Gomberg Report >
Massachusetts

Updated 5/2/2008
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Suffolk County
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
Contact Broker
 Chelsea
12 unit
New Listing
116,400
8.5
82,416
Fully occupied brick apartment building with all 1BR units. Below market rents.
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6 unit
768,000
80% Financing Available
70,800
10.85
128,000
Well maintained building with all 3BR apartments. Separate systems. Rents below market.
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24 unit
2,524,000
80% Financing Available
255,420
9.88
105,166
24-unit apartment building.
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32 unit
4,800,000
80% Financing Available
437,760
10.96
150,000
There are 26 2BR, 5 1BR and 1 studio apt. The bldg is adjacent to a beautiful park and has excellent views of the Boston skyline. The current owner has invested approx. $500,000.00 in improvements in kitchens and baths, hardwood floors and recessed lighting.
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6 unit
799,900
80% Financing Available
96,000
8.33
133,000
Brick 6-family in excellent condition with 1 2BR, 3 3BR & 2 4BR    Separate utilities  -  New windows  and rubber roof
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 Dorchester
6 unit
750,000
80% Financing Available
83,496
8.98
125,000
6-Family in excellent condition with all 2BR units. Front and rear porches. All of the units have separate gas boilers. Tenants pay heat and hot water.
contact broker
Retail Strip
1,550,000
Financing Available
185,000
8.3
Retail strip located on Blue Hill Ave. 7 retail units. Aggressive leases with built-in annual increases.
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9 unit
930,000
80% Financing Available
129,600
7.17
103,333
Apartment building with 6,477 sq. ft. of living area. Off-street parking for two cars.
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6 unit
630,000
80% Financing Available
86,400
7.29
105,000
Apartment building with 6,810 sq. ft. of living area.
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7 unit
1,165,000
80% Financing Available
132,000
8.8
166,428
Large 3 & 4BR apartments. Updated systems with gas furnaces. Recent deck updates and replacement windows. 2-car garage plus off-street parking.
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24 unit
2,541,000
80% Financing Available
328,880
7.7
105,875
Two side by side brick apartment buildings consisting of 24 units with on-site parking for 28 cars. There are 22 2BR bedroom and 2 1BR units.
Three of the units were constructed in the year 2001 and must be legalized. These 3 units have already been constructed to include separate gas meters.
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6 unit
625,000
80% Financing Available
66,000
9.4
104,177
All 2BR apartments.  Tenants pay utilities.  85% renovated, including new gas furnace and baseboard heat.  Two-car garage and off-street parking for 5 cars.
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6 unit
874,000
80% Financing Available
117,456
7.4
146,000
The property was completely renovated in 2006.  All 4BR units.  Additional income from coin-op laundry.  Building has signed lease with City of Boston for 15 years for low income housing.
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6 unit
725,000
80% Financing Available
77,340
9.37
120,833
Updated and fully rented 6-Family
contact broker
 East Boston
No current listings
 Hyde Park
No current listings
 Revere
6 unit
829,000
80% Financing Available
91,200
9.09
138,166
All units with de-lead certificates.  The units have separate utilities, and recent improvements include new heating systems and hot water heaters.   Close to Routes 93, 1 and 16
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6 unit
799,900
80% Financing Available
103,860
7.7
133,316
Property consists of 3 2BR & 3 3BR apartments located near Revere Beach.  Newer roof, back porches and windows.  Three units have new heat.  Coin-op laundry.
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6 unit
765,000
80% Financing Available
98,256
7.78
127,500
Well maintained 6-family with 2 2BR & 4 3BR units  -  All de-leaded.  New boiler and rubber roof. Walk to beach and Blue Line. 
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8 unit
695,000
90% Financing Available
71,340
9.74
86,875
Vinyl-sided apt. bldg. on quiet side street with rubber roof.  Coin-op laundry.  
10% down with seller second
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 Roxbury
10 unit
1,695,000
80% Financing Available
180,000
9.42
169,500
Mixed-use property with 3 and 4 bedroom units above street level retail. Separate utilities. Property totally redone in 1998. Approx. 15,000 sq. ft. of living area.
contact broker
 Winthrop
No current listings
Top
Middlesex County
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
Contact Broker
 Arlington
No current listings
 Ayer
12 unit
890,000
80% Financing Available
89,100
9.98
75,000
Property is a brick building consists of 12 units.  Many recent updates and separate utilities.
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 Billerica
No current lisitngs
 Everett
6 unit
950,000
80% Financing Available
116,700
8.1
158,333
Property has all 3BR units, separate utilities, coin-op laundry, newer roof and newer windows.
contact broker
 Framingham
No current listings
 Lowell
56 unit
3,900,000
80% Financing Available
473,508
8.23
69,642
Brick construction with quality modern apartments and modern appliances. Tenants pay their own utilities. All 1BR apartments. Off-street parking and underground parking.
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12 unit
789,900
80% Financing Available
102,505
7.7
65,825
Pristine apartment building with all renovated 1BR units. Tenants pay all utilities. Off-street parking.
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11 unit
749,900
80% Financing Available
88,175
8.5
68,172
Pristine apartment building with all renovated 1BR units. Tenants pay all utilities. Off-street parking.
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28 unit
1,760,000
80% Financing Available
215,346
8.17
62,857
Property consists of two buildings with all 1BR apartments. Both buildings are in excellent condition and located just under a mile from the Dracut line. Tenants pay utilities.
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19 unit
mixed-use
999,000
Financing Available
123,600
8.08
52,578
Property consists of three neighboring buildings with 13 apartments and 6 store fronts. Only one current vacancy
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9 unit
659,900
80% Financing Available
83,400
7.91
73,322
Property consists of 2 buildings on .43 acre lot with 2 1BR and 7 2BR units. Extensively renovated. Separate utilities. 3-car garage. Lead certs for 8 of 9 units.
contact broker


12 unit
915,000
80% Financing Available
106,080
8.62
76,250
4 buildings on 1 lot: A 6 unit, 3 unit, 2 unit and a small single family home. The property is deleaded and is currently 100% occupied w/ seperately metered, tenant paid utilities.
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12 unit
750,000
80% Financing Available
85,500
8.77
62,500
Two abutting 6-Familys with 2 studios, 3 1BR, 3 2BR, 3 3BR and one commercial unit (Barbershop).  Tenants pay utilities.
contact broker

10 unit
689,900
80% Financing Available
92,400
7.46
Fully occupied apartment building located in the Belvidere area.  Off-street parking for 11 cars.  Coin-op laundry.
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6 unit
625,000
90% Financing Available
57,600
10.85
104,166
6-Family located in the Highlands area.  Recent updates include heating systems, roof and floors.  All separate utilities.   
10% down with seller second
contact broker
 Malden
No current listings
 Maynard
6 unit
Mixed Use
550,000
90% Financing Available
69,950
7.86
91,666
Property consists of 1 retail space and 5 residential units.  10 off street parking spots, separate utilities and in good condition. 
  10% down with seller second
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broker


9 unit
649,900
80% Financing Available
83,386
7.79
72,211
Fully occupied apartment building with 7 2BR and 2 studios.  Vinyl-sided and newer roof.  Built in 1980.  Ample parking on .87 acre lot.
contact broker
 Marlborough

6 unit
599,900
80% Financing Available
67,200
9.08
99,750
1 1BR, 3 2BR & 2 3BR apartments.  Situated on .25 acre lot with off-street parking for 12 cars.
contact broker
 Pepperell
8 unit
695,900
80% Financing Available
72,780
9.56
86,987
Located in the center of town, this multi-family has vinyl siding and new windows. Many units have updated baths and kitchens. Off-street parking for 12 cars.
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 Somerville
6 unit
1,150,000
80% Financing Available
108,000
10.65
191,666
Huge 6-Family with over 11,500 sq. ft. of living area. All 3BR units with large decks. Separate systems. Plenty of parking. Fully occupied.
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14 unit
1,600,000
80% Financing Available
146,520
10.92
114,285
The apartments are located a 1 min. walk to Sullivan Square T stop Situated on a 5433 sq. ft. corner lot the property has new vinyl windows and new boilers. Building is comprised of 1 3BR, 1 2BR, 2 !BR and 10 studios. There is laundry facilities in the building.
contact broker

6 unit
710,000
90% Financing Available
69,600
10.2
118,333
6-Family located near the Sullivan Orange Line T stop.  There are 4 1BR and 2 2BR units.
  10% down with seller second
contact broker
 Wakefield

6 unit
795,000
80% Financing Available
79,140
10.04
132,500
6-Family with 2 1BR & 4 2BR units.  Six new gas boilers and new gas hot water.  Coin-op laundry, off-street parking and 2-bay garage.
contact broker
 Waltham
No current listings

 Woburn
9 unit
mixed-use
939,900
80% Financing Available
106,320
8.8
104,433
Property consists of 2 studios, 6 1BR and a commercial unit occupied by a Real Estate Agency. Off-street parking for 10 cars. One block from downtown.
contact broker
Top
Essex County
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
Contact Broker
Amesbury
No current listings
Andover
6 unit
mixed-use
749,900
80% Financing Available
75,000
9.99
124,983
This building consists of 6 meticulously maintained Units. 5 Residential & 1 Retail. It has parking for 6 cars, overlooking Shawsheen River. Close to train station & public transportation. Building is de-leaded, new insulated replacement windows, seperate utilities & coin operated laundry.
contact broker
Beverly

18 unit
mixed-use
1,875,000
80% Financing Available
195,260
9.6
104,166
Mixed use building consisting of 14 residential units and 4 commercial units at street level, as well as parking on separate buildable lot. Most utilities separate.
contact broker
 Haverhill
57 unit
3,705,000
80% Financing Available
441,408
8.39
65,000
Portfolio consists of ten multi-family properties: 1 10-unit, 1 8-unit, 1 7-unit, 3 6-units, 1 5-unit and 3 3-units.
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34 unit
2,040,000
80% Financing Available
255,348
7.99
60,000
Property consists of 7 buildings in excellent condition.  New windows and roofs.  All buildings have separate utilities.  All units deleaded.  Same owner for 45 years.
contact broker
 Lawrence
23 unit
New Listing
1,610,000
80% Financing Available
240,768
6.68
70,000
Property consists of a brick 17-unit apartment building with 9 2BR and 8 3BR units, and a 6-Family with all 4BR units. Tenants pay for utilities.
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Office Bldg.

1,800,000
Financing Available
262,656
6.85
81,818
22 suite office building within close proximity to Northern Essex Community College.  Highlights include new roof, computer controlled HVAC and within close proximity to the new downtown 1.2 billion dollar renovation project.
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9 unit
869,900
90% Financing Available
96,000
9.06
96,522
Property consists of 3,060 sf of commercial space below 8 apartments.  There are 2 1BR & 6 2BR.  Totally renovated property.  Sprinkler system, newer roof, new interior paint & off-street parking.  Billboard rental for additional income.  Below market rents.  10% down with seller second
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 Lynn
48 unit
New Listing
3,350,000
80% Financing Available
402,720
8.32
69,791
100% occupied. All units are separate metered for heat and have modern kitchens and baths and vinyl replacement windows. Coin-op laundry.
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8 unit
650,000
80% Financing Available
81,000
8.15
82,500
Large, well maintained multi-family with 4 1BR, 2 2BR and 2 3BR units. Tenants pay for their own heat. Large lot with parking for 16 cars.
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12 unit
1,050,000
80% Financing Available
126,000
8.33
87,583
All 2BR apartments. Off-street parking for 20 cars. Tenants pay for heat.
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34 unit
2,500,000
80% Financing Available
366,408
6.8
73,529
32 residential units, 2 commercial units, 2 cell tower leases, laundry income on each floor, new roof, new burner, full clean basement and two parking lots.
contact broker
 Methuen
23 unit
Mixed Use
1,499,000
140,279
10.68
65,173
Property consists of 2 buildings.  One of which is a 19 room boarding house with a bar in the lower level and the 2nd building is a flower shop with an apartment on the upper level and a storage building at the back.  Many updates and ample parking.
contact
broker
 Peabody
13 unit
1,350,000
90% Financing Available
175,136
7.7
103,846
Free Standing Wood Frame/ Four (4) Story/ Twelve (12) Apartment Units/ One (1) Sidewalk Retail Liquor Store Containing Two Thousand Five Hundred Eighty Four (2,584) Square Ft. This Liquor Store is available to purchase separately from the real estate. 
10% down with seller 2nd
contact broker
 Salem
24 unit
2,500,000
80% Financing Available
260,520
9.6
104,166
Well maintained brick apartment building with 2 1BR and 22 2BR units. Tenants pay for utilities. There are individual storage areas for each unit and off-street parking for 11 cars.
contact broker
Rooming House
1,125,000
Financing Available
182,508
6.16
53,571
Well maintained brick building with 21 rooms. Updates include newer mechanicals, furnace and replacement windows. All the kitchens and baths have also been updated. Coin-op laundry room.
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11 unit
925,000
80% Financing Available
98,460
9.39
84,090
Victorian has 10 studio apartments and 1 2BR. Renovated in 1992. Coin-op laundry. Ample off-street parking on .21 acre lot.
contact broker
No picture available
13 unit
1,200,000
80% Financing Available
119,284
10.06
92,307
13-unit apartment building with on-site laundry.
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6 unit
639,900
80% Financing Available
61,920
10.33
106,650
Brick building with mostly 3BR apartments.  All separate utilities.
contact broker
 Salisbury
No current listings
 Saugus
6 unit
950,000
80% Financing Available
81,600
11.64
158,333
Mint condition, fully occupied building consisting of 2 1BR and 4 2BR units. Central gas fired heating system,new tilt in replacement windows, brick work re-pointed, new front steps and new retaining wall. Most tenants are TAW with lead certs. There are 6 off street parking spaces and a coin laundry in the basement.
contact broker
 Swampscott
No current listings
Top
Norfolk County
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
Contact Broker
Bellingham
No current listings
Foxboro
13 unit
1,299,900
80% Financing Available
141,8400
9.16
99,992
Fully occupied building with 6 1BR and 7 2BR apartments. Laundry room, storage and 5-car garage in rear. All units are in excellent condition. All new vinyl windows, vinyl siding and brand new roof. Electrical system needs updating ($10,000 quote in hand).
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Medway
12 unit
1,040,000
80% Financing Available
126,600
8.21
86,666
Property consists of two 6-unit buildings with all 2BR apartments. Tenants pay for own heat and electric. Large parking area shared between the two buildings. One of the bldgs. was built in 1998 and the other has many recent improvments, including kitchens, baths, carpet and paint.
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14 unit
875,900
80% Financing Available
102,360
8.55
62,500
14 residential units in 1700's historic Village Inn. Great downtown location, easy units to rent with low to zero vacancy. 7 one bedroom units and 7 rented rooms with two common baths. Fully rented. Completely updated.
contact broker
Quincy
17 unit
New Listing
2,300,000
80% Financing Available
214,800
10.71
135,294
Property consists of 3 two-story building with 9 1BR and 8 2BR units. Each building has laundry facilities and off-street parking. All kitchens have been renovated.
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12 unit
1,440,000
80% Financing Available
151,200
9.52
120,000
3-story apartment building with 6 1BR and 6 4BR units. Tenants pay for oil heat. Parking for 28 cars.
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8 unit
1,049,000
80% Financing Available
121,236
8.65
121,236
Property consists of two side-by-side 4-unit bldgs. All 750 sq. ft. 2BR apartments. Walk to private beach across the street. Well maintained with vinyl siding.
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6 unit
659,500
80% Financing Available
73,800
8.9
109,900
1 1BR and 5 2BR units. Vinyl sided, laundry area and off-street parking for 8 cars.
contact broker
 Stoughton
Retail Bldg.
899,000
Financing Available
104,208
8.6
Fully occupied 7,450 square foot retail building with 4 tenants. Located on busy Rte 27.
contact broker
Industrial
1,000,000
Financing Available
110,280
9
20,000 sq. ft. industrial building fully occupied with three tenants.
contact broker
Industrial
1,285,000
Financing Available
143,928
8.9
25,584 sq. ft. industrial building with 16 units.
contact broker
Industrial
975,000
Financing Available
88,200
11
13,750 sq. ft. industrial building with 7 units.
contact broker
Industrial
550,000
Financing Available
63,300
8.6
10,000 sq. ft. industrial building with 6 units.
contact broker
 
Top
Hampden County
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
Contact Broker
 Agawam
No current listings
 Chicopee

12 unit 
740,000
80% Financing Available
95,220
7.77
62,500
This brick building consists of three 2BR and nine 1BR.  Building has parking and an on-site superintendent for management and maintenance.
contact
broker

11 unit
679,900
80% Financing Available
102,180
6.65
61,809
3 Three Family buildings and 2 single family houses on a 1/2 acre lot. Each has separate utilities. Fully rented. Gas central heat for each. 2 of the 3 family bldg. feature 5 rooms each unit and one 3 family features 6 room apts. All are either 3 or 4 Bedrooms. Lead certificates & replacement windows.
contact broker
 Holyoke
12 unit
New Listing
695,,000
80% Financing Available
121,584
5.71
57,916
4-story brick apartment building with 4 1BR, 4 3BR and 4 4BR units. Over 17,000 square feet of rentable space.
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72 unit
2,400,000
80% Financing Available
495,756
4.84
33,333
7-story brick mixed-use building with two elevators. There are 4 studios, 54 1BR, 7 2BR & 1 3BR apartments plus 6 commercial spaces. Plumbing, heating and electrical systems have been upgraded.
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48 unit
1,536,000
80% Financing Available
302,880
5.07
32,000
Property consists of 42 1BR, 4 2BR and two commercial units.
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25 unit
800,000
80% Financing Available
123,258
6.49
32,000
Brick building with 22 1BR, 1 2BR & 2 3BR apartments. No deferred maintenance.
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25 unit
800,000
80% Financing Available
203,808
3.93
32,000
Brick elevator building with 15 1BR & 10 2BR apartments. No deferred maintenance.
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20 unit
640,000
80% Financing Available
173,448
3.69
32,000
Brick elevator building with 5 1BR, 11 2BR & 4 3BR apartments. Plumbing, heating and electrical systems have been updated. No deferred maintenance.
contact broker
No picture available
100 unit
3,500,000
80% Financing Available
1,082,787
3.23
35,000
Portfolio consists of ten separate parcels located within a 1.5 mile redius. All properties were updated in 1989 with new kitchens, baths, windows, back porches and heating systems. Each of the 10 buildings contains between 6 and 16 apartments.
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176 unit
7,755,000
80% Financing Available
1,178,400
6.58
42,285
Property consists of 11 apartment buildings which has 40 3BR, 94 2BR, 16 1BR, 10 studios and 7 retail stores.  There is also 39 garage parking spaces.  All buildings have new rubber roofs and replacement windows. 
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broker
17 unit
699,000
90% Financing Available
142,800
4.9
41,117
Well maintained apartment building with large units and 10 garages for additional income.
10% down with seller second
contact broker
 Indian Orchard
No current listings
 Monson
No current lisitngs
 Springfield
16 unit
New Listing
800,000
80% Financing Available
141,000
5.67
Apartment building with mix of 1BR and 2BR units.
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13 unit
New Listing
780,000
80% Financing Available
142,500
5.47
Brick apartment building withy 2 1BR, 4 2BR, 4 3BR and 3 4BR units.
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13 unit
New Listing
650,000
80% Financing Available
113,100
5.75
Apartment building with 4 1BR and 9 2BR units.
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20 unit
824,000
80% Financing Available
174,000
4.74
Apartment building with 8 1BR, 8 2BR and 4 3BR units. New roof, new gas boiler, replacement windows, updated rear porches and updated fired alarm. De-lead certs. for all units.
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51 unit
1,800,000
80% Financing Available
354,456
5.08
Three buildings consisting of 50 apartments plus one office and 1 garage. The office is 1,500 sq ft with a/c units. This property has new windows, roofs all < 4 yrs old, 2 of the 3 heating systems < 4 yrs old, back porches < 4 yrs old, new fire alarm and seperate electric. Lead certificates available for entire property. 75% of kitchens have been redone. Refrigerators are provided by the tenants, but oven ranges are all < 4 yrs old! Only 2 vacancies.
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116 unit
4,799,000
80% Financing Available
797,100
6.02
Portfolio consists of five brick apartment bldgs. There are 28 studios, 55 1BR and 33 2BR units.
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 Westfield
50 unit
3,550,000
80% Financing Available
445,980
7.96
71,000
5-story elevator building with one commercial unit and 49 apartments. Many recent capital improvements. 30 covered and 42 open parking spaces.
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12 unit
699,000
80% Financing Available
94,620
7.39
58,250
Apartment building with 6 1BR and 6 2BR units. Recent updates include new boiler, common area paint and carpeting, several apts. paint and carpeting and rebuilt chimney.
contact broker
Top
Bristol County
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
Contact Broker
 Attleboro
24 unit
mixed-use
1,500,000
80% Financing Available
206,490
7.26
62,500
Property is comprised of 3-stores, 2-2BR 19-1BR units totaling 30,106 square feet of gross building area in a four story brick building. Located in the center of downtown and situated on a 9737 sq. ft. lot. Additional income through on-site laundry facility (2 washers-2 dryers). Owner provides heat, hot water and electric to all units.
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10 unit
879,900
80% Financing Available
88,500
9.9
87,990
Property consists of a 6-Family and two 2-Family buildings on the same lot. Many updates. Across from the train station.