159 Washington St
Listing Notes
Exceptional investment opportunity! This well-maintained mixed-use property offers approximately 3,500 square feet of gross floor area and provides multiple income streams with significant upside potential. The building features two spacious residential apartments, including one three-bedroom unit and one four-bedroom unit. Both apartments are fully equipped with appliances, all of which convey with the sale, making this a truly turnkey investment. The commercial space is occupied by a fully equipped, state-of-the-art three-station hair salon, offering an attractive and modern business environment. All tenants are responsible for paying their own utilities, helping to minimize owner expenses and maximize cash flow. The property currently generates an impressive annual net operating income (NOI) of $26,966. With rental rates adjusted to current market value, the projected annual NOI exceeds $42,000, presenting an outstanding value-add opportunity for investors seeking immediate income with substantial future growth potential. Whether you're expanding your investment portfolio or searching for a mixed-use property with strong cash flow and long-term appreciation potential, this property is one you won't want to miss.
Price in context
Cheaper than 8% of the 24 homes listed nearby right now, which run $137,900 to $349,900.
See all 24 nearby listings
| Address | Asking | Size |
|---|---|---|
| 120 Cottage St Unit A | $137,900 | 2 bd · 1 ba |
| 86 Nelson St | $149,900 | 3 bd · 2 ba |
| 5 Lafayette Pl | $150,000 | 3 bd · 2 ba |
| 15-17 Wall St | $154,900 | 7 bd · 3 ba |
| 60 Union St | $159,000 | 3 bd · 2 ba |
| 87 Nelson St | $159,900 | 3 bd · 2 ba |
| 2 Guilfoil Ave | $160,000 | 4 bd · 2 ba |
| 118 Cottage St | $164,500 | 5 bd · 2 ba |
| 152 Cottage St | $164,900 | 2 bd · 1 ba |
| 49 Park Ave | $164,900 | 4 bd · 2 ba |
| 63 Perrine St | $167,900 | 2 bd · 1 ba |
| 193 Cottage St | $169,000 | 5 bd · 4 ba |
| 40 Pulaski St | $179,900 | 4 bd · 2 ba |
| 9 Cross St | $179,900 | 6 bd · 3 ba |
| 23 North Park | $184,900 | 3 bd · 2 ba |
| 2 Lansing St | $189,900 | 4 bd · 2 ba |
| 13 Madison Ave | $199,000 | 5 bd · 2 ba |
| 249 State St | $199,900 | 3 bd · 2 ba |
| 114 Ross Pl | $199,900 | 6 bd · 2 ba |
| 37 Perrine St | $217,900 | 5 bd · 3 ba |
| 26 Standart Ave | $239,000 | 4 bd · 2 ba |
| 133 Curtis Pl | $249,000 | 3 bd · 3 ba |
| 136 Perrine St | $289,900 | 3 bd · 2 ba |
| 194 Genesee St | $349,900 | 4 bd |
Where it is
For sale Coming soon Recently sold— zoom out for more