Property Details for 111 Chelsea St

Lot size

0.03 lot acres

Property size

4,602 SF

Property type

Apartment buildings

Description

This exceptional Class A, five-story multifamily building in Boston's desirable East Boston neighborhood presents a compelling investment opportunity. The property boasts a total of 4,602 square feet, situated on a 0.03-acre corner lot, and includes one commercial unit and four high-end residential units. All five units are currently 100% occupied, generating a substantial net operating income (NOI) of $148,341, representing a 6.45% cap rate. The building underwent a complete renovation in 2021, featuring modern amenities such as soaring loft-style ceilings, custom tiling, designer cabinetry, stainless steel appliances, energy-efficient LED lighting, brand new electrical systems, central air conditioning, and in-unit laundry. Each unit also benefits from separately metered utilities and hardwood floors. The residential units comprise three two-bedroom, two-bathroom units, one two-bedroom, 2.5-bathroom unit, and one one-bedroom, one-bathroom unit. The commercial unit generates $2,500 in monthly rent. The building's prime location, just one stop from Downtown Boston via the Blue Line and a block from the East Boston Greenway, offers unparalleled access to the city's vibrant amenities and the burgeoning East Boston waterfront. The asking price is $2,300,000, or $460,000 per unit, and the property is zoned 3F-2000. This is a fully stabilized, turnkey investment ready to generate immediate returns. A basement provides ample storage space. The building's exceptional condition, strong rental income, and prime location make it an ideal investment for discerning buyers seeking a high-return, low-risk opportunity in a rapidly appreciating market.

Location Insight

City

Boston

County

Suffolk

State

Massachusetts

Longitude

-71.0352

Latitude

42.3727