20 Units Apartment Complex

Highlights:

• Prime Location with Excellent Commuter Access
• Significant Value-Add Opportunity: 50%+ Below Market Rents
• Recent Capital Improvements: New Kitchens, Replacement Windows & Roof
• Flexible Tenant Structure: Mostly Month-to-Month Leases
• Attractive Unit Mix: Spacious Two- and Three-Bedroom Layouts
• Individually Metered Utilities: Separate Electric & Gas (Heat) for Each Unit
• Strong Occupancy History: Proven, Stable Rental Income & Demand Year Round

Description:

This impressive property portfolio consists of three adjacent lots with four freestanding buildings, totaling 20 residential units. The well-maintained buildings at #3, #3A, and #4 each contain six units—all featuring two bedrooms, one bathroom, and separately metered utilities for both electricity and heat.
#5 Shady Lane offers a standalone duplex, with both units boasting spacious two-bedroom layouts and an additional finished room with a closet in the basement. Recent capital improvements include replaced windows, new kitchens, and a brand new roof on Building #5.
This portfolio delivers immediate cash flow, along with significant value-add potential—current rents are more than 50% below market, and the majority of tenants are month-to-month, providing flexibility for future repositioning. With its strong rental history, solid maintenance, and prime location, this is an outstanding opportunity for investors seeking a turnkey multifamily asset with substantial upside. Coin-operated laundry rooms for tenant's convenience.

Explore the charm of the Plaistow neighborhood surrounding this multifamily property. Nestled in a peaceful, residential area, residents will enjoy easy access to local parks, playgrounds, and walking trails, offering a perfect balance of tranquility and recreation. Nearby conveniences include shopping centers, dining options, and community services, providing all the essentials within reach. With its close-knit community and family-friendly atmosphere, this location is an attractive prospect for low-rise/garden multifamily investors seeking to offer residents a comfortable and connected lifestyle in a serene setting.

Electricity & Heating: Each apartment features individual meters for both electricity and natural gas, equipped with efficient gas-fired boilers and programmable thermostats. Tenants are responsible for their own electricity and heating costs.

Hot Water: Hot water expenses are covered by the property owner, with energy-efficient rental water heaters installed and linked to the common electric meter.

Water & Sewage: Currently, the property is serviced by a private well and septic systems (one per building). Approval for connecting to municipal water service in place and connection is in progress. Water is readily accessible at the street.

Separately metered

Separately metered, heating

Documents: