281-285 WEST 3RD
6-Unit Multifamily Offering / South Boston, Massachusetts
Boston Realty Advisors is pleased to present the opportunity to acquire 281-285 W Third Street, an exceptional multifamily building located in the vibrant South Boston neighborhood in Boston, Massachusetts. The offering is currently a collection of (6) residential units amongst ±5,400 gross square feet. 281-285 W Third offers investors the opportunity to own irreplaceable real estate in a high-barrier to entry market.
South Boston is considered to be at the epicenter of development and an increasingly sought after destination due to its authentic community, plethora of amenities, and overall proximity to surrounding areas. With over 8.9 million square feet of mixed-use development completed and 6.4 million square feet board approved or under construction, the renovation of South Boston and the Seaport is well underway. The rapidly expanding infrastructure combined with infusion of neighborhood amenities is attracting a strong residential and commercial base. 281-285 W Third Street is uniquely positioned for long-term upside from the continued development in the immediate vicinity and the Innovation District.
281-285 W Third Street represents a unique opportunity to purchase high quality real estate in a desirable market with substantial value-add potential. 281-285 W Third Street is offered for sale on an unpriced basis. We will be conducting
tours of the property in the upcoming weeks with a “call-for-offers” to follow.
STRONG MARKET DYNAMICS
With condominium prices exceeding $1,000/SF for new product and rental rates exceeding $5/SF, South Boston continues to show strong demand for new housing stock. Along with the continuous increase in real estate prices, South Boston is a haven for successful young professionals and families.
Current low in-place rents offer upside potential. Light in-unit, common area and exterior renovations will allow new ownership to increase rents and maintain the strong tenant base. Condo conversion is another value-add alternative that investors could benefit from.
SUPERIOR AREA AMENITIES
South Boston offers an array of walking accessible amenities, including restaurants/bars, parks and the beach. Furthermore, just a short walk from the newly developed Seaport district
the residents at 281-285 W Third Street benefit from all the amenities the area has to offer.
STRONG DEVELOPMENT PIPELINE
More than $20 billion in public and private investments
have fueled over 8.9 million square feet of completed development with an additional 6.4 million square feet
under construction or slated for future development.
Jason s. Weissman
Founder & Senior Partner
Nicholas m. Herz
Managing Director & Partner
ANDREW B. Herald