. North Andover is more family-centric than the surrounding county with 36.92% of the households containing married families with children. The county average for households married with children is 30.06%.
The median household income in North Andover, Massachusetts is $120,954. The median household income for the surrounding county is $86,684 compared to the national median of $69,021. The median age of people living in North Andover is 38.4 years.
The average high temperature in July is 82.7 degrees, with an average low temperature in January of 17.3 degrees. The average rainfall is approximately 47.5 inches per year, with 53.5 inches of snow per year.
