138 Grand View Ave 3 Unit Apartment Building $1,695,000 ($565,000/Unit) 10% Cap Rate Quincy, MA 02170

Turn-key business opportunity to own and manage a 12 bedroom rental property in highly desirable location in Quincy, MA. Fully furnished and 100% occupied with long-term tenants with a 10% cap rate. Solid investment opportunity towards owning the historic Victorian multi-family property atop Wollaston Hill in Quincy, MA.

1. Excellent location that is walking distance to the Red Line train station (at Wollaston/Quincy) and MBTA bus stop is a block away at the bottom of the hill.
2. House has massive expansion potential with 2 separate dry, walk-out basements (NOT bulkheads) with full sized windows, lots of sunlight, and high ceilings.
3. Further expansion potential is an attic room with a loft that has a skylight already installed - ready to be finished and make it the 13 or 14 bedroom property.
4. Highly desirable, safe, and quiet neighborhood atop Wollaston Hill in an excellent school district.
5. Walk to coffee shops, restaurants, 24-hour CVS, supermarkets, library, post office, and Wollaston Beach.
6. 100% occupancy since 2003 when I bought the property.
7. Eight (8) off-street parking spaces; a 3-car garage, and a tool shed.

Other interesting details

1. Grandview Avenue was voted 4th best street on which to live in the Boston area by Boston Magazine.
2. House is built on a granite foundation (from the Quincy quarries) and has a solid structure.
3. Built in 1896 on the former estate of President John Adams and John Quincy Adams, the house and the street have a lot of historic details.
4. All windows were replaced, original hardwood and parquet floors throughout, and forced hot air ducts.
5. Overlooks a massive gorgeous Copper Beech tree that was planted by President John Quincy Adams.
6. Tree-lined streets atop Wollaston Hill alongside other historic Victorians and Colonials.
7. No flood insurance needed due to being on a hill; both duplex basements are dry.
8. Widow’s Walk has views of the Boston skyline and ocean skyline.
9. Two original fireplaces; a formal foyer with a good morning, double staircase; a servant's passthrough into the pantry; and other historic details remain.
10. Fully furnished and fully rented to earn immediate rental income.