***INVESTMENT OPPORTUNITY*** Well-maintained fully rented three-unit multifamily with parking, offers substantial income and low maintenance! Located in Dorchester’s bustling Fields Corner neighborhood, only .5 mile to the Fields Corner red line train stop. Gross annual rental income is $68,400. Great value-add investment, with the opportunity to increase to current market rents and grow cash flow. Property consists of a 3 bedroom/1.5 bath unit with private deck, and two spacious 2 bedroom/1 bath units. Units 1 and 2, plus common areas and exterior have been de-leaded. Common coin-operated laundry in basement. Roof and decks were replaced in 2014, 3 newer hot water tanks, 3 gas forced air furnaces. Close to nearby shops & restaurants, highway I-93, UMASS Boston, and just a few T stops to downtown Boston.
Multi-familyProperty Type
1890Year Built
2,578 sq ftLot Size
$412Est. Price/Sq.Ft.
3 spacesParking
Listed by Steven Cohen Team• Keller Williams Realty Boston-Metro | Back Bay
Bought with Rebecca Huang• East West Real Estate, LLC
Perfect opportunity for either an owner occupant who wants to live in a 5 room, 3 bedroom, 1.5 bath first floor unit with a driveway while collecting $3450 in rent from two units above or an investor looking for a great building with good cash flow and very low maintenance to add to their portfolio. This building generates $5250 a month in rent and has not proven to be a costly asset regarding maintenance in 2 years current property manager has overseen it. Good income and low expenses, perfect recipe for any investor. If owner occupant buyer is interested then Unit 1 can be delivered vacant for the sale. For an investor buyer there is plenty of room for growth on current rent roll with existing tenants as can add up to $450 per month through standard rent increases.
MLS PIN #72009641
Sep 23, 2016
Sold
$530,000
$206/sq ft
Jun 28, 2016
Pending
—
May 20, 2016
Listed
$599,900
$233/sq ft
THIS EXTREMELY WELL CONDITIONED 3 DECKER IS IN A GREAT LOCATION WITH AMAZING POTENTIAL. WHILE CURRENT RENTS ARE WELL BELOW WHAT THEY SHOULD BE WITH UNITS 2 & 3 RENTED FOR A COMBINED $1,200 A MONTH LOWER THEN THEY SHOULD BE. HOWEVER, WITH ALL 3 UNITS TAW A NEW OWNER CAN EASLIY USE THE FOUNDATION CONDITION WISE ALREADY IN PLACE TO CONVERT THIS PROPERTY INTO A CASH COW THAT GENERATES OVER $4,500 A MONTH!! ALL THREE UNITS HAVE DE LEAD CERTS AND THEIR IS OFF STREET PARKING ON SITE. ALL TENANTS PAY THEIR OWN UTILITIES (ONLY EXCEPTION IS UNIT 1 HAS ELECTRICITY INCLUDED WITH THEIR RENT) AND ALL UNITS HAVE NEW FRONT DECKS (LESS THEN 2 YRS OLD), GAS POWERED FORCED HOT AIR HEAT, GAS FIRED HOT WATER HEATERS AND GAS FUELED STOVES CURRENTLY.
Public Records
Feb 28, 2001
Sold
$182,000
$71/sq ft
Year
Property tax
Land + Additions
Assessment*
2023
$8,279 (+8.6%)
$187,700 + $583,200
$770,900
2022
$7,625 (+7.1%)
$170,600 + $530,200
$700,800
2021
$7,122 (+3.2%)
$162,500 + $505,000
$667,500
2020
$6,904 (+25.6%)
$178,200 + $475,600
$653,800
2019
$5,496 (+12.7%)
$118,800 + $402,600
$521,400
2018
$4,877 (+13.2%)
$118,800 + $346,600
$465,400
2017
$4,310 (+8.8%)
$118,800 + $288,200
$407,000
2016
$3,962 (+19.8%)
$118,800 + $241,400
$360,200
2015
$3,306 (+7.8%)
$98,400 + $174,600
$273,000
2014
$3,066 (+3.4%)
$98,400 + $145,300
$243,700
2013
$2,964 (+2.8%)
$98,400 + $127,200
$225,600
2012
$2,882 (+1.9%)
$81,200 + $139,800
$221,000
2011
$2,827
$81,200 + $139,800
$221,000
2009
$2,827 (−11.3%)
$81,200 + $139,800
$221,000
2006
$3,188
$100,800 + $199,100
$299,900
Tax history for 1 Louis D Brown Way
Year
Property tax
Land + Additions
Assessment*
2023
$8,279 (+8.6%)
$187,700 + $583,200
$770,900
2022
$7,625 (+7.1%)
$170,600 + $530,200
$700,800
2021
$7,122 (+3.2%)
$162,500 + $505,000
$667,500
2020
$6,904 (+25.6%)
$178,200 + $475,600
$653,800
2019
$5,496 (+12.7%)
$118,800 + $402,600
$521,400
2018
$4,877 (+13.2%)
$118,800 + $346,600
$465,400
2017
$4,310 (+8.8%)
$118,800 + $288,200
$407,000
2016
$3,962 (+19.8%)
$118,800 + $241,400
$360,200
2015
$3,306 (+7.8%)
$98,400 + $174,600
$273,000
2014
$3,066 (+3.4%)
$98,400 + $145,300
$243,700
2013
$2,964 (+2.8%)
$98,400 + $127,200
$225,600
2012
$2,882 (+1.9%)
$81,200 + $139,800
$221,000
2011
$2,827
$81,200 + $139,800
$221,000
2009
$2,827 (−11.3%)
$81,200 + $139,800
$221,000
2006
$3,188
$100,800 + $199,100
$299,900
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
The Two-Family Residential Subdistricts are established to preserve, maintain, and promote two-family neighborhoods, to preserve existing structures, to provide for new infill construction appropriate to the existing fabric, and to allow minor changes to occur as of right. In a 2F Subdistrict, the maximum number of Dwelling Units allowed in a single building shall be 2.
Permitted uses
Include but are not limited to:
Religious facility
Day care facility
Housing-Group
Housing-Single unit
Park & open space
Sep 29, 2019 • Final
Gas
Work on gas lines or equipment.
Gas
Mar 28, 2017 • Final
Short form bldg
Work on a roof.
Roofing
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Property details
Parking
Parking Information
Has Open Parking
Parking Spaces: 3
Parking Features: Paved Drive, Off Street
Interior
Bathroom Information
# of Bathrooms (Full): 3
# of Bathrooms (Half): 1
Interior Features
# of Rooms (Total): 13
Interior Features: Mudroom
Unit #1 Information
# of Levels: 1
# of Floors: 1
Lease: Y
Unit #2 Information
# of Levels: 1
# of Floors: 2
Lease: N
Unit #3 Information
# of Levels: 1
# of Floors: 3
Lease: N
Exterior
Building Information
Building Area (Total): 2,579
Construction Materials: Frame
Stories (Total): 3
Year Built Source: Public Records
Year Built Details: Actual
Lead Paint: Certified Treated
Exterior Features
Patio And Porch Features: Deck
Property Information
PropertySubType: 3 Family
Lot Information
Lot Size (Acres): 0.06
Lot Features: Level
Financial
Tax Information
Tax Annual Amount: $8,279
Tax Year: 2023
Utilities
Utility Information
Sewer: Public Sewer
Water Source: Public
Location
Location Information
Directions: GPS
UnparsedAddress: 1 Louis D Brown Way, Boston MA 02124
Community Information
Senior CommunityYN: No
Community Features: Public Transportation, Shopping, Park, Medical Facility, Highway Access, House of Worship, T-Station
Public facts
Beds: 7
Baths: 4.0
Sq. Ft.: 2,579
Stories: 3.0
Lot Size: 2,614 square feet
Style: Multi-Family (2-4 Unit)
Year Built: 1890
Year Renovated: 2016
County: Suffolk County
APN: 1302026
Home facts updated by county records on Jul 20, 2023
Other
Listing Information
StandardStatus: Closed
Around this home
Schools
Holmes Elementary School
Public PreK-6 • Assigned • 0.4mi
5/10
Up Academy Charter School Of Dorchester
Charter PreK-8 • Assigned • 0.1mi
5/10
Community Academy Of Science And Health
Public 9-12 • Assigned • 0.4mi
2/10
Carter School
Public 8-12 • Assigned • 0.6mi
Albert D Holland School of Technology
Public 7-12 • Assigned • 0.8mi
2/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
6/10 Heat Factor
7 days above 96° expected this year, 15 days in 30 years
6/10 Wind Factor
64% chance of strong winds in next 30 years
3/10 Air Factor
3 unhealthy days expected this year, 3 days in 30 years
Provided by First Street
Historical weather
Dorchester, MA • 02124
Average low and high temperatures (°F)
34
22
36
24
50
34
58
42
68
53
79
63
84
68
78
63
73
59
64
49
53
39
40
27
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
79/ 100
Good sunlight
Sunscore
This home receives average direct sun exposure in the zip code. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
8.9 hrs
3.4 hrs
JuneDecember
Provided by Shadowmap
Estimated sale price
$1.01M – $1.22M
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