550 E 3rd St - Apartments FOR SALE


Boston, MA 02127- South Boston
$1,850,000 USD
781-776-4000
550 E 3rd St, Boston, MA for Sale
$1,850,000 USD
Apartments - FOR SALE
1/14
null | 5.73% Cap Rate

550 E 3rd St
Boston, MA 02127
South Boston


HIGHLIGHTS

  • Dynamic South Boston Location
  • Transit Oriented Location
  • Stabilized Asset with Rent Growth

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive sale of the multi-family investment property located at 550 E 3rd Street in the South Boston, “Southie”, neighborhood of Boston, Massachusetts (the “Property”). Centrally located in the heart of South Boston and 1.2 miles to Broadway Station and 1.7 miles to Boston’s South Station, the Property offers the rare opportunity to acquire an outstanding core asset in an incredible urban-infill location in one of the strongest real estate markets in the country. The Property consists of a three-story building containing three (3), 2-Bedroom/1-Bathroom units with 2,501 square feet of living area in 3,752 gross square feet on a 0.024-acre parcel. The building has separate utilities and the tenants are responsible for their own electricity, gas fired heat (forced air), hot water, central air conditioning, and a gas stove. The building is also fully sprinklered. Unit three has been renovated and features hardwood floors, white shaker cabinets and quartz countertops. Unit one features hardwood floors, and both units one and two will benefit from cosmetic updates to the flooring (unit two), kitchen cabinets and bathrooms. The Property has been well maintained and is currently leased at below market rates offering the opportunity to significantly increase rents to market rates via programmatic updates to the unrenovated units.

FOR SALE DETAILS

PRICE

$1,850,000 USD

PRICE/SF

$617 USD /SF

# OF UNITS

3

PRICE/UNIT

$616,667

CAP RATE

5.73%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2000

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.02 AC

LAND SF

1,045 SF

ZONING

-

APN/PARCEL ID

SBOS-000000-000006-003283-000020

ASK ABOUT THIS PROPERTY

Dennis KelleherHorvath & TremblayMore Info
781-776-4000

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Dennis KelleherHorvath & TremblayMore Info
781-776-4000

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