95-97 Princeton St Boston, MA 02128

Property Details for 95-97 Princeton St

Year built

1910

Lot size

0.06 lot acres

Property size

4,503 SF

Property type

Commercial real estate

Description

This exceptional multifamily investment opportunity presents a fee-simple ownership of two buildings comprising five residential units at 95-97 Princeton Street in Boston's desirable East Boston neighborhood. The property boasts a total of 4,503 square feet of gross area, with 3,082 square feet of net rentable space, spread across a 0.063-acre lot. The unit mix includes one 1-bedroom/1-bathroom unit and four 2-bedroom/1-bathroom units. Built in 1910, this property offers a strong 5.98% cap rate and a substantial net operating income (NOI) of $101,536, translating to a price per unit of $339,800 and an asking price of $1,699,000. The property benefits from its strategic location in the Eagle Hill sub-district, near Central Square, providing easy access to a variety of amenities, including retail, restaurants, and entertainment options. Excellent public transportation is readily available, with the Airport Transit Station (0.4 miles) and Maverick Transit Station (0.7 miles) offering MBTA Blue Line service and bus connections. Major roadways, including Routes 1A, 1, 145, I-90, and I-93, are also easily accessible. The property's strong demographics, with over 323,800 people within a 3-mile radius and an average household income exceeding $158,688, further enhance its investment appeal. Each unit features individual meters for electricity and gas (heat and hot water), with tenants responsible for these utilities. The landlord covers water and sewer costs. This is a rare opportunity to acquire a well-located, income-producing multifamily property in a thriving Boston neighborhood.