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Desiree Taylor

dtaylor@desiredhomes.org +1(978) 269-7185

$ 1,500,000

Est. payment | -/mo

8 Beds

6 Baths

3,278 SqFt

Save Virtual Tour

$ 1,500,000

Est. payment | -/mo

Save Virtual Tour

8 Beds

6 Baths

3,278 SqFt

Open House

Thu Oct 08, 10:30am - 11:30am

Sat Oct 10, 1:30pm - 3:30pm

Key Details

Property Type Multi-Family

Sub Type 3 Family - 3 Units Up/Down

Listing Status Active

Purchase Type For Sale

Square Footage 3,278 sqft

Price per Sqft $457

MLS Listing ID 73587007

Bedrooms 8

Full Baths 6

Year Built 2006

Annual Tax Amount $17,059

Tax Year 2027

Lot Size 3,484 Sqft

Acres 0.08

Property Sub-Type 3 Family - 3 Units Up/Down

Property Description

Fully tenanted, cash-flowing and just three blocks from the Stony Brook T, this three-family built in 2006 offers a standout investment in one of Jamaica Plain's best locations. Offering three spacious residences and four off-street parking spaces, 164 Boylston combines the benefits of newer construction with meaningful future upside to increase cash flow. The unit mix includes one 2-bedroom, 2-bath residence and two 3-bedroom, 2-bath residences. Each features a primary bath, granite countertops, stainless steel appliances, central air, in-unit laundry, and separately metered heat, hot water and electricity. The second and third floor residences each enjoy a private rear balcony, while the first-floor unit is wheelchair accessible. Additional amenities include three large private basement storage rooms, individual power-vented hot water tanks and a building-wide sprinkler system. Fully tenanted, the property currently generates $10,375 per month and $124,500 annually in gross rental income. Current rents are below market rent, providing an opportunity to increase income over time while the property is already producing positive cash flow at today's rents. Projected rents for the 2027/2028 rental cycle total $11,700 per month and $140,400 annually, representing approximately $15,900 in additional annual gross rental income as leases turn over. The location also offers convenient access to the Longwood Medical Area, one of Boston's major employment and education centers. Closer to home, residents enjoy easy access to the Orange Line, Southwest Corridor, Café Ula, Chilacates, Mike's Fitness, the Sam Adams Brewery, Jamaica Pond, Franklin Park and Jamaica Plain's extensive collection of restaurants, shops and neighborhood amenities. A compelling opportunity to acquire a turnkey, cash-flowing multifamily property with parking, modern systems, strong in-place income and meaningful long-term upside in one of Boston's most established rental markets.

Location

State MA

County Suffolk

Area Jamaica Plain

Zoning RES

Direction Use GPS

Rooms

Basement Full, Finished, Concrete

Interior

Flooring Tile, Hardwood

Exterior

Fence Fenced/Enclosed

Community Features Public Transportation, Shopping, Park, Walk/Jog Trails, Bike Path, T-Station

Total Parking Spaces 4

Garage No

Building

Lot Description Cleared

Story 3

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public

Others

Senior Community false

Virtual Tour https://my.matterport.com/show/?m=5h43YGua8TJ

Listed by Compass

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(978) 269-7185

dtaylor@desiredhomes.org

PO BOX 263, Salem, Massachusetts 01970, United States

164 Boylston Street Boston, MA 02130