2 S Grove St
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2 S Grove St
40 Unit Apartment Building $13,000,000 ($325,000/Unit) 6.77% Cap Rate Haverhill, MA 01835
Investment Highlights
- Updated building with garage parking, open floor plans and stainless steel appliances.
- Desirable location with close proximity to downtown.
- Each unit is equipped with mini split heat pumps that serve for heating and cooling.
Executive Summary
2 South Grove features 40 units, each designed with modern living in mind, and is situated just a short walk from the heart of downtown Haverhill, home to a variety of popular restaurants, shops, and local amenities.
2 South Grove consists of 14 one bedroom, 16 two bedroom and 10 two bedroom town house unit. Each unit has access to the garage in accordance to the amount of bedrooms. All units are equipped with stainless steel appliances, laundry, mini splits for heating and cooling and separately metered units with tenants being responsible for rent, electric and hot water.
2 South Grove consists of 14 one bedroom, 16 two bedroom and 10 two bedroom town house unit. Each unit has access to the garage in accordance to the amount of bedrooms. All units are equipped with stainless steel appliances, laundry, mini splits for heating and cooling and separately metered units with tenants being responsible for rent, electric and hot water.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $13,000,000 | Apartment Style | Low Rise |
| Price Per Unit | $325,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.49 AC |
| Cap Rate | 6.77% | Building Size | 41,436 SF |
| No. Units | 40 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1908/2020 |
| Property Subtype | Apartment | Parking Ratio | 2.24/1,000 SF |
| Price | $13,000,000 |
| Price Per Unit | $325,000 |
| Sale Type | Investment |
| Cap Rate | 6.77% |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 1.49 AC |
| Building Size | 41,436 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1908/2020 |
| Parking Ratio | 2.24/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Washer/Dryer
- Heating
- Stainless Steel Appliances
- Carpet
Site Amenities
- Clubhouse
- Picnic Area
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | - | - |
| 2+1 | 14 | - | - |
| 2+1.5 | 10 | - | - |
| 2+2 | 2 | - | - |
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PROPERTY TAXES
| Parcel Number | HAVE-000702-000636-000001 | Total Assessment | $4,993,000 (2024) |
| Land Assessment | $2,400,000 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,593,000 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
HAVE-000702-000636-000001
Land Assessment
$2,400,000 (2024)
Improvements Assessment
$2,593,000 (2024)
Total Assessment
$4,993,000 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
zoning
| Zoning Code | WD-F (Waterfront District Zone F. See documentation.) |
| WD-F (Waterfront District Zone F. See documentation.) |
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Reyes Home Team
2 S Grove St
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