2 Waumbeck StBoston, MA 02121

Property Details for 2 Waumbeck St

Year built

1899

Construction

FRAME

Lot size

0.18 AC

Property size (Sq ft)

5,805 SF

Zone code

RC

Property type

Investment properties

Property subtype

Live-work space

APN

ROXB W:12 P:02099 S:000

APU

ROXBW12P02099S000

Description

This exceptional mixed-use property, situated at 2 Waumbeck Street in Boston, MA, presents a unique investment opportunity. Spanning 0.18 acres, this five-unit building sits conveniently on the Dorchester/Roxbury line, a highly sought-after location. The ground floor currently boasts a sizable office space, complete with high ceilings, multiple work areas, and two bathrooms, offering immediate income potential. The upper floors comprise three two-bedroom, one-bathroom residential units of varying sizes, and one larger three-bedroom, one-bathroom unit. While these residential units could benefit from some modernization, this presents a chance to increase rental income significantly. Importantly, the property already has approved plans for a substantial expansion and conversion. These plans detail the creation of six three-bedroom, one-bathroom residential units, along with a basement office space, dramatically increasing the property's rental yield. The approved expansion also includes a roof raise to the third floor, allowing for the creation of additional living space. This makes the property ideally suited for conversion into a high-performing multi-family building or even a condominium project. Adding to its appeal, the property includes ample parking and a heated driveway, providing year-round convenience for tenants and residents. This is a rare chance to acquire a property with approved plans for significant expansion in a high-demand Boston neighborhood. The combination of existing income potential and the approved expansion plans makes this an attractive proposition for both investors and developers seeking a high-return investment.

• CAP approach

  CAP return

  Valuation

  6%

  $959,740

  6.5%

  $885,914

  7%

  $822,634

• Comparable approach

  Method

  Valuation

  Relative Method

  $758,481

  Geo Method

  $758,481

• Alternative Use

  Use

  Valuation

  Residential

  $1,098,533

  Hospitality

  $1,006,250

  Educational

  $837,188

  Medical

  $865,981

  Retail

  $1,302,293

Location Insight

City

Dorchester

County

Suffolk

State

Massachusetts

Latitude

42.3132

Longitude

-71.0841

CBSA code

14460

CBSA name

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

Property Tax & Assessments

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