67-71 John A Dunn Memorial Drive, Rockland, MA 02370
- $2,950,000
- 24
- BD
- 12
- BA
- 10,892
- SqFt
- Sold Price
- $2,950,000
- List Price
- $2,950,000
- Status
- SOLD
- MLS#
- 73282717
- Bedrooms
- 24
- Bathrooms
- 12
- Full Baths
- 12
- Living Area
- 10,892
- Lot Size (Acres)
- 0.56
- Year Built
- 1970
Property Description
The 67-71 John A Dunn Memorial Drive apartment complex is a 12-unit property comprised of (2) six-unit properties which are side-by-side. The property offers a very attractive unit mix, consisting of 100% two-bed, one-bath units. Also onsite is common laundry and ample surface-level parking, and all separate utilities except water and sewer. There is a value-add opportunity at the property to mark all rents to market level, as they are currently $400 below market. All 12 units have been recently renovated, including new stainless appliances, quartz countertops, backsplash tiles, vinyl flooring, white cabinets, and bathroom fixtures. An energy audit was performed in 2023 as well to identify any ways to optimize operating expenses. In-place cap rate is over 6%, pro forma cap rate is over 8%.
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Additional Information
- Taxes
- $27,743
- Parking Description
- Paved Drive, Off Street
- Lot Description
- Easements
- Water
- Public
- Sewer
- Public Sewer
Mortgage Calculator
Listing courtesy of Listing Agent: Nicholaus Jasinski from Listing Office: Berkadia Real Estate Advisors LLC.
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