823 6Th StBoston, MA 02127

Property Details for 823 6Th St

Zone code

CP

Property type

Parking lots & garages

APN

SBOS W:06 P:04402 S:010

APU

SBOSW06P04402S010

Description

This exceptional multifamily investment opportunity presents a three-story building located in the highly sought-after South Boston, MA, neighborhood, just one block from the ocean and beach. The property, encompassing 823 East Sixth Street and 149 P Street, underwent extensive renovations in 2018. The building comprises four residential condominiums, each boasting gourmet kitchens, gas fireplaces, in-unit washer/dryers, and stunning water or city views. A commercial condominium, currently leased to a thriving upscale gastropub ("Local 149"), adds significant income potential. Four on-site garage spaces are also included. The property offers a compelling 6.00% cap rate with a Net Operating Income (NOI) of $324,000 and an asking price of $5,400,000. The consistently low residential vacancy rate and the strong performance of the commercial tenant underscore the exceptional investment potential. South Boston's status as one of the fastest-growing submarkets in the US further enhances the property's long-term appreciation prospects. This is a rare opportunity to acquire a meticulously maintained, high-performing asset in a prime location.

Location Insight

City

South Boston

County

Suffolk

State

Massachusetts

Latitude

42.3331

Longitude

-71.0274

CBSA code

14460

CBSA name

BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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