Mike Mullins - Stone Ridge Properties

97-99 State St, Newburyport, MA 01950

Multi-Family

$850,000
Price

4
Units
5,420
Approx. GLA
Classic “Shingle Style” Victorian Four Family c.1889, located in the heart of Newburyport is just steps away from the brick Mercantile buildings, restaurants, shops, waterfront park, Rail-Trail, boardwalk and harbor of the Downtown area. This stately and well-preserved multi-family has retained many of its period features including bulls-eye moldings, pocket doors, hardwood floors, hand-carved mantels, enamel brick hearths and more. Currently being utilized as a four family dwelling with a large, 3 bedroom, 2 bath owner’s townhome and 3 one bedroom apartment units. Third floor is unheated and would require complete renovation, but offers potential to significantly expand living space. Heat and electric are separately metered. Two one bedroom apartments are currently occupied, as TAW. Rents are below market. NOI is based upon projected market rents. First showings at Investor Open House on June 2nd, 10-Noon. All offers will be due by 11:00 AM on June 5th and will be opened at noon.
Open House
No scheduled Open Houses
Highlights
Terms: Estate Sale
Basement Features: Full, Interior Access, Bulkhead, Concrete Floor
List Price: $850,000
Type: Multi-Family
Multi-Family Type: 4 Family
Status: Contingent
Beds: 6
Baths: 5
Units: 4
Year Built: 1889
Year Round: Yes
Approx. GLA: 5,420
MLS#: 72334521
 
 
Interior
Basement: Yes
Electric Features: 100 Amps, Individually Metered
Heating Units: 4
Heating Zones: 4
Fireplaces: 4
Hot Water: Natural Gas
Rooms: 15
Lead Paint: Unknown
Total Floors: 3
Exterior
Water: No
Facing: West
Acres: 0.11
Lot Size: 5,000.00
Lot Description: Corner, Easements, Other (See Remarks), Level, Scenic View(s)
Foundation: Fieldstone, Brick, Granite
Foundation Size: 38 x 58
Parking Spaces: 4
Parking Features: Off-Street, Paved Driveway
Road Type: Public, Paved, Publicly Maint., Sidewalk
Color: Grey
Construction: Frame
Roof Material: Asphalt/Fiberglass Shingles
Exterior: Clapboard, Shingles, Vinyl
Exterior Features: City View(s), Porch
Water: City/Town Water
Water: City/Town Water
Taxes
Short Sale Lender Approval: No
Lender Owned: No
APOD Available: No
Assessed Price: $739,800
Taxes: $9,810
Tax Year: 2018
Book/Page: 6679/040
Warranty Available: No
School
Grade School: Bresnahan
Middle School: Nock Middle
High School: Newburyport HS
Beach
Beach: Yes
Miles to Beach: 1 to 2 Mile
Beach Description: Harbor, Ocean, River
Beach Ownership: Public
Expenses
Expenses Source: Estimated, Other (See Remarks)
Gross Income: $76,800
Gross Expenses: $16,058
Net Income: $60,742
 
 
Additional
Amenities: Public Transportation, Shopping, Walk/Jog Trails, Medical Facility, Other (See Remarks), Bike Path
Disclosure Declaration: No
Disclosure: PROPERTY IS BEING SOLD "AS-IS". No warranties are implied nor expressed. Buyer is responsible for all due diligence regarding suitability of intended use and any change to or any expansion of non-conforming, pre-existing uses. Easement prohibits abutter from erecting fence on side of 99 State St.
Units
Total Rooms Bedrooms Fireplaces Floors Full Baths Half Baths Lease Levels Rent
Unit 1 8 3 3 1 2 0 No 2
Unit 2 3 1 1 1 1 0 No 1
Unit 3 3 1 0 2 1 0 No 1 $900
Unit 4 3 1 0 2 1 0 No 1 $800
Units Extras
Unit 1
Rent Includes:  Water, Other (See Remarks)  Cooling:  Window AC  Applicances:  Range, Refrigerator, Washer, Dryer  Heating:  Forced Air, Oil  Interior:  Bathroom with Shower Stall, Bathroom With Tub & Shower, Country Kitchen, Hardwood Floors  Rooms:  Living Room, Dining Room, Kitchen, Family Room, Other (See Remarks), Office/Den 
Unit 2
Rent Includes:  Water  Cooling:  Window AC  Applicances:  Range, Refrigerator  Heating:  Forced Air, Gas, Individual, Unit Control  Interior:  Hardwood Floors, Fireplace - Wood burning  Rooms:  Living Room, Kitchen, Other (See Remarks) 
Unit 3
Rent Includes:  Water  Cooling:  Window AC  Applicances:  Range, Refrigerator  Heating:  Forced Air, Oil, Individual, Unit Control  Interior:  Hardwood Floors  Rooms:  Living Room, Kitchen, Other (See Remarks), Living RM/Dining RM Combo 
Unit 4
Rent Includes:  Water  Cooling:  Window AC  Applicances:  Range, Refrigerator  Heating:  Forced Air, Gas  Interior:  Hardwood Floors  Rooms:  Living Room, Kitchen, Other (See Remarks) 
Map
Similar Properties
The listing office is Stone Ridge Properties, Inc. and the listing agent is Kevin Lawless. The property listing data and information, or the images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and it's subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the images, set forth herein. The data was last modified on 6/19/2018 9:05:00 PM.
 
Mike Mullins
Mike Mullins
Stone Ridge Properties
Newburyport Daily News Best Bets Mike Mullins
Newburyport Daily News Best Bets Mike Mullins
Newburyport Daily News Best Bets Mike Mullins
Newburyport Daily News Best Bets Mike Mullins