1-15 Esther Ter Pittsfield MA 01201

1-15 Esther Ter
01201
Pittsfield
Summary
Kind of Property: 
Type of Contract: 
Rooms: 
36
Bedrooms: 
24
Baths: 
12
Surface (m2): 
10211
Property ID: 
224365

Description

The Esther Terrace portfolio consists of six 2-family homes and an additional lot used for parking, which could allow for another 2 family to be built (buyer to verify). At list price and current rent roll, this portfolio nets a 9% cap rate, though with an upcoming revenue increase of $6,000 annually, that percentage will rise. Many recent improvements including landscaping, siding of one home, new paint, new carpet, and updating kitchens in many of the units. Most recently a water meter has been installed in 1 property resulting in $100 savings in water cost after the first quarter ($400 annually); adding meters to the remaining properties may result in similar savings. The units are 100% occupied and are easy to market and fill.

Price: 
$685 000
Status: 
Active

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