428-432 E 3rd St - Apartments FOR SALE


South Boston, MA 02127
$4,150,000 USD
617-455-7170
428-432 E 3rd St, South Boston, MA for Sale
$4,150,000 USD
Apartments - FOR SALE
1/19
null | 5.39% Cap Rate

428-432 E 3rd St
South Boston, MA 02127


HIGHLIGHTS

  • Undermarket Rents: ~$200/Month Upside Per Unit - offering immediate NOI growth potential
  • Duplex Potential – First Floor to Basement with Windowed Lower Level: offering layout flexibility to duplex the first-floor units
  • Rooftop Expansion or Private Deck Opportunity: half-floor addition or deck opportunity(subject to zoning approval)
  • Alcove Conversion Potential: for Rent or Resale Gain
  • Turnkey 9-Unit – Fully Occupied, Renovated in 2020: Stabilized investment with updated systems and no major capital needs
  • High-Demand South Boston Location – Near Seaport & Transit: Walkable to Broadway, public transit, restaurants, and major employment zones

OVERVIEW

Welcome to the Residences at East Third. Located at 428-432 E Third St, South Boston, this high-demand, high-occupancy multi-family property offers an exceptional investment opportunity in one of Boston’s most sought-after neighborhoods. Featuring nine fully leased units, this income-generating asset provides strong cash flow and long-term appreciation potential. Situated in a thriving rental market, the property benefits from proximity to Seaport, Downtown Boston, public transportation, and top dining and entertainment options. Whether you're an investor seeking a turnkey asset or looking to expand your portfolio, this prime South Boston real estate is a rare find. Don’t miss this high-yield investment opportunity! Great Investment Opportunity in South Boston - Condominium Conversion Potential or Buy & Hold Other opportunity available at close by properties to purchase along with this one. A chance to do a large redevelopment project.

FOR SALE DETAILS

PRICE

$4,150,000 USD

PRICE/SF

$690 USD /SF

# OF UNITS

9

PRICE/UNIT

$461,111

CAP RATE

5.39%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Residences at East Third

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1899

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,770 SF

ZONING

A

APN/PARCEL ID

SBOS-000000-000006-003055

ASK ABOUT THIS PROPERTY

Michael WebsterPort City Realty GroupMore Info
617-455-7170

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Michael WebsterPort City Realty GroupMore Info
617-455-7170

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