Norwood Multi-Family Homes

Norwood is a town that is part of the greater Boston area, so it is experiencing the same grown that is being seen in Boston currently. This makes it a great location to invest, especially if you are considering properties with multiple units. In addition, the town is only 23 miles from Boston, which means that professionals who work in the city may consider this area as a more relaxed place to lay their heads. Route 1 runs right through the town and leads to Providence, Rhode Island, and I-95 is close by as well. For those who prefer to take the train, there is an MBTA commuter rail within the community.

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Purchasing a Multi-Family Home

One of the best things about purchasing a home that has multiple units is that you have options. In this area, there are several types of properties to consider:

• Townhouses – These are great for anyone who is looking for a small town feel. These are side-by-side units that are typically designed with their own entrance way.
• Apartments and Condos – These are buildings that have multiple units on one floor. Some apartments and condos in the area are newly constructed, while others have been converted from single-family homes. If you own one of these types of buildings, hiring maintenance team to take care of the property may be beneficial to you, and with enough rental income, the wages of the maintenance team will be covered.
• Duplexes, Triplexes, and Quadplexes – These are homes that are separated by floor into units. One of the biggest conveniences of owning this type of home is that if you want to live in one of the units, you will be able to maintain and care for the other units with ease.

Have more questions about the types of multi-unit homes that are available in this town, contact Boston City Properties so that we can keep you updated with available properties.

Selling a Multi-Family Home

If you are thinking about selling your multi-unit home in this area, and you have tenants in the units, the first thing that you need to do is let them know that you intend to sell the property. They may want to find another place to live before you list the property, so make sure that you keep them updated with any new developments.

That being said, a tenant does not have to move from the property, so if you go through with selling the property with tenants living on the property, you will need to let prospective buyers know that they are living there and the terms of their lease. Some buyers like the idea of tenants living in the units because it provides them with immediate income, but other buyers may prefer empty units when they purchase the property so that they can be properly inspected.

Also, make sure that you have all of the units inspected before putting the property on the market. This allows you to make repairs that need to be done as well as complete any upgrades that will improve the value of the property. If you need help listing your multi-unit home, call a professional at Boston City Properties to help.

Neighborhoods in the Area

The major neighborhoods Norwood are:

• Normandy Drive / Nahatan Street – This is one of the most expensive neighborhoods in the town, and the demand is also quite high, which makes it harder to find a property to purchase here.
• Providence Highway – This area is a convenient part of town because there is a train station, two major highways, and an airport all located in the community. The residential area is mostly apartments.
• Winslows – The neighborhood on the southern end of town is filled with parks and places that make this a great area for a family. Most of the homes here were built between 1940 and 1970.
• Walpole Street / Washington Street – This area is mostly small apartment buildings that were built before the year 1939.
• Village Road West / Engamore Lane – This neighborhood is mostly single-family homes and apartment complexes. The average price for real estate in the area is 85 percent higher than it is in other Massachusetts communities, but that also means that the rent is higher as well.
• Town Center – This area of the town is mainly comprised of small apartment buildings that have been constructed from older homes that were built between 1940 and 1969.

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