199 S Main St, Attleboro, MA 02703

Description

Rare 6 unit opportunity just minutes from downtown Attleboro, offering strong in place income and significant upside for the next owner. This sizable building features a versatile unit mix of one 2 to 3 bedroom, two 2 bedrooms, one 1 bedroom, and two studios, giving investors a broad tenant base and multiple paths to grow rents over time.Current scheduled rent is approximately $6,875/month ($82,500/year). All tenants are long term and month to month (tenants at will), which is why rents sit well below market today. That flexibility lets a new owner reposition rents toward market as units turn, with projected gross income of approximately $124,800/year at market rents.The property needs some TLC, which is exactly where the opportunity lies. Interiors were previously updated but have been rented for some time and are ready for refreshing. Heat is provided by three gas furnaces (one brand new), two units with electric baseboard, and one electric furnace. A 9 car off street parking lot is a major plus for tenants, and the large unfinished basement offers excellent storage and future potential. Whether you are growing a portfolio or adding a value add project close to major routes, shopping, dining, and the MBTA commuter rail, this one checks a lot of boxes. FIRST SHOWINGS: Sunday, November 1, 12:00 to 1:30 PM.