760 Cummins Hwy Mattapan, MA 02126-3267
- Investment properties
- 33,280 SF
- 0.65 lot acres
Current Use by Public Records
- Investment properties
Property Details for 760 Cummins Hwy
- Year built
- 1950
- Construction
- BRICK
- Lot size
- 0.65 lot acres
- Property size
- 33,280 SF
- Zone code
- RC
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- MATT W:18 P:02253 S:000
- APU
- MATTW18P02253S000
Description
This exceptional 38-unit apartment building, located at 760 Cummins Highway in Boston, Massachusetts, presents a compelling value-add investment opportunity. The property, a four-story elevator building constructed in 1950, enjoys a prime urban infill location within walking distance of the Blue Hills MBTA Commuter Rail and bus service, offering convenient access to Downtown Boston, Longwood Medical Area, Back Bay, and Cambridge. The Mattapan Square Red Line station is also conveniently located less than half a mile away. Residents benefit from nearby grocery stores, CVS, various retail options, and numerous dining establishments. Currently operating at 95% occupancy with historically low vacancy, the property boasts strong fundamentals and significant upside potential. Recent renovations, completed since 2018, include upgraded common areas featuring a new lobby with a Swiftlane smart entry system, a modernized mail area, and a new package room. Furthermore, 21 units have undergone recent renovations, resulting in an average rent premium of $338 (17.1%) for 2024 new move-ins. This market-rate, non-deed-restricted community offers a rare chance to acquire a well-maintained asset with proven organic rent growth and substantial value-add potential in a highly desirable Boston location. The property is a single building with 38 apartment homes. This is a rare opportunity to acquire a well-positioned multifamily asset in a thriving Boston neighborhood.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $9,350,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $9,710,000
- 6.5%
- $9,895,000
- 7%
- $9,345,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $9,520,000
- Geo Method
- $9,100,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $8,205,000
- Retail
- $8,230,000
- Mixed-Use
- $10,875,000
- Hospitality
- $9,670,000
- Educational
- $8,720,000
- Residential Income
- $8,520,000
- Energy
- $9,625,000
- Income-Based Land
- $8,400,000
- Food Service
- $8,425,000
Location Insight
- Map
- Local Demand
- City
- Mattapan
- County
- Suffolk
- State
- Massachusetts
- Longitude
- -71.1006
- Latitude
- 42.2709
- CBSA code
- 14460
- CBSA name
- BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA
