CENTURY21
Northumberland Realty (1987) Ltd.
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This is a double commercial lot, of 1.5 acres in central Montague with two full apartment buildings ? offering strong income and unlimited opportunity to further develop this strategic parcel! Already zoned Multi-Use, with two street accesses/ egresses, the present lot coverage is only 9.4%.These two prime Apartment buildings contain 23 units plus 3,500 square feet of open commercial or further residential space, on 1.5 contiguous acres, in the heart of Montague. To the right buyer, this land and building parcel offer an incredible investment opportunity. Envision the present cash flow (8.55% annual against purchase price) from fully-occupied units with outstanding expansion possibilities on this large, under-utilized central mixed-use site. At list price, each existing apartment is less than $137K ? and the surplus building/ lot areas are included.Two separate street accesses and full municipal services are already in place. Best Montague proximity to grocery stores, pharmacies, fast food, schools and waterfront. This combination of 516 Main Street and 514 Main Street presents a stellar double-access corner property prospect for investors, developers, or entrepreneurs looking to tap into the thriving, and growing, Montague real estate market. (id:54265)
| MLS® Number | 202320635 |
| Property Type | Multi-family |
| Neigbourhood | Montague |
| Community Name | Montague |
| Amenities Near By | Park, Playground, Marina |
| Equipment Type | None |
| Rental Equipment Type | None |
| Appliances | Stove, Dryer, Washer, Refrigerator |
| Basement Type | Full |
| Constructed Date | 1942 |
| Exterior Finish | Wood Shingles, Vinyl |
| Flooring Type | Carpeted, Tile, Vinyl, Other |
| Foundation Type | Poured Concrete |
| Heating Fuel | Oil |
| Heating Type | Radiator |
| Type | Apartment |
| Utility Water | Community Water System |
| Parking Space(s) |
| Acreage | Yes |
| Land Amenities | Park, Playground, Marina |
| Sewer | Unknown |
| Size Total Text | 1 - 3 Acres |
| Zoning Type | Multi-family |
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Consulting Hours:
Monday – Friday 8am – 5pm
Evenings & Weekends – by appt
