67-71 John A Dunn Memorial Dr, Rockland, Massachusetts, United States

Report Listing

Home For Sale

$2,950,000

67-71 John A Dunn Memorial Dr
Rockland, Massachusetts, United States

24bd 12ba

Listed By: Realtyww Info

Listed On: 08/30/2024

Listing ID: GL11367291 View More Details

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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Listed by: Nicholaus Jasinski