Melrose Investment Properties

Located in the greater Boston metropolitan area, Melrose is a bustling community that has fast become one of the hottest places to live and work in the area. With a population of 26,983, the community combines the small-town feel of local amenities, activities and concerts with easy access to the big city, making it a great choice for commuters, students, young families and others who want to enjoy a warm, bustling, convenient area.

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The city was incorporated in its present form in 1900, but settlement in the area by Europeans dates back to 1628. This means that the town is full of both historic homes and newer construction, offering a wide range of rental and purchase opportunities suitable to individuals, couples and families. The area developed three railway stations which brought workers to the area. Today, these stations continue to support commuters traveling to the city, with Wyoming Hill, Melrose/Cedar Park and Melrose Highlands commuter rail stations now easily accessible to residents and workers in the community.

The 4.8-square mile community is home to public and private schools, an innovative hospital, senior centers and other major public services. Sitting seven miles north of Boston itself, the community offers direct access to Route 99. The community is also close to major routes like Route 1, Interstate 93, Route 16 and Interstate 95. Even more conveniently, MBTA access provides commuter rail convenience while five bus routes also provide service. In addition, the subway can be easily accessed on the Orange Line in neighboring Malden.

Multi-Family Properties

Multi-family rental buildings in this city can be great investment properties. You can find duplexes, triplexes, quad-plexes and other apartment combinations that provide excellent homes for young families, professionals and other residents. Some of these multi-family properties reflect the historic colonial style of many houses in the community, while other newer-construction buildings provide apartment residences as well. Some older homes were subdivided into apartments while others were constructed specifically as multi-family dwellings. The popularity of this city as a destination for families, professionals and commuters and its easy access to transit mean that there is a high demand for residential apartments. This also makes multi-family homes in this community excellent investments for people looking for long-term income and growth opportunities.

Purchases of multi-family homes here can often be viewed favorably by mortgage lenders and banks. The solid, exciting and highly in-demand rental properties in the community provide a good basis for financing. In addition, you may be able to explore the possibilities offered by government-backed financing for residential rental properties here.

Single-Family Investment Homes

Single-family homes are often associated with an individual or couple's own investment. However, they can also be great choices for an income property, especially in a community like this one, where rental real estate is in demand. Some properties offer particularly close walking access to commuter rail stations or to the warm, comfortable downtown full of shops and restaurants. Many of these homes are spacious options well-suited to families looking to rent a long-term home. In addition, these properties can be great choices for professionals who work at home and want specialized office space in their community. Both historic options and newer construction are available and provide exceptional opportunities for investors.

Choosing Condos

Condominiums, townhouses and related properties are also an excellent choice in this popular city. Condos will generally include monthly fees that cover the maintenance of the external and common areas of the property, making it easier for an investor to budget for upkeep and maintenance. In addition, many condos offer access to gyms, common rooms and other amenities that can make your property an appealing choice for many professional tenants looking for modern options.

Commercial Real Estate Options

With the growth and popularity of the community, commercial real estate can also be a great investment opportunity. The downtown area is a hot spot for retail, shopping and dining and the desirable area means that many business tenants are looking for just the right space to call home. Traditional office properties also make great spaces for many tenants who want to do business in an area with excellent transport links.

Average prices in the area are on the rise; the average value of a home in the city is $611,600. Over the last year, values have risen by over 8 percent and they are predicted to continue in a long-term upswing. The healthy market also includes a strong upswing in monthly rent prices in the community, with an average of $2,669 monthly, over $200 above the average in the Boston metropolitan area. If you'd like to explore the possibilities in this bustling community, contact Boston City Properties. We'll help you to learn more about the possibilities for investment and what kind of properties can help you achieve your goals.

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