Property Details

Year built

1899

Lot size

0.06 lot acres

Property size

3,540 SF

Property type

Commercial real estate

Description

This exceptional three-story brick building, situated in Boston's vibrant North End, presents a compelling value-add investment opportunity. The property boasts four units: two one-bedroom/one-bathroom and two two-plus bedroom/one-bathroom units, totaling 2,655 net rentable square feet within 3,540 total square feet. Built in 1899, the building sits on a 0.06-acre lot and is offered fee simple at $2,200,000 ($550,000 per unit). Each unit has separate meters for electricity, gas heat, and hot water, with tenant responsibility for utilities. One unit has recently undergone a complete renovation to condo-quality standards. Significant income growth potential exists through market rent adjustments, programmatic upgrades to the remaining units, and potential conversion of two units to three-bedroom layouts. The property's prime location offers unparalleled access to public transportation, including multiple T-stations within a short walk, and is surrounded by a wealth of amenities, including restaurants, shops, and entertainment venues. The North End's strong rental demand and employment opportunities promise continued rental rate acceleration, making this a highly attractive investment. The property's proximity to major attractions like the TD Garden, Quincy Market, and Boston Harbor further enhances its desirability and potential for strong returns. This is a rare chance to acquire a core asset in a thriving urban location.

Location Insight

City

Boston

County

Suffolk

State

Massachusetts

Longitude

-71.051761

Latitude

42.365884