This Multifamily Property is Off-Market.

26 South Water Street
New Bedford, MA 02740 ·

34 Units · Multifamily For Sale

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34 Units on the Waterfront

Price N/A Property Use Type Investment
No. Units 34 Commission Split 1.5%
Building Size 49,992 SF Cap Rate 8.05%
Property Type Multifamily Occupancy 98%
Property Sub-type Garden/Low-Rise Lot Size 25,783 SF
Listing ID: 18146655 Date Created: 04/29/2013 Last Updated: 11/22/2013

Description

Thirty four units overlooking the harbor consisting of 19-two bedroom, 14-one bedroom and 1-studio apartment with two bedrooms having two baths. Penthouse units have balconies with water views. Type A construction with concrete floors and ceilings since it is a converted warehouse. Property lends itself to condo conversion when the market improves. Units have separate heat (electric-FHA) and hot water paid by the tenants. Off street parking available to tenants. BEFORE SCHEDULING A SHOWING THE BUYER MUST DRIVE BY THE PROPERTY, REVIEW THE FINANCIALS ATTACHED AND BE READY TO DISCUSS VALUE WITH THE LISTING BROKER. THIS IS A FULLY OCCUPIED BUILDING DO NOT DISTURB OR SPEAK TO THE TENANTS ON SITE. WEEKDAY SHOWINGS ONLY. NO EXCEPTIONS.

BEFORE SCHEDULING A SHOWING THE BUYER MUST DRIVE BY THE PROPERTY, REVIEW THE FINANCIALS ATTACHED AND BE READY TO DISCUSS VALUE WITH THE LISTING BROKER. THIS IS A FULLY OCCUPIED BUILDING DO NOT DISTURB OR SPEAK TO THE TENANTS ON SITE. WEEKDAY SHOWINGS ONLY. NO EXCEPTIONS.

Highlights

  • Across the street from Waterfont
  • Class A Construction with waterviews
  • Ideal Condo Conversion when market improves
  • Tenants pay heat and hot water
  • Off street parking for tenants
  • Penthouse units have balconies

Research

26 South Water Street, New Bedford, MA 02740 (Bristol County)

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