Property Details for 18 Highgate St

Year built

2023

Lot size

0.19 lot acres

Property size

13,465 SF

Property type

Apartment buildings

Description

This exceptional 2023-built, three-story apartment building in Allston, MA offers a compelling investment opportunity. Boasting nine units – a mix of one to five-bedroom layouts, each featuring modern kitchens with granite countertops and stainless steel appliances, hardwood floors, in-unit laundry, and central air – this property provides substantial rental income. The 10,035 square feet of net rentable space sits on a 0.19-acre lot and includes six private garage spaces and bike storage. Located in a highly desirable area, it benefits from proximity to multiple T stations (Green Line and Commuter Rail), major highways (I-90, US Routes 20 & 3), and renowned universities (Boston University, Boston College, Harvard, MIT). The strong demographics, with average household incomes exceeding $137,000 within a one-mile radius, ensure consistent demand. The property's 5.69% cap rate and $488,090 NOI on an asking price of $8,575,000 represent a strong return on investment. This turnkey asset presents a rare chance to acquire a stabilized, high-performing property in a rapidly growing market. The building's 13,465 square feet of gross area and the $952,778 price per unit further highlight its value. This fee-simple ownership opportunity is ideal for investors seeking immediate income and long-term appreciation.

Location Insight

City

Boston

County

Suffolk

State

Massachusetts

Longitude

-71.1316

Latitude

42.3554