Peabody Multi-Family Homes

City life may not be for everyone, but if you are looking for a mid-sized city to call home, then Peabody is a great option to consider. It is located in Essex County, which is in the North Shore region of the state. This city of over 50,000 individuals is only 15 miles from Boston, which means that it is easy to commute to on a daily basis. Interstate 95 is right near the community along with several other state routes that make traveling to the neighboring areas a breeze. There is even an MBTA commuter rail in the city that offers service to Boston's North Station. With so much growth happening in Boston and the surrounding area, it only makes sense that a city in this area would have a hot real estate market as well.

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Purchasing a Multi-Family Home

Are you looking to invest in property in a city? Well, this area is a great option that is close to Boston; the median price for property in the area is about $423,000, which is well above some of the communities in the state, but since this is a growing city, the value of the homes in the area is still increasing. In fact, in the last year, the value of the homes in the area has gone up nearly six percent, and it is predicted that they will grow at least another four percent in the next year.

So, if you are looking to invest, what features should you expect a multi-unit home to have? Well, in this area, you are going to want a property that has a good view of the surrounding area, which makes high-rise apartments and townhouses a good option. Also, units with balconies should be considered so that when you rent out the units to tenants, the outdoor space can be a selling point.

Inside, make sure to look for units that have stainless steel appliances, kitchens with an open concept, hardwood floors, and spacious bedrooms. In addition, if you can find a home with fireplaces in the units, that will be a big plus for potential renters because it will help heat the units during the cold winter months.

If you need representation while purchasing a new home, call Boston City Properties today!

Selling a Multi-Family Home

Before you decide to put your multi-unit home on the market, it is important that you check the surrounding area to get an idea of other homes that are on the market in the area. The goal of selling a home is to make your property more enticing than others on the market. This means that you need to give an amazing first impression that will wow potential buyers. The curb appeal is a massive part of this, but inside, you can also upgrade the kitchen and bathroom, and install new carpeting or flooring. Also, make sure that you check all of the units to make sure that there are not any repairs that need to be completed.

Call Boston City Properties today so that we can help you list your home at a price that is appropriate for the area, and help you find a buyer quickly.

Neighborhoods in the Area

With more than 16 square miles of land in this city, it makes sense for the area to have a few neighborhoods. In total there are nine neighborhoods, which are:

• Birch Street / Russell Street – This is one of the more expensive neighborhoods in the city, but the homes in the area are in demand, which makes them hard to find.
• West Peabody – This area is full of parks and beautiful vistas. This area is comprised of mostly townhouses that have an older look that dates back to the 1940s.
• South Part of the City – With single-family homes and small apartments, this part of the city is a lovely location that is close to the water.
• Margin Street / North Shore Avenue – If you are looking for a small apartment building that was built before 1939, this is a great neighborhood to invest in.
• Jubilee Drive / 1st Avenue – With apartments and single-family homes built between 1940 and 1969, this is the perfect place to invest, especially since the average rental rate in the area is almost 65 percent higher than other neighborhoods in the state.
• Lynn Street / Coolidge Avenue – The southernmost part of town is a great area for anyone who loves golf. The area is mostly small apartment buildings and single-family homes, which leaves a lot of green spaces to enjoy in the area.
• Proctor – This is an area with mostly newly constructed homes that were built since the year 2000.
• Main Street / Washington Street – this is considered to be the historic district of the city. Property is in high demand here, especially the high-rise apartments.
• City Center – This is an area of the city that is comprised of mostly high-rise apartments and small apartment buildings that were built before 1939, so they still have some of the Victorian charm that this area is known for.

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