Open House May 19, 2024
12:00 – 01:00
Large Mansard-style 3-family property situated in the sought-after West Medford area. The 1st floor features a 2-bed unit with a dining room, while the 2nd floor offers another 2-bed unit with dining room + office space. The 3rd floor contains a 1-bed unit. The spacious basement is equipped with separate heating, hot water, & electric systems for each unit, reducing the landlord’s expenses. The property is fully tenanted, with lease renewals scheduled for mid-2024. It rests on a sizable lot with plenty of parking for each unit, making it suitable for future condo conversion. The property generates a gross monthly income of $6,150, with potential for growth. This location is a commuter’s dream, situated just 0.2 miles from the West Medford commuter rail station & offering easy access to commuter routes such as I-93, Route 2, and Route 16, as well as numerous bus stops. The property provides convenient access to Tufts University, Whole Foods, & a variety of shops & restaurants!

Property Details

Price:
$1,199,000
MLS #:
73230648
Status:
Active
Beds:
5
Baths:
3
Address:
17-19 Canal St
Type:
Multi Family
Subtype:
3 Family
City:
Medford
Listed Date:
Apr 30, 2024
State:
MA
Finished Sq Ft:
3,024
ZIP:
02155
Lot Size:
7,802 sqft / 0.18 acres (approx)
Year Built:
1910
Units:
3

Schools

Interior

Appliances
Washer, Dryer, Range, Dishwasher, Refrigerator
Bathrooms
3 Full Bathrooms
Flooring
Wood

Exterior

Community Features
Public Transportation, Shopping, Park, Walk/ Jog Trails, Public School, T- Station, Sidewalks
Construction Materials
Frame
Parking Features
Off Street
Parking Spots
6
Roof
Shingle

Financial

Buyer Agent Compensation
2%
Net Operating Income
$71,425
Tax Year
2024
Taxes
$9,743

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CRP: Certified Relocation Professional
CRS: Certified Residential Specialist
GRI: Graduate of Realtors Institute
CBR: Certified Buyers Representative
BSBA: Bachelor of Science in Business Administration. Babson College 1979
MBA: Master of Business Administration. Babson College 2002

James M. Joly is President and Principal-Owner of Boardwalk Real Estate Corp.,…

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17-19 Canal St
Medford, MA