Reading Multi-Family Homes

Reading is a town of over 24,000 individuals that is located in Middlesex County, Massachusetts. With a median home value of $594,000, this is one of the more expensive towns in the state. In fact, the $328 per square foot price is actually about $50 more per square foot than properties that are located in the Boston Metro area. That being said, this is still a great town to invest in, especially considering that the home values in the area have gone up by nearly eight percent in the past year.

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This town is only 14 miles from Boston, so it is even a great option for professionals who work in the city and prefer to live in a suburban area that is a little less busy.

Purchasing a Multi-Family Home

As a town that is in close proximity to Boston, it is a great location to invest in property, especially multi-unit homes. With the growth that is currently happening in Boston and the surrounding area, you can expect to see this town continue to grow. If investing in a multi-unit home is your intent, you have quite a few options.

• Duplex, Triplex, and Quadplex – These options are great for an owner who wants to live on-premise. A duplex is a two unit home. Each unit is located on a different floor, and the entrance of each unit is typically separate from the other units. A triplex and a quadplex will add more floors/units to the home, which provides more space to rent out to tenants.
• Townhouse – This is another type of property that is ideal for owners who like to live on the property. Each property is a two-story unit that is attached to the other units at the wall.
• Apartment and Condominium – These are buildings that typically have several units per floor. They can be renovated single-family homes or something that has been newly constructed in the area.

If you are interested in one of these types of properties in the area, call Boston City Properties today!

Selling a Multi-Family Home

If you are looking to sell property in the area, there are a few things that you are going to want to do before listing it. Firstly, if you have tenants in the building, it is important that you let them know that you intend on selling the property. In Massachusetts, when you sell property, the tenants that live there do not have to move. The terms of their lease will be transferred to the new owner, and the lease can even be renewed. Once the tenant is aware of your intent, you will want to get the property ready by:

• Cleaning – This includes cleaning and repainting the walls, deep cleaning the carpeting, and making sure that there is no clutter around the area. This includes the individual units because potential buyers may want to see this space as well before committing.
• Repairs and Upgrades – This is important as well because no one wants to see things wrong with the property when they are looking at it, so if a cover plate on a light switch is broken, replace it. If the appliances are old, update them.
• Up the Curb Appeal – First impressions matter, so when you are trying to sell your multi-unit property, planting some bushes, trimming the grass, and adding some colorful flowers can make a potential buyer stop and view the property.

Contact Boston City Properties today so that we can help you find a buyer that appreciates the value of your property.

Neighborhoods in the Area

In all, there are four neighborhoods in this town, which are:

• Main Street / Summer Avenue – This is the neighborhood that is the southernmost in town, and it made up of single-family homes and apartment complexes that have a median price of about $657,000.
• Franklin Street – This is a heavily forested part of town, which makes it a great area for families to enjoy. Homes in the area are about $638,000, which is more expensive than 90 percent of the United States.
• Reading Highlands – This is a part of town that is mostly single-family homes and apartment buildings from the 1930s and before. Currently, the median real estate price in the area is about $578,000.
• Town Center – The eastern part of town, which is known as the Town Center, is mostly comprised of historic buildings from before 1939. The median price for homes in this neighborhood is about $479,900, but with high rental costs, it is a great place to invest.

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