Northeast Private Client Group is pleased to offer the Florida Road Apartments, a 12-unit multifamily property located in Maynard, MA.
The building consists of four large studio units, four one-bedroom units, and four three-bedroom units. The property includes ample off-street parking, and tenant-paid heat, hot water, and electric. The majority of the units are heated by electric baseboard heat, and one unit has a gason- gas stove heater. The common areas are hardwired with smoke detectors and lights.
The Florida Road Apartments are a significant value add opportunity. The tenants are paying well below-market rents, the basement has considerable space for washer and dryer installations, an insurance deduction with the removal of the gas-on-gas stove heating unit, and a potential tax abatement due to the town’s current above-market property tax assessment.
The property is only blocks from downtown Maynard which includes shops, restaurants, banks, and Clock Tower Place Office Park.
Maynard, Middlesex County, MA