1 Saratoga StBoston, MA 02128

For Sale
$1,650,000

3-Unit Apartment Building, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional Class A, three-unit apartment building in Boston's desirable Eagle Hill neighborhood presents a compelling investment opportunity. Boasting a 6.51% cap rate and a 100% occupancy rate, the property generates a substantial net operating income (NOI) of $107,418. Each of the three units, totaling 2,900 square feet, underwent a full renovation in 2021 and features modern amenities including central air conditioning, in-unit laundry, and a private deck. Two units are currently rented at $3,500 each, and one at $2,885, with new leases starting September 1, 2024, projected to increase total rent to $10,175. The building sits on a 3-story structure, zoned 3F-2000, and includes a large, fenced-in shared backyard. Its prime location offers easy access to the East Boston Greenway, public transportation (close proximity to the Airport T stop), and the vibrant neighborhood's restaurants and shops. The property's strong financial performance, desirable location, and modern amenities make it an ideal investment for discerning buyers seeking a stabilized, high-return asset. The separately metered utilities contribute to efficient management. Potential exists to add a ground-level unit, further enhancing the property's value. This is a rare opportunity to acquire a fully renovated, high-performing multifamily property in a rapidly appreciating area of Boston.

Highlights

  • Three 2+ bedroom units.
  • Current annual gross income: $9,885. Projected annual gross income (starting 9/1/2024): $10,175.
  • Fully renovated, fully stabilized multi-family property.
  • Conveniently located near Airport T stop.
  • Individually metered utilities.
  • Central air conditioning and in-unit laundry.

Property Details for 1 Saratoga St

Property type
Multifamily properties, Apartment buildings
Square Feet
2,900 SF
Class
A
Year Renovated
2021
Stories
3
Units
3

Location Insight

City
Boston
County
Suffolk
State
Massachusetts
Latitude
42.3771903
Longitude
-71.0352217
1 Saratoga St, Boston, Massachusetts
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1 Saratoga St
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