Unit Information
First time on the market! Rare opportunity to own a historic mixed-use property in a central Spencer location with 17 rental units and multiple income-producing uses. The property includes 7 residential 1- and 2-bedroom apartments and 10 commercial office spaces, offering a diverse tenant mix.Current gross annual income is $153,296 with reported annual expenses of $56,240. The 3-story building, originally established circa 1890, offers approximately 9,934 square feet of combined residential and office space and retains charming historic details throughout.The property sits on approximately 0.82 acres with 25+ off-street parking spaces and additional land that may offer potential for expanded parking and/or additional buildings, subject to town approvals. Public water and sewer, natural gas, paved parking, and legal-conforming mixed-use zoning add to the property's functionality.Located near downtown and adjacent to beautiful Isaac Prouty Veterans Park, with easy access to public transportation, shopping, restaurants, and other amenities. Conveniently situated less than 15 minutes from Worcester Regional Airport, the Mass Pike, and major routes.A unique opportunity to acquire a well-located mixed-use property with established rental income, a diversified unit mix, ample parking, and potential for future growth.
- Additional Details
- Status: New
- Type: Multi-Family, Multi Family
- Zip Code: 01562
- Levels: 5
- Parking
- Garage Capacity: 25
- Parking: Paved,Off Street
- Parking Spaces: 25
- Rooms and Dimensions
- Total Units: 17
- Total Floors: 5
- Total Rooms: 35
- Has Basement: Yes
Loading...
$1,200,000
- Status: New
- Listing ID: 73589863
- Bedrooms: 8
- Full Baths: 7
- Half Baths: 5
- Living Area: 9,122 sqft Convert
- Lot Size: 35,790 sqft Convert
- Acres: 0.82
View description
Luxury Residential Group
(617) 233-5800
Receive more info or arrange a tour
When you are ready, please contact us and we will put our unrivaled knowledge of the Boston real estate market to work for you. Whether you are buying a luxury condo or renting a luxury apartment, we pledge to make your experience as stress free and enjoyable as possible.
Please call, email, or send us a message through the web form below. An LRG Real Estate agent will contact you promptly.
LRG Luxury Residential Group | 355 Boylston St, Boston MA 02116 | (617) 233-5800 | |