Back on Market due to appraisal error: This is a three unit prop. not four. This property A truly one of a kind property with potentials to subdivide or expand. This property features a rare lot size of a whopping 23,292 SqFt. conveniently located in the downtown area making it an ideal location for discerning investors and developers. The first unit has 4 bds and 2 baths. Previously an owner’s unit; it features gleaming hardwood floors through out, stainless steel appliances, granite countertops, and a ductless Mini-Split System. The units on the left side of the building, one has one bedroom and the unit on the second floor has two bedrooms, all with large closet spaces. The lower level is partially finished with exterior entry. Current TAW tenants with lower rents offer flexibility for new management strategies. Tenant Appeal: Close to local attractions, public transportation, and major highways, appealing to long-term residents. Newer roof, utilities at the property are sub-metered

Property Details

Price:
$1,120,000
MLS #:
73398645
Status:
Active
Beds:
9
Baths:
5
Address:
62-R Wallis Street
Type:
Multi Family
Subtype:
3 Family
City:
Peabody
Listed Date:
Jul 1, 2025
State:
MA
Finished Sq Ft:
4,276
Total Sq Ft:
4,276
ZIP:
01960
Lot Size:
23,292 sqft / 0.53 acres (approx)
Year Built:
1985
Units:
3

Schools

Interior

Appliances
Range, Microwave, Refrigerator
Bathrooms
5 Full Bathrooms
Cooling
Ductless
Flooring
Carpet, Laminate, Hardwood
Heating
Natural Gas
Laundry Features
Electric Dryer Hookup, Washer Hookup

Exterior

Community Features
Public Transportation, Shopping, Park, Medical Facility, Highway Access, House of Worship, Public School
Exterior Features
Rain Gutters, Garden, Other
Parking Features
Paved Drive, Off Street
Parking Spots
8
Roof
Shingle

Financial

Net Operating Income
$61,800
Tax Year
2025
Taxes
$9,677

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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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62-R Wallis Street
Peabody, MA