1 Saratoga St Boston, MA 02128
- Apartment buildings
- 2,900 SF
Current Use by Public Records
- Apartment buildings
Property Details for 1 Saratoga St
- Property size
- 2,900 SF
- Property type
- Apartment buildings
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Boston
- County
- Suffolk
- State
- Massachusetts
- Longitude
- -71.0352
- Latitude
- 42.3772
