111 Chelsea St Boston, MA 02128

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