Gomberg Report >
Massachusetts

Updated 8/20/2010
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Suffolk County
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
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 Boston
10 unit
mixed-use
495,600
12.15
Complete renovation of two grand buildings located in Boston's Mid-town neighborhood. The mixed-use development consists of two street level retail units, two second floor office units, three 3BR apartments and three 4BR apartments. 2009 renovation included all new utilities, elevator and roof. Steps to the Boston Common, Financial District, Downtown Shopping, Emerson College and Suffolk Law School.
 Dorchester
10 unit
mixed-use
128,580
6.99
89,500
4-story brick building built in 1930 consisting of two newer storefronts and 8 apartments above (2 studios, 6 1BR).
 Revere
6 unit
81,100
7.4
99,833
Fully occupied 6-Family one block from Revere Beach. Newer separate gas heating systems and hot water tanks. Modern kitchens and bathrooms, hardwood floors, newer replacement windows, coin-op laundry, storage in basement and some water views.
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Middlesex County
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
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 Framingham
22 unit
265,000
7.36
88,636
Property consists of two garden style brick apartment buildings with all 2BR units. Additional income from parking. Owner pays heat and hot water.
 Lowell
12 unit
mixed-use
New Listing
55,200
8.15
37,500
Property consists of 2 studios, 3 1BR, 3 2BR, 3 3BR and one commercial unit. Tenants pay all utilities, including heat. Located near the Lowell Historical Park and the Tsongas Arena.
7 unit
mixed-use
121,284
5.77
99,985
Property consists of 1 4BR/2BA, 3 4BR/2.5BA, 1 5BR/1.5BA, 1 5BR/2.5BA and 1 commercial space occupied by a church since 2003. Recently rehabbed units kitchens, baths, heat, plumbing and electric. Additional income from laundry.
8 unit
78,540
7.32
71,875
3-story building with 1 1BR, 6 2BR and 1 4BR unit. Utilities are paid by tenant. New plumbing, heating systems and decks. Off-street parking.
15 unit
mixed-use
175,836
6.97
81,666
Property is located one block from City Hall and consists of four retail and 11 apartments (4 1BR and 7 2BR). Newer rubber roof and vinyl windows. Several units recently renovated.
 Somerville
12 unit
mixed-use
New Listing
146,484
10.58
129,202
Mixed use property consists of ten apartments (8 1BR and 2 3BR) and two ground floor retail units. The retail units are both over 1,000 sq. ft. and occupied by TAWs. Additional income from coin-op laundry. All units are separately metered for heat and electric and are paid for by tenants.
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Essex County
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
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 Haverhill
25 unit
mixed-use
202,800
6.38
51,760
Three story brick corner building with 19 1BR, 4 2BR and 1 3BR apartment plus 1 retail storefront. Updated electric, plumbing and thermopane windows.
 Lawrence
13 unit
126,000
5.95
57,846
Three well maintained buildings on one lot consisting of 4 1BR and 9 3BR units. Tenant paid utilities. This property may also be purchased as a portfolio with the below listed 12 units.
12 unit
144,300
5.54
66,658
Four well maintained buildings on one lot consisting of all 3BR units. Tenant paid utilities. This property may also be purchased as a portfolio with the above listed 13 units.
14 unit
mixed-use
110,000
7.27
57,135
Mixed-use property with apartments above retail storefront.
 Lynn
17 unit
192,300
6.63
75,000
Property consists of 2 buildings with at total of 2 studios and 15 2BR units. Well maintained with new roof, new windows, new water heaters and newer gas boilers. Some off-street parking.
 Methuen
18 unit
192,480
9.29
99,388
Brick building was rehabbed in 2003 with new kitchens, baths, common areas, roof and parking lot. It is in excellent condition. There are 1 studio, 6 1 BR and 11 2BR units. Additional income from laundry.
Peabody
16 unit
mixed-use
136,200
5.87
49,993
Property consists of 15 furnished rooming units and 1 retail unit occupied by a Liquor store for 40+ years. Rehabbed in 2006 and in pristine condition. All units have hardwood floors and central A/C. Building is sprinklered.
 Salem
12 unit
173,600
8.66
125,000
Property consists of two buildings: a 3-story brick with all 3BR units, and a 3-story woodframe with 2 2BR and 4 3BR units. Utilities are paid by tenant. Significant improvements to both properties in recent years. Additional income from 6 garages and laundry.
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Norfolk County
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
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Quincy
17 unit
212,520
7.98
99,705
Three well maintained two-story buildings containing 9 1BR and 8 2BR units. Each building has laundry facilities. Ample parking on 21,134 sq. ft. lot. Roof, furnaces and windows were updated approx. 10 years ago. Kitchens and common areas have recent updates.
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Hampden County
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
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 Agawam
32 unit
New Listing
395,655
6.95
85,937
The property consists of 4 two-story buildings containing about 30,000 sq. ft. of living area and situated on 2.8 acres of land. Built in 1958 the structures are wood framed and have a brown decorative brick exterior. All large (938-1019 sq. ft.) 2BR units considered to be in excellent condition. Owner pays gas heat. Each building has a coin-op laundry room.
 Chicopee
48 unit
New Listing
471,827
8.05
79,166
Property consisits of 8 contiguous apartment buildings containing about 44,000 sq. ft. of living area and situated on 3.13 acres of land. Built in 1960, they are wood frame with brick veneer. Tenants pay own utilities, including heat. There are 1 studio, 2 1BR and 45 2 BR units and a rental office. The apartments are in excellent condition with 41 of 48 units having renovated kitchens and baths. This property may also be purchased as a portfolio with the below listed 54 units.
54 unit
New Listing
568,500
7.56
79,629
Property consisits of 5 apartment buildings containing about 58,000 sq. ft. of living area and situated on 2.92 acres of land. Built in 1974, they are wood frame with brick veneer and asphalt mansard. Tenants pay own utilities, including heat. There are 5 1BR and 49 2BR units in excellent condition. All new roofs in 2009 and new laundry room in 2010 with six washers / dryers owned by the complex. This property may also be purchased as a portfolio with the above listed 48 units.
21 unit
218,508
6.86
71,428
Property consists of a 12-unit, 8-unit and single family located in a residential neighborhood. There are 12 2BR, 3 3BR, and 6 4BR units. Coin-op laundry. Only one vacancy.
 Springfield
16 unit
129,600
3.82
30,937
Brick 4-story walk-up apartment building with all 2BR units. Situated on .28 acres.
17 unit
mixed-use
118,536
4.18
29,117
Brick building has 15 apartments above 2 street level retail units. Newer roof, vinyl replacement windows, hot water gas boiler and updated wiring. New intercom/security system. Plumbing updated in 2009. Tenants pay own electric, which includes heat. Owner is finishing renovation of 5-6 units and in process of leasing them out. Bus stop in front of property.
 Westfield
21 unit
163,998
5.7
44,523
Property consists of four wood buildings and free standing garage. There are 20 1BR and 1 2BR unit. Most of the units have new paint and carpet within the last 2 years. All buildings have rehabbed common halls and updated circuit panels. Three of the buildings have separate heat paid by tenants. New driveway and parking lot in 2005.
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Bristol County
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
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 Fall River
27 unit
209,376
7.12
55,185
Property consists of three newly renovated buildings in separate locations (11, 10 and 6 units) containing 23 2BR, 3 1BR and 1 4BR unit. Locations include off-street parking and laundry facilities. All units have de-lead certtificates.
24 unit
192,360
8.32
66,666
All large 900 sq. ft. 2BR apartments in well maintained building. All but the garden units have decks. Tenants pay their own gas heat. Coin-op laundry and seasonal water views.
 Taunton
31 unit
342,996
7.6
84,096
18 2BR/1.5BA tri-level units, 1-2BR/1.5BA duplex unit and 9-2 BR and 3-BR units gut-rehabbed in the early 1990's. The multi-level units have open loft areas with two-story living areas. The building has a master condominium deed recorded as of 1991 and lends itself to a conversion when the market rebounds. Separate utilities paid by tenants which include electric forced hot air heat and central air-conditioning and electric hot water. There is off street parking and on-site laundry.
18 unit
178,935
7.16
70,833
Stucco and masonry apartment building with 14 1BR and 4 2BR units. Tenants pay all utilities. Plenty of onsite parking. The property is very clean and in a quiet part of town.
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Worcester County
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
Contact Broker
 Douglas
15 unit
136,800
5.3
48,333
Property consists of four buildings with 15 apartments plus a 7-car garage on .82 acres of land. Most units are deleaded. Needs some cosmetic improvements.
 Leominster
10 unit
79,500
6.6
52,500
Fully occupied property consists of one studio and 9 1BR apartments. Tenants pay for their own heat (electric). Off-street parking for 10+ cars. New alarm system. Close to Rte. 2 and the new train station.
 Milford
24 unit
New Listing
200,000
8.25
68,750
Apartment building with 18 studios and 6 1BR units. On-site parking. 1.34 acre lot.
 Oxford
12 unit
New Listing
107,000
8.36
74,583
Fully occupied apartment building with new windows, fire escape, fire alarm system, boiler, fuel tanks and insulation. Building was gut rehabbed in 1995.
 Spencer
10 unit mixed-use
84,991
7.64
Mixed-use property situated on .41 acre corner lot in downtown Spencer. The 11,886 sq. ft. building consists of 8 office/retail units and 2 apartments.
 Whitinsville
6 unit
64,800
6.17
66,666
All 1,000 sq. ft. 2BR units. Brand new roof. Utilities are separately metered and tenants pay for heat. Each unit has W/D hook-up and parking for 2 cars. Town water and sewer.
 Worcester
46 unit
508,000
7.67
84,782
1989 4-story brick and masonry building consists of 16 1BR, 13 2BR and 17 2BR/2BA units. On-site coin-op laundry and two cell towers. Two+ off-street parking places per unit.
25 unit
239,328
7.94
76,000
The property consists of a 23-unit garden style apartment building (12 1BR and 11 2BR units) and a 2-Family house. Ample off-street parking and on-site laundry. Potential to develop an additional 23 units.
16 unit
169,200
7.68
81,250
Brick apartment building located near Clark University. There are 2 1BR and 14 2BR units plus a 10-car garage and coin-op laundry for additional income. Building has been completely renovated over the past 8 years and has a new roof and new vinyl windows.
17 unit
166,800
8.09
79,411
Brick garden style buildings with 2 studios, 8 1BR and 7 2BR units. Additional income from laundry and storage. Oil heat paid for by owner.
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Plymouth County
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
Contact Broker
 Hull
Rooming House
185,000
4.3
Licensed Lodging House for Sale
22 Rooms, 4 Apartments. Furnished, fully up to code, fully sprinklered and fire alarmed. Very good condition with ocean and bay views. The owner has made many improvements including three new gas boilers, updated electrical, a new rubber roof, and new windows. Rooms come fully furnished and share a full bath on each floor. Each floor has a front balcony with ocean and bay views. A live-in manager takes care of all day-to-day items and is willing to stay for the new owner. Owner pays all utilities.
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Barnstable County
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
Contact Broker
               
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Hampshire County
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
Contact Broker
 Ware
No current listings
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Berkshire County
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
Contact Broker
 Great Barrington
66 unit
New Listing
712,000
7.3
The property consists of 8 detached single story apartment buildings containing about 45,000 sq. ft. of living area situated on 4.53 acres of land. The units are in excellent condition. There are 30 1BR and 36 2BR units. Gas heat is included in rent. Built in 1972, the buildings are wood frame with vinyl exterior.
 Lee
27 unit
mixed-use
New Listing
289,000
9.34
Fully occupied apartment complex with 5 1BR, 20 2BR and 2 commercial units. Multiple upgraded units. Separate utilities paid for by tenants. Situated on 1.9 acres.
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Franklin County
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
Contact Broker
 Northfield
12 unit
101,419
5.18
Apartment building situated on 6 acres of land. 12,000 sq. ft. of living area. Only one current vacancy.