New Bedford Investment Properties

New Bedford is an active city with a large population of over 95.000. Located in Bristol County, it is Massachusetts' sixth-largest city, located on the New Bedford Harbor in the South Coast area. The community has a long and storied history and was first incorporated in 1787. Today, it offers a wide array of opportunities for property investors, from emerging neighborhoods to historic districts sporting classic homes. Whether you are interested in residential or commercial investment, the city has excellent opportunities for people seeking income properties.

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The area grew from the industries and shipping propelled from the harbor and was a major whaling port, an industry that dominated the city's economy for years. Later, however, the city became home to businesses and corporations of all kinds, providing a range of employment opportunities for people living here. In addition, there are also a number of excellent recreational opportunities. Not only is the city's classic harbor full of activity, there are four primary parks that offer playgrounds, sports fields, green spaces and hiking and biking trails. There is a Harbor Walk located above a hurricane barrier that provides exceptional views of the harbor.

The city is also heavily connected through a variety of transportation options. The port continues to function for both trade and recreation, docking cruise ships, fishing boats and other cargo. In addition, people can take the ferries from the harbor to Martha's Vineyard and Nantucket as well as nearby islands. For people who make use of general aviation and corporate flights, the New Bedford Regional Airport (EWB) is located directly in town. There is also a range of major highway connections in the area, including Interstate 195, Route 6, Route 140 and Route 18.

Multi-Family Homes

As a larger city, there is a range of different multi-family property types available for investors here. You can find duplexes and triplexes, including older brick row houses as well as stand-alone single buildings. In addition, more traditional small apartment buildings also offer exceptional investment possibilities here, especially as property values continue to rise. With easy commuter access, there are many people looking to make this community their home, providing a strong income stream to investors working with multi-family properties here. In addition, mortgage lenders and banks often look favorably on financing this type of real estate investment. With the demand for residential rental housing in the area, investors can rely on solid income streams even as the value of their property grows.

Single-Family Properties

In this city, single-family homes can also be a great investment option. There are a number of classic row homes and other choices that offer historic appeal, modern walkability and a photo-friendly sensibility that attracts tenants. These smaller homes can be great rental home options for professionals and families that want to enjoy a larger private space than an apartment but aren't yet looking to purchase a home of their own.

Condominium Investments

Much of the newer construction in the city has come in the form of condominium complexes. Buying a condo can also be a strong choice for a real estate investor. Overall, the value of these condos has been on a significant, ongoing upturn and is expected to remain headed in this direction, growing the value of the property. Because condos are maintained through the payment of monthly fees, a property owner can rest assured that many key maintenance tasks are handled without excess costs.

Exploring Commercial Real Estate

There is also a wide range of commercial investment opportunities here for those who want to move beyond the residential choices. From dining and shopping spaces in the city center to larger industrial or warehouse options on the edges of town, commercial real estate can be a profitable venture. Leases are often longer-term and the businesses leasing the properties often assume significant responsibility for upkeep, cutting down on expenses.

There is a wide variety of housing stock in the city, including many excellent bargains that can provide strong investment value. The average valuation for a home here is $227,900, a number that is expected to rise by 10 percent or more in the near future. Home prices here have risen significantly and considerably since the recovery of the market in 2012. In addition, rental options in the community can also be expected to provide consistent and valuable income. The average rental cost per month for an apartment in the town is $1,549, sitting right below the average Providence metro apartment. The affordable, excellent properties available here mean that investing in a multi-family home or another rental opportunity can see a strong upside in the future. If you are interested in further exploring property investments in New Bedford, reach out to us at Boston City Properties. We will provide insight and information on the properties available and how you can benefit from investing here.

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