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4 Butler Ave 5 Unit Apartment Building $1,499,999 ($300,000/Unit) 5.29% Cap Rate Danvers, MA 01923
INVESTMENT HIGHLIGHTS
- Walk to downtown, resturants, coffee shops, and public transportation
- 9 off street parking spots for tenants and guests
- 3 of the 5 units have been renovated
EXECUTIVE SUMMARY
Exceptional investment opportunity! This well-maintained 5-family property offers 7 bedrooms+ and 5 bathrooms across multiple units, providing a strong foundation for steady rental income or multi-generational living. Located in a prime area, the property is close to shops, restaurants, transit & local amenities—highly attractive to prospective tenants. Each unit benefits from dedicated off-street parking. Utilities are fully separated, placing operating costs directly with tenants and maximizing net returns. The basement features a co-operated laundry setup for tenants, creating additional convenience and income potential. This property is low maintenance and turnkey. Brand new back stairs/deck. Many upgrades in varying units. Great tenants. Whether you’re expanding your portfolio or seeking a reliable income-producing asset, this property delivers consistent demand and exceptional investment performance.
DATA ROOM Click Here to Access
- Operating and Financials
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,499,999 | Apartment Style | Low-Rise |
| Price Per Unit | $300,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 5.29% | Building Size | 4,082 SF |
| No. Units | 5 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1900 |
| Zoning | R1 | ||
| Price | $1,499,999 |
| Price Per Unit | $300,000 |
| Sale Type | Investment |
| Cap Rate | 5.29% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.21 AC |
| Building Size | 4,082 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1900 |
| Zoning | R1 |
AMENITIES
UNIT AMENITIES
- Basement
SITE AMENITIES
- Laundry Facilities
- Gas Range
- Storage Space
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $1,800 | - |
| 2+1 | 1 | $1,800 | - |
| 1+1 | 1 | $1,800 | - |
| 2+1 | 1 | $1,800 | - |
| 1+1 | 1 | $2,050 | - |
1 1
Walk Score®
Very Walkable (82)
PROPERTY TAXES
| Parcel Number | DANV-000043-000000-000151 | Total Assessment | $919,000 (2025) |
| Land Assessment | $337,700 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $581,300 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
DANV-000043-000000-000151
Land Assessment
$337,700 (2025)
Improvements Assessment
$581,300 (2025)
Total Assessment
$919,000 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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