Description
This licensed 11-room rooming house, located in a quiet suburban setting in Rockland, Massachusetts, offers a rare investment opportunity with stable income and growth potential. Current weekly rent is $2,240 and boasts a low vacancy rate, with rooms typically filled within days. The new owner can either keep the existing system in place or rehab the property to increase the room count and rents. The property features a large level lot with ample parking, 11 bedrooms, a large eat-in kitchen, 2.5 bathrooms, and fire sprinklers. The boiler and water heater were replaced in 2018. The large garage can also be fixed up and rented as storage or converted to additional living space. A reliable on-site manager is willing to stay on to help the new owner transition. All tenants are current on rent payments and none are on subsidies.This rooming house is conveniently located close to a multitude of shops and restaurants on Union Street in Downtown Rockland.
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Listing Agent: Kevin Cleary
Listing Office: RE/MAX Select Realty
Attribution contact: 617-304-1277
