Saugus Multi-Family Homes

If you need proximity to the big city, Saugus, Massachusetts, is only a scant 11 miles away from the quickly growing town of Boston. As part of the Boston suburbs, this proximity makes this suburban town an excellent choice for multi-unit property investors. This is also partially due to the fact that the town is considered to have a market that's very reasonably priced, especially in comparison to other prime neighborhoods in the Boston area.

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Currently, the market in the town is considered very hot; in fact, with a property value that is about $428,800 at the median, this is an excellent town to consider for rental properties. The town has a population of over 27,000 residents, and in the majority of town neighborhoods, there is a healthy mix of both property owners and renters.

Purchasing a Multi-Family Home

Saugus has a fairly large amount of owner-owned homes that have a single-family configuration, but in addition to this, there are several rental properties that can be purchased for an excellent profit. Here are a few types of the multi-unit home that you can find in town:

• Duplexes – In many cases, duplexes, triplexes, and quadplexes are multi-floor homes that have been converted to house several families. For this particular type of home, each family of tenants will dwell on a specific floor, and each tenant family will have access to the units by way of a common stair area. Sometimes, these homes are actually designed to serve as duplex-style housing, but in a town like this one with large colonial housing, conversion is fairly common.
• Apartments and Condos – The primary difference between apartments and condos is that usually condos units are owned by the tenant and apartments are leased. In most cases, these are both buildings that have multiple units per floor. Maintenance for an apartment or condo can be relatively complex, but an owner can hire a management company to handle the day to day operation of this type of multi-unit property.
• Townhomes – Similarly to duplexes, single-family homes are often converted into townhomes, especially in towns that have a lot of older large single-family dwellings. These are also great for just about any tenant that wants to have a suburban-style housing experience, but wants some of the convenience of living in a condo or apartment. Like duplexes, there are townhomes that have been specifically designed for this purpose, but these are less common in this town.

Finding a property to purchase in this Boston suburb can be an exciting experience, but let us at Boston City Properties help make it easier and quicker for you. Contact us today.

Selling a Multi-Family Home

Sometimes, it's time to sell your multi-unit property, and when this time comes, you should definitely consider what it takes to sell a property of this type. Unfortunately, selling one of these units isn't quite the same as selling a single-family property; these units can come with tenants and large utility bills, so you can expect that any savvy buyer is going to be extra prepared to drop out at the first scent of trouble.

If you're going to make a sale, you should definitely make sure the property is ready. Here are a few steps to take:

• Prepare Your Tenants – Always let your tenants know what's going on. If you have problem renters, opt not to renew leases or enter into proceedings that can lead to eviction; the last thing you want is a problematic tenant to bring down the marketability of the property.
• Prepare a Unit – If you can, set aside a vacant unit that's fully furnished and equipped so that the buyer can see what each unit looks like. If you don't have this, approach an existing tenant and ask to use their unit for the showing stage.
• Handle any Maintenance Needs – Everything has to be in tip-top shape, so have any work done that you've been putting off. If something is in disrepair, this is a sure way to lose a buyer.

If you need more advice or want to find leads for your sale, contact us at Boston City Properties; we know how to help our clients close deals.

Neighborhoods in the Area

There are five neighborhoods in this area, which include:

• Oakland Vale – Also called Oaklandvale, this particular neighborhood is much less densely populated than other parts of the city. Many of the homes are owner-occupied, but you can find rental properties as well.
• Lynnhurst – With several larger three- and four-bedroom units, it's easy to see how this neighborhood can be very profitable for those looking to convert to rental properties. Also, rent being over $1,650 on average means that there are opportunities for profit in this town.
• Town Center – Not only is the center of town more densely populated than many other neighborhoods, but rents are also very cheap on average. Vacancies are also very low.
• Cliftondale – Cliftondale is actually one of the urban neighborhoods in the area, so it's fairly easy to find rental properties despite the fact that there are still several owner-occupied residences.
• Salem Turnpike – This part of town is actually coastally located yet has a population that's fairly spread out in a suburban orientation. Some of the properties in town are absolutely historic; it's very possible to find colonial homes from the 19th century here.

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