Excellent opportunity for an investor or owner-occupant with this well-maintained three-family property in Warren. The property offers a strong combination of existing income and immediate rental upside, with two units recently renovated, cleaned, and intentionally left vacant, giving the new owner the flexibility to select their own tenants, establish current market rents, or occupy one of the units.The third unit is currently rented for $1,300 per month, slightly below the estimated market rent of approximately $1,450 per month. The two vacant units are also projected at approximately $1,450 per month each, creating the potential for approximately $4,350 per month / $52,200 annually in gross rental income if all three units were rented at the stated market rent.The available units feature bright, clean interiors, updated kitchens and baths, neutral finishes, and spacious living areas. The property has been prepared for its next owner, allowing for a relatively straightforward transition into leasing the vacant units.Whether you're looking to house hack by living in one unit while collecting rent from the others or add a three-family property with value-add rental potential to your portfolio, 723 Main Street offers multiple options from day one.Two renovated units are vacant and ready for occupancy or new tenants. One unit is currently income-producing at $1,300/month. A great opportunity to acquire a multi-family property with both existing cash flow and room to increase income.
Great investment opportunity!!! 3 family unit on Main street in Warren. Each unit has 3 bedrooms and 1 full bath. All units currenly rented. Off street parking for 6 cars. Inclosed stairways.Coin operated washer/dryer in basement. Brand new roof. Updated electrical. New hot water heaters. New bathroom in 3rd floor unit. Town water and sewer. Come and take a look, this 3 family could be your next investment property.
MLS PIN #71309630
Jun 1, 2012
Sold
$150,000
$45/sq ft
Jan 19, 2012
Contingent
—
Nov 9, 2011
Listed
$159,900
$48/sq ft
+11
Great 3 Unit Building completely updated this year. All new electric heat in each unit, Three new electric hot water heaters for each unit plus an owners tank for future coin operated washer & dryer, new separate 100 amp. electrical panels for each unit and separate owners panel. All 3 units come with kitchen range, 2nd and 3rd floor come with refrigerator. All new wall to wall carpeting. Balconies all 3 units. Ample off street parking. The best part is it comes with a Lead Paint certification
MLS PIN #71195334
May 26, 2011
Sold
$79,000
$24/sq ft
Mar 12, 2011
Contingent
—
Mar 4, 2011
Listed
$89,000
$27/sq ft
MLS PIN #70317350
Apr 19, 2006
Sold
$221,000
$66/sq ft
Mar 7, 2006
Listing Removed
—
Jan 18, 2006
Listed
$219,900
$66/sq ft
MLS PIN #70054259
Aug 2, 2004
Sold
$175,900
$53/sq ft
Jun 28, 2004
Listing Removed
—
Jun 23, 2004
Listed
$184,900
$55/sq ft
MLS PIN #30814659
Jun 4, 2004
Sold
$147,000
$44/sq ft
Feb 24, 2004
Listing Removed
—
Feb 18, 2004
Listed
$145,900
$44/sq ft
Public Records
Apr 16, 2004
Sold
$147,000
$44/sq ft
Public Records
Dec 13, 1989
Sold
$124,000
$37/sq ft
Year
Property tax
Land + Additions
Assessment*
2023
$2,904 (−1.7%)
$41,600 + $142,200
$183,800
2022
$2,955 (+3.5%)
$35,900 + $154,000
$189,900
2021
$2,854 (−0.9%)
$33,900 + $144,900
$178,800
2020
$2,879 (−0.1%)
$33,900 + $133,900
$167,800
2019
$2,882 (+8.4%)
$33,900 + $124,900
$158,800
2018
$2,659 (−3.0%)
$33,900 + $119,600
$153,500
2017
$2,741 (−2.2%)
$35,200 + $112,500
$147,700
2016
$2,803 (+5.8%)
$33,500 + $107,800
$141,300
2015
$2,649 (−8.7%)
$33,500 + $107,800
$141,300
2014
$2,903 (−1.2%)
$33,500 + $118,500
$152,000
2013
$2,939 (+0.5%)
$33,500 + $130,300
$163,800
2012
$2,923 (+5.9%)
$36,900 + $143,200
$180,100
2011
$2,759
$36,900 + $143,200
$180,100
2010
$2,759 (−8.3%)
$36,900 + $143,200
$180,100
2009
$3,010
$43,300 + $175,900
$219,200
Public record
Beds
6
Baths
3
Stories
3
Lot width
—
Lot depth
—
Lot size
7,841 Sq. Ft.
Year renovated
—
Finished Sq. Ft.
3,348
Unfinished Sq. Ft.
—
Total Sq. Ft.
3,348
Year built
1897
Style
Multi-Family (2-4 Unit)
County
Worcester County
APN
1727575
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 21, 2023.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 92° expected this year, 17 days in 30 years
6/10 Wind Factor
27% chance of strong winds in next 30 years
3/10 Air Factor
2 unhealthy days expected this year, 3 days in 30 years
Provided by First Street
Historical weather
Warren, MA • 01083
Average low and high temperatures (°F)
31
16
34
17
50
30
60
39
68
49
80
58
83
64
78
57
73
53
63
42
50
34
36
21
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 8.9 hours in
June and 4.3 hours in December, placing it below the
U.S. average for solar exposure.
8.9 hrs
4.3 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 723 Main
$449,399
$601 under list price of $450K
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $175K to $525K.