428-432 E 3rd St - Apartments FOR SALE


South Boston, MA 02127
$3,650,000 USD
781-776-4002
428-432 E 3rd St, South Boston, MA for Sale
$3,650,000 USD
Apartments - FOR SALE
1/13
null | 5.94% Cap Rate

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


HIGHLIGHTS

  • Access & Connectivity
  • Prime South Boston Neighborhood
  • Area Amenities & Demand Drivers
  • Transit Oriented Location
  • Strong Rental Demographics & Demand
  • Stabilized Asset with Rent Growth

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 428-432 E 3rd Street in the South Boston, “Southie” neighborhood of Boston, MA (the “Property”). 428-432 East 3rd Street consists of a three-story building containing nine (9) units comprised of nine (9), 1-Bedroom/1-Bathroom units with 6,018 square feet of living area in 8,024 gross square feet on a 0.06-arce parcel. The building has separate utilities and the tenants are responsible for their own electricity, gas heat and hot water. The units feature hardwood/luxury vinyl plank flooring, oak colored wood cabinets, and Formica countertops. The building also features coin operated laundry facility in the basement. The Property offers a potential value-add opportunity by duplexing the 1st floor units into the basement area. This configuration can significantly increase the livable square footage and bedroom counts improving overall building revenue. The Property has been well maintained and is currently leased at below market rates, offering the opportunity to increase rents to market rates via lease renewals.

FOR SALE DETAILS

PRICE

$3,650,000 USD

PRICE/SF

$607 USD /SF

# OF UNITS

9

PRICE/UNIT

$405,556

CAP RATE

5.94%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

428-432 E 3rd St

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

Dennis KelleherHorvath & TremblayMore Info
781-776-4002

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

Dennis KelleherHorvath & TremblayMore Info
781-776-4002

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