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14-16 Lakeville Rd
Jamaica Plain, MA 02130
All Offers Due 3/25/20 · Multifamily Property For Sale · 30 Units

INVESTMENT HIGHLIGHTS

  • RARE OPPORTUNITY - Last market rate "pondside" apartment building in JP
  • STABLE EXISTING CASH FLOW & UPSIDE POTENTIAL - Upside potential exists on some below market rents
  • TRUE GENERATIONAL REAL ESTATE - The current owners have held this in their family for decades

PROPERTY FACTS

No. Units 30
Property Type Multifamily
Property Subtype Apartment
Apartment Style Mid-Rise
Building Class C
Lot Size 0.40 AC
Building Size 28,816 SF
No. Stories 4
Year Built 1925
Zoning MFR

AMENITIES

UNIT AMENITIES

  • Heating
  • Kitchen
  • Range

ABOUT 14-16 LAKEVILLE RD , JAMAICA PLAIN, MA 02130

SITE DESCRIPTION LOT SIZE: 17,280 ± SF UTILITIES: Municipal water/sewer, electricity, natural gas, cable t.v., and phone serve the site. The trash removal is collected by the city. PARKING: Currently there is only street parking, however the rear lot, fronting on Goodrich Road, has the potential to be an on-site parking lot if a curb cut can be obtained from the city. ZONING: MFR Multi-Family Residential Subdistrict of The Jamaica Plain Neighborhood District PROPERTY DESCRIPTION BUILDING DESCRIPTION: Four-story masonry building built circa 1925 BUILDING AREA: 28,816 ± SF gross building area BASEMENT: Unfinished basement area includes building systems and storage CONSTRUCTION: Poured concrete basement, wood frame construction, and brick exterior ROOF: Rolled asphalt roof approximately 25 years old WINDOWS: Steel clad, double hung singe pane windows with aluminum encased storm windows with single pane glass approximately 30 years old. HVAC: Oil fired central heating system by steam. The boiler was replaced December, 2015. Heat and hot water is paid by the landlord. Air-conditioning is supplied by the tenants through electric window units ELECTRICITY: Separately metered 400 ampere main services. The tenants pay electricity APARTMENTS: The units have hardwood and vinyl flooring in the living areas and kitchens. The bathrooms and common areas have ceramic tile floors. Kitchens have wood cabinets, a sink (no disposal), and a gas stove. The gas stoves are separately metered. PORCHES: All upper floor units have exterior porches/decks LAUNDRY: There are coin-operated washers and dryers in the building CAPITAL IMPROVEMENTS: Hallways and common areas were repainted 3-4 years ago. As noted in the rent roll as stack of units were damaged by a water leak. Units 14-2, 14-5, and 14-12A have been repaired. 14-9 has not been started, but should be repaired and be rentable in approximately 3-4 weeks.

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 14 - -
2+1 16 - -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
JAMA-000000-000019-001984
Land Assessment
$1,596,200
Improvements Assessment
$4,122,100
Total Assessment
$5,718,300
  • Listing ID: 18803431

  • Date on Market: 3/9/2020

  • Last Updated:

  • Address: 14-16 Lakeville Rd, Jamaica Plain, MA 02130

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