Melrose Multi-Family Homes

Melrose, which is a city located in the Boston Metropolitan Area, is a great place to live that serves as a nice in-between for those that want a little bit of urban style with their suburban living. When it comes to properties, the city is particularly friendly to multi-family homes; there are several duplex-style homes, more than a few condos and townhomes, and apartments are particularly popular within the city limits. As a result, the investment opportunities there are excellent for anyone looking to purchase a property that houses a community of people.

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With only an 11-mile distance between this town and Boston itself, this is also a convenient location to attract young professionals that are looking for a good place to build their family life. As a result, there are plenty of opportunities for property owners to fill their rental properties with families.

Purchasing a Multi-Family Home

These types of properties have a lot of value. First, when purchasing a home that's a duplex, condo, or apartment, the investor is providing a place that can easily become a close-knit community. Rental properties typically become homes for generations of people, and as ownership persists, the location will increase in marketability.

Secondly, these investment opportunities have a tendency to be very safe for the investor. A home that houses multiple families has a reduced chance to go into foreclosure because of the fact that there are multiple individuals inside the unit paying rent. As a result, partial payment is usually provided, which means for a more stable property situation.

Additionally, Boston is a city that's been increasingly growing; with some of the world's largest companies set to move into the city, investment in the housing market is a fairly safe bet. Melrose is one of the Boston suburbs that has a fairly high-cost housing market; the current median for purchasing property is about $606,000, and the median rent for property in the area is around $2,700 per month, which is also fairly higher than surrounding areas. This higher housing market value is still set to increase due to Boston's growth, which is why an investment in the market can provide good investment return.

If you're interested in purchasing one of these properties in the area, contact Boston City Properties; we have years of experience helping clients just like you.

Selling a Multi-Family Home

This Massachusetts town has several opportunities for duplexes, condos, and apartments, and if an owner happens to own one of these, now is a fairly strong time to sell. Reasons for selling a property in this town can be varied, but in any situation, the town's proximity to Boston means that it may be fairly competitive when it comes to potential buyers.

Still, selling properties in the area is a competitive process, which means that a seller should have the property in its optimal condition before approaching potential buyers. There are several advantages to owning a property that can accommodate a community, so accentuating these benefits will help close the deal more smoothly. Most potential purchasers will want to tour the property, so it is a good idea to have all areas, including tenant's units, in good condition, which means that communication with residents is essential.

Selling in this area can be rewarding, but sometimes having a professional agency help with the process can make a rewarding experience even better. Contact us at Boston City Properties so that we can help you get the ball rolling on your property sale.

Neighborhoods in the Area

Melrose, having a larger population and a metropolitan status of its own, has several beautiful neighborhoods that include:

• Cedar Park – Outfitted with an MBTA station, Cedar Park is known for its convenience. Housing units around this neighborhood tend to have high rental values due to this proximity.
• Downtown – Known for 19th-century Victorian buildings, the downtown area of town has a rich history and has homes that date back to the 18th century.
• East Side – Containing two golf courses, the east side of town is positioned east of Saugus, MA, and is on the easternmost side of the city. It's also near to the Orange Line.
• Franklin Square – Home to many town staples like the city's ballroom and its Franklin Square Antiques, this neighborhood also has apartment accommodations that are relatively inexpensive.
• Horace Mann – This area is home to Horace Mann Elementary School, which means that this area is very convenient for parents with children. There are also apartments in this area.
• Highlands – This is one of the oldest neighborhoods in town. It has its own Boston-accessible train station, and as a result, this area is considered optimal and has a slightly larger rent value than other parts of Massachusetts.

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