850 Broad St Weymouth, MA 02189

Property Details for 850 Broad St

Year built

1986

Lot size

0.12 lot acres

Property size

3,042 SF

Property type

Commercial real estate

Description

This exceptional value-add opportunity presents a six-unit apartment building at 850 Broad Street, Weymouth, MA, 02189. The property, situated on a 0.12-acre corner lot, boasts 2,991 square feet of net rentable space within a 3,042 square foot building constructed in 1986. The three-story building features six residential units: two one-bedroom/one-bathroom units and four studio units. All units are currently 100% occupied. Seven off-street parking spaces are available for residents. The building includes an on-site laundry facility. Individual units are separately metered for electricity, electric heat, and hot water, with tenants responsible for these costs. The landlord covers common electric, water, and sewer expenses. Current rents are below market value, presenting a significant opportunity to increase revenue through market-rate adjustments and potential unit upgrades. The property benefits from a highly desirable transit-oriented location, within walking distance of restaurants, retailers, and public transportation, including an MBTA bus stop (0.1 miles) and the East Weymouth MBTA station (0.5 miles) providing direct access to Boston. The area is experiencing significant development, including a planned mixed-use project adding 200 residential units nearby. Strong demographics, with an average household income exceeding $167,132 within a 3-mile radius, further enhance the investment potential. This property offers a compelling combination of immediate income and long-term growth potential in a thriving South Shore community. The asking price is $1,075,000, representing a price per unit of $179,167 and a price per square foot of $359. This fee simple ownership opportunity is ideal for investors seeking strong returns in a stable market.