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238 Chelsea St Everett, MA 02149

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For Sale
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26-unit apartment building in Everett with value-add potential.

Property size:
16,500 SF

Property Features for 238 Chelsea St

General Information

Standard status
Active
Size
16,500 SF

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Listing Contact
Anthony Rakuskas
Source: Crexi

Listing Agency: NorthEast Private Client Group Shelton Listing Agent: Anthony Rakuskas

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Everett Multifamily Investment Opportunity

The Chelsea Street Apartments, located at 238 Chelsea Street in Everett, Massachusetts, present a multifamily investment opportunity. The 3-story brick building, constructed in 1970, is situated on a 0.34-acre (14,810 SF) lot. The property contains 20 studio apartments and 6 one-bedroom units. Residents have access to off-street parking and coin-operated laundry facilities. The building is located less than 2 miles from the Wynn Casino and near new developments including The Pioneer, Jade, and Anthem Everett. The property is located directly north of Boston, with convenient access to Route 1, the MBTA Orange Line, and the Chelsea Train Station. There is an opportunity to increase rents to market rates. The current average rent for studio apartments is $1,674 per month, while the fair market rent for a studio in Everett is $2,359. The current average rent for one-bedroom apartments is $1,838 per month, compared to the fair market rent of $2,475.
Location Intelligence

Current Use by Public Records

Apartment buildings

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Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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City
Everett
County
Middlesex
State
Massachusetts
Longitude
-71.0459592
Latitude
42.4032892

FAQs

What type of property is this?
Apartment building - 26-unit apartment building in Everett with value-add potential.
Where is this apartment building located?
The property is located at 238 Chelsea St Everett, MA.
What are key features of this property?
This property features: - Significant opportunity to increase rents, with studios averaging $685 and one-bedrooms averaging $637 below market.; - Prime location directly north of Boston with easy access to Route 1, MBTA Orange Line, and Chelsea Train Station.; - Fully deleaded 3-story brick building constructed in 1970.
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