Multi-Family for Sale: 72-74 Thornton St, Revere, MA 02151 SOLD

16 beds
6 full baths
6,237 sqft
$1,740,000
$1,740,000
72-74 Thornton St, Revere, MA 02151 SOLD
16 beds
6 full baths
6,237 sqft
$1,740,000
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Selling Price: $1,740,000
Original List Price: $1,750,000
Sold at 99.4% of list price
Sold Date: 09/23/2024

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Type Multi-Family
Beds 16
Total Baths 6 full baths
Square Feet 6,237 sqft
Lot Size 0.11 acres
Year Built 1920
City Revere
County Suffolk
MLS 73255322
Status Closed
DOM 95 days
72-74 Thornton St is a three-story building and contains a total of six units, consisting of four 3-Bedroom/1-Bathroom units and two 2-Bedroom/1-Bathroom units. The Property is well-located in a renter-dominated market and is typically fully occupied with low historical vacancy. There is a limited supply of multifamily housing in Revere with a high demand for rental units, given its location along the shore and proximity to downtown Boston (5-miles). The Property is located 0.4-miles from the Revere Beach MBTA T-Station and also enjoys close proximity to the commercial center of Revere and the Revere Beach offering an abundance of shopping, restaurant and outdoor recreation amenities. Listed at a 6.46% cap-rate on current income, in-place rents are below the current market rent for comparable units in the market, offering the Buyer the potential to raise rents and increase current revenue through a programmatic upgrade of the common areas and units.

Lot & Building Features

Appliances Dryer, Washer
Sewer Public Sewer
Tax Year 2024
Taxes Paid $15,497
Water Public
Foundation Brick/Mortar, Stone
Roof Rubber
Full Baths 6
Total Rooms 28
Basement Feature Unfinished
Garage Spaces 0
Waterfront 3/10 to 1/2 Mile To Beach, Sound, Beach Ownership(Public), Beach Front

Price History of 72-74 Thornton St, Revere, MA

Date Name Price Difference
06/20/2024 Listing Price $1,740,000 N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.

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Photo of Wayne Bailey
Direct: 603-765-3564
Office
200 Rockingham Road.
Londonderry, NH 03053
603-437-4447
Listed by Horvath & Tremblay, Stephen Girolamo
Sold by Zhensight Realty LLC, May Mai
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6.75%
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Listing information courtesy of: Horvath & Tremblay

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