760 Cummins HwyBoston, MA 02126

Property Details for 760 Cummins Hwy

Year built

1950

Construction

BRICK

Lot size

0.65 AC

Property size (Sq ft)

33,280 SF

Zone code

RC

Property type

Investment properties

Property subtype

Live-work space

APN

MATT W:18 P:02253 S:000

APU

MATTW18P02253S000

Description

This exceptional 38-unit apartment building, located at 760 Cummins Highway in Boston, Massachusetts, presents a compelling value-add investment opportunity. The property, a four-story elevator building constructed in 1950, enjoys a prime urban infill location within walking distance of the Blue Hills MBTA Commuter Rail and bus service, offering convenient access to Downtown Boston, Longwood Medical Area, Back Bay, and Cambridge. The Mattapan Square Red Line station is also conveniently located less than half a mile away. Residents benefit from nearby grocery stores, CVS, various retail options, and numerous dining establishments. Currently operating at 95% occupancy with historically low vacancy, the property boasts strong fundamentals and significant upside potential. Recent renovations, completed since 2018, include upgraded common areas featuring a new lobby with a Swiftlane smart entry system, a modernized mail area, and a new package room. Furthermore, 21 units have undergone recent renovations, resulting in an average rent premium of $338 (17.1%) for 2024 new move-ins. This market-rate, non-deed-restricted community offers a rare chance to acquire a well-maintained asset with proven organic rent growth and substantial value-add potential in a highly desirable Boston location. The property is a single building with 38 apartment homes. This is a rare opportunity to acquire a well-positioned multifamily asset in a thriving Boston neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $6,273,070

  6.5%

  $5,790,530

  7%

  $5,376,920

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,435,330

  Geo Method

  $4,435,330

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $11,332,500

  Retail / Commercial

  $5,811,240

  Hospitality / Lodging

  $4,248,320

  Office

  $5,756,120

  Institutional / Educational

  $6,019,810

  Residential Income

  $7,043,180

  Multifamily

  $8,447,210

  Automotive / Energy

  $5,159,840

  Parking / Income-Based Land

  $1,780,600

  Restaurant / Food Service

  $3,011,700

  Healthcare / Senior Housing

  $5,938,080

Location Insight

City

Mattapan

County

Suffolk

State

Massachusetts

Latitude

42.2709

Longitude

-71.1006

CBSA code

14460

CBSA name

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

Property Tax & Assessments

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