310 Chelsea Street, East Boston, MA for sale

Investment Overview

Northeast Private Client Group is pleased to present 310 Chelsea St, a 3-unit multifamily property in East Boston, Massachusetts, a short crossing under Boston Harbor from downtown on the MBTA Blue Line. The building holds 2,600 square feet in three family-sized homes: one 2-bedroom of 800 square feet and two 3 bedroom units of 900 square feet each. All three units have been recently renovated, presenting updated, move-inready interiors that support both the in-place rents and the marks a buyer can push on turnover. Tenants pay their own heat. All three units are leased and producing $120,780 a year, $10,065 a month in place. Marking the roll to $3,400 on the two-bedroom and $3,600 on each three bedroom raises scheduled rent to $10,600 a month, or $127,200 a year. That is a $6,420 gain a buyer captures on ordinary turnover, with no renovation and no change to the expense line, and it moves NOI from $97,712 to $104,132. 310 Chelsea St is in-place East Boston income today, with $6,420 of embedded rent upside marked on the roll rather than a comparable and an expense line held to 19.1% because tenants pay their own heat. Offered at $1,700,000. All qualified parties are invited to request the full offering package.

Investment Highlights

• Below-Market Rents · $6,420 Of Embedded Upside
• In-Place Income · All Three Units Leased
• Tenants Pay Their Own Heat
• Family-Sized Three-Family · 2,600 SF
• Blue Line Minutes To Downtown Boston