1 Saratoga StBoston, MA 02128

Property Details for 1 Saratoga St

Property size (Sq ft)

2,900 SF

Property type

Apartment buildings

Description

This exceptional Class A, three-unit apartment building in Boston's desirable Eagle Hill neighborhood presents a compelling investment opportunity. Boasting a 6.51% cap rate and a 100% occupancy rate, the property generates a substantial net operating income (NOI) of $107,418. Each of the three units, totaling 2,900 square feet, underwent a full renovation in 2021 and features modern amenities including central air conditioning, in-unit laundry, and a private deck. Two units are currently rented at $3,500 each, and one at $2,885, with new leases starting September 1, 2024, projected to increase total rent to $10,175. The building sits on a 3-story structure, zoned 3F-2000, and includes a large, fenced-in shared backyard. Its prime location offers easy access to the East Boston Greenway, public transportation (close proximity to the Airport T stop), and the vibrant neighborhood's restaurants and shops. The property's strong financial performance, desirable location, and modern amenities make it an ideal investment for discerning buyers seeking a stabilized, high-return asset. The separately metered utilities contribute to efficient management. Potential exists to add a ground-level unit, further enhancing the property's value. This is a rare opportunity to acquire a fully renovated, high-performing multifamily property in a rapidly appreciating area of Boston.

Location Insight

City

Boston

County

Suffolk

State

Massachusetts

Latitude

42.3772

Longitude

-71.0352

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