238 Chelsea St - Apartments FOR SALE


Everett, MA 02149- Glendale
$8,000,000 USD
857-990-6802
238 Chelsea St, Everett, MA for Sale
$8,000,000 USD
Apartments - FOR SALE
1/6
null | Request Cap Rate

238 Chelsea St
Everett, MA 02149
Glendale


HIGHLIGHTS

  • 26-Unit Multifamily Property
  • (20) Studios and (6) One Bedroom units
  • Off-Street Parking & Coin Op Laundry
  • Built in 1970
  • New Roof

OVERVIEW

Northeast Private Client Group is pleased to present the Chelsea Street Apartments located at 238 Chelsea Street in Everett, MA. Directly north of Boston, close proximity to Route 1, easy access to MBTA (Orange Line) & Chelsea Train Station. This fully deleaded 3-story brick building built in 1970 sits on a 0.34 acre (14,810 SF) lot. Consisting of (20) studio apartments & (6) Onebedroom units. Tenants enjoy off-street parking and coin-op laundry. Located less than 2 miles from Wynn Casino and down the street from new developments including The Pioneer, Jade, Anthem Everett etc. There is a significant opportunity to bring rents up to market across the board. Currently, the building average for studio apartments is $1,674 a month compared to the fair market rent for a studio in Everett of $2,359, a difference of $685 per unit per month. The building average for one-bedroom apartments is $1,838 a month compared to the fair market rent for a one bedroom in Everett of $2,475, a difference of $637 per unit per month. All interested and qualified parties will have an opportunity to tour the property during scheduled appointments and obtain additional information upon request.

FOR SALE DETAILS

PRICE

$8,000,000 USD

PRICE/SF

$485 USD /SF

# OF UNITS

26

PRICE/UNIT

$307,692

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chelsea Street Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1970

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,038 SF

ZONING

DD

APN/PARCEL ID

EVER-000000-L000007-000111

ASK ABOUT THIS PROPERTY

Drew KirklandNortheast Private Client GroupMore Info
857-990-6802

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Drew KirklandNortheast Private Client GroupMore Info
857-990-6802

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.