3 Taunton Ave - Rockland OM

GRIFFITH | PEPDJONOVIC

3 TAUNTON AVENUE

Rockland, MA

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Disclaimer
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information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a
service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

3 TAUNTON AVENUE
Rockland, MA
ACT ID Z0560144

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PRESENTED BY Evan Griffith

Tony Pepdjonovic First Vice President Investments
Senior Associate Director - National Multi Housing Group
Director - National Multi Housing Group Boston Office
Boston Office Tel: (617) 896-7221
Tel: (617) 896-7277 Fax: (617) 701-7019
Fax: (617) 539-8331 [email protected]
[email protected] License: MA 009521845
License: MA 9525302

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3 TAUNTON AVENUE

INVESTMENT

OVERVIEW

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3 TAUNTON AVENUE

PROPERTY OVERVIEW

PROPERTY OVERVIEW

Marcus and Millichap is pleased to announce the exclusive listing of 3 Taunton Ave, a 10 unit apartment building in downtown
Rockland, MA. The property consists of (8) studios, (1) two- bedroom unit, and (1) one-bedroom detached bungalow. The property
also features a paved off-street parking lot for tenant use. This asset presents tremendous upside by raising current rents up to
market rates.

This opportunity is located just 2.5 miles from one of the largest master planned Mixed-Use developments in the history of New
England. Union Point is envisioned to be the first "Smart City" in the Northeast. The 1,500 acre former Weymouth Naval Station will
be transformed into 8MM+ Square Feet of Commercial space and 4,000+ residential units. Union Point will be a market-changing
development providing a walkable neighborhood, state of the art movie theater, performing arts venue and college campus just 12
miles from the City of Boston.

The town of Rockland is located less than 18 miles from the city of Boston. Situated right off of route 3 allows residents easy
access to all parts of New England. Commuter Rail Services is conveniently located only a 5 minute drive from the property
(Abington Station). Rockland is home to the headquarters of convenience store chain Tedeschi Food Shops, Rockland Trust
Company (1000 Employees/4.6 Billion in assets) and the US location of EMD Serono.

PROPERTY OVERVIEW

 10 Unit Apartment Building Located in Rockland,
Massachusetts

 Value-Add Opportunity in Raising Current Rental Income
 Located 2.5 Miles From Union Point Transit Oriented

Development
 Historically High Occupancy Rates
 Walking Distance to All Amenities Downtown Rockland has to

Offer
 Off-Street Parking Lot For Tenant Use

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3 TAUNTON AVENUE

PROPERTY PHOTOS

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3 TAUNTON AVENUE

REGIONAL MAP

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3 TAUNTON AVENUE

LOCAL MAP
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3 TAUNTON AVENUE

AERIAL PHOTO

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3 TAUNTON AVENUE

FINANCIAL

ANALYSIS

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3 TAUNTON AVENUE FINANCIAL ANALYSIS
RENT ROLL SUMMARY

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3 TAUNTON AVENUE FINANCIAL ANALYSIS
RENT ROLL DETAIL

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3 TAUNTON AVENUE FINANCIAL ANALYSIS
OPERATING STATEMENT

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3 TAUNTON AVENUE FINANCIAL ANALYSIS
PRICING DETAIL

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3 TAUNTON AVENUE

MARKET

OVERVIEW

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3PRTAOUPNERTOTYNNAAVMENEUE MDAERMKEOTGINRGAPTHEIACMS

Created on May 2018 1 Miles 3 Miles 5 Miles HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles
 2017 Estimate
POPULATION 9,653 44,466 121,778 3.55% 6.13% 7.42%
 2022 Projection $200,000 or More 6.25% 9.69% 9.24%
9,723 43,213 118,915 $150,000 - $199,000 16.16% 21.84% 21.29%
Total Population $100,000 - $149,000 15.04% 14.38% 14.97%
 2017 Estimate 9,463 42,028 115,150 $75,000 - $99,999 21.69% 17.67% 16.87%
$50,000 - $74,999 12.49% 10.05% 9.92%
Total Population 9,516 41,249 111,224 $35,000 - $49,999 10.49% 8.25% 7.71%
 2010 Census $25,000 - $34,999 7.78% 6.15% 6.38%
9,078 37,925 110,015 $15,000 - $24,999 6.55% 5.85% 6.18%
Total Population 1 Miles 3 Miles 5 Miles Under $15,000 $79,980 $99,363 $102,960
 2000 Census Average Household Income $62,900 $78,350 $79,641
3,930 16,538 47,277 Median Household Income $32,257 $36,510 $39,331
Total Population Per Capita Income 1 Miles 3 Miles 5 Miles
 Daytime Population 3,892 15,835 45,308 POPULATION PROFILE
2.49 2.65 2.60  Population By Age 9,723 43,213 118,915
2017 Estimate 2017 Estimate Total Population 22.37% 24.68% 23.99%
HOUSEHOLDS 3,749 15,294 43,603 Under 20 22.04% 18.51% 17.66%
 2022 Projection 20 to 34 Years
3,612 14,417 40,749 35 to 39 Years 6.04% 5.75% 6.08%
Total Households 0.98% 4.44% 4.35% 40 to 49 Years 12.68% 13.86% 13.95%
 2017 Estimate 1 Miles 3 Miles 5 Miles 50 to 64 Years 20.58% 21.95% 21.91%
Age 65+ 16.27% 15.24% 16.41%
Total Households 3,930 16,538 47,277 Median Age
Average (Mean) Household Size 4,075 16,356 46,468  Population 25+ by Education Level 39.60 40.89 41.82
 2010 Census 2,485 11,503 33,437 2017 Estimate Population Age 25+
Total Households 1,407 11,871 Elementary (0-8) 6,868 29,833 83,409
 2000 Census 4,332 Some High School (9-11) 2.05% 1.21% 1.29%
Total Households 183 521 1,159 High School Graduate (12) 5.36% 4.19% 4.10%
Growth 2015-2020 Some College (13-15) 41.73% 33.49% 32.63%
HOUSING UNITS 3,892 15,835 45,308 Associate Degree Only 20.58% 20.80% 18.82%
 Occupied Units 29.37% 24.69% 26.73% Bachelors Degree Only 10.34% 10.63% 10.42%
2022 Projection 31.37% 30.62% 30.46% Graduate Degree 12.72% 20.75% 21.68%
2017 Estimate 16.01% 17.08% 16.52%  Population by Gender 5.29% 7.94% 10.31%
Owner Occupied 13.31% 16.09% 15.18% 2017 Estimate Total Population
Renter Occupied Male Population 9,723 43,213 118,915
Vacant 6.24% 7.62% 7.36% Female Population 48.17% 48.44% 48.30%
 Persons In Units 3.70% 3.89% 3.74% 51.83% 51.56% 51.70%
2017 Estimate Total Occupied Units
1 Person Units
2 Person Units
3 Person Units
4 Person Units
5 Person Units
6+ Person Units

Source: © 2017 Experian

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PRESENTED BY Evan Griffith

Tony Pepdjonovic First Vice President Investments
Senior Associate Director - National Multi Housing Group
Director - National Multi Housing Group Boston Office
Boston Office Tel: (617) 896-7221
Tel: (617) 896-7277 Fax: (617) 701-7019
Fax: (617) 539-8331 [email protected]
[email protected] License: MA 009521845
License: MA 9525302

www.MarcusMillichap.com

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