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North Andover Investment Properties

This town of 28,352 people in Essex County offers beautiful natural surroundings as well as an array of property opportunities that could present great choices for an investor. The community was incorporated in 1855, years after farming had begun in the area rich with natural water and green spaces. Today, some of the early 18th-century homes and buildings are still visible in the community, providing historic depth and beauty to the town. There is also a range of properties constructed over the long life of the community, many of which offer strong upsides for investors looking for great values.

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The town is based around Lake Cochichewick and the Shawsheen River and sits right to the south of the Merrimack River. With all of these natural bodies of water, there are numerous opportunities for people who enjoy outdoor activities to find recreational opportunities. The numerous parks, wildlife reserves and lakes and rivers make the community also an excellent choice for growing families who want to provide healthy outdoor living to their children. Harold Parker State Forest and Boxford State Forest are both included in the town alongside smaller parks, sports areas and playgrounds, with plenty of options for serious hikers and campers as well as kids looking for a day of fun. Weir Hill Park even offers cross-country skiing in the winter months.

The community not only offers great outdoor options, it also is well-networked to the rest of the state, an appealing proposition for professionals as well as for potential commercial tenants. Interstate 495 crosses through the town, while it sits along Route 114, Route 125 and Route 133. While the town itself does not have a commuter rail station, it is close and convenient to the Lawrence stop on the Haverhill/Reading line, and buses provide access to the rail station. The town is home to a small airport, the Lawrence Municipal Airport, which offers access to general aviation small craft.

Multi-Family Homes

This active town is home to a number of multi-family properties that could be great investments for people looking to expand their involvement in residential rentals. Duplexes, triplexes and small buildings can appeal to individuals, couples and families looking to find a home that is well-connected to the local area and enjoys easy transit to the city. You can find multi-family homes that were originally one building that was later subdivided as well as custom-built options designed to be shared by several tenants. There is significant demand for rentals in the area, and investors can find strong monthly income from this community even as their property grows in value over time.

Single-Family Properties

Single-family homes here are located throughout the community. You can invest in waterfront property; with its inherent value, there are likely to be significant offers for the property in the future. In addition, single-family homes can also make a great choice for investors looking for a renovation project. The homes can be rented out to families and professionals with needs for a home office even as their value grows over time for enhanced resale values.

Condominium Investments

Townhouses and condominiums can also make great property choices in this community. As property values grow, the value of these investments grows as well. In addition, it can often be easier for newer property owners to adjust by renting a condominium or townhouse. Monthly fees cover many of the necessary exterior maintenance issues, so it can be easier to manage expenses for upkeep. In addition, the amenities offered by many complexes make these properties particularly appealing to busy professional tenants.

Exploring Commercial Real Estate

Moving beyond residential options into office and retail properties can be another excellent choice. With an active downtown area and many highway connections, the town is an interesting area for many businesses at local, regional and national levels. Investing in commercial properties can enhance a portfolio and provide a strong level of stability, even as the underlying value of the property grows over time.

There is a wide range of potential investment properties in this community. The average home value of a property in the town is $494,500, reflecting an ongoing increase in home values over the years. Home values have risen sharply and consistently since 2012 and are expected to continue their climb into the future, meaning there is plenty of potential upside for investors to enjoy if they move into the community at this point. It is also an excellent location for people looking to explore the potential of income properties. Average monthly rent here is $2,537, above the median for Boston-area apartments. If you are interested in learning more about investing in property in North Andover, contact Boston City Properties. Our experts will provide detailed information about how you can maximize your value when selecting an investment in this community.

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