148 Park & Pearl St, Chelsea, MA 02150 - MLS#73281006

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Adam Gustafson

adam@todayrealestate.com +1(781) 696-3049

$8,100,000

Est. payment - /mo

55 Beds

30 Baths

24,219 SqFt

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UPDATED:

10/15/2024 01:01 PM

Key Details

Property Type Multi-Family

Sub Type 5+ Family - 5+ Units Side by Side

Listing Status Pending

Purchase Type For Sale

Square Footage 24,219 sqft

Price per Sqft $334

MLS Listing ID 73281006

Bedrooms 55

Full Baths 30

Year Built 1900

Annual Tax Amount $77,895

Tax Year 2024

Lot Size 10,454 Sqft

Acres 0.24

Property Description

The Park & Pearl Portfolio is comprised of 3 multi-family buildings and contains 30 residential units comprised of (4) 3-Bedroom/1-Bathroom units, (17) 2-Bedroom/1-Bathroom units, and (9) 1-Bedroom/1-Bathroom units. Since acquisition of the assets in 2017 & 2021, current ownership has completed numerous capital upgrades including a majority of units featuring new, Navien tankless systems for individual heat and hot water (gas) as well as some upgrades to the unit’s interiors. 148 Park Street/155 Pearl St contains (7) 2-Bedroom/1-Bathroom units and (5) 1-Bedroom/1-Bathroom units. 156-160 Park Street contains (4) 3-Bedroom/1-Bathroom units, (4) 2-Bedroom/1-Bathroom units, and (1) 1-Bedroom/1-Bathroom unit. 161-165 Park Street contains (6) 2-Bedroom/1-Bathroom units and (3) 1-Bedroom/1-Bathroom units. Through programmatic renovations to the assets, the opportunity exists to substantially raise market rents in a high demand, up-and-coming rental sub-market.

Location

State MA

County Suffolk

Zoning R2

Direction Multiple Buildings, Please Use GPS

Exterior

Community Features Public Transportation, Shopping, Pool, Tennis Court(s), Park, Medical Facility, Laundromat, Highway Access, House of Worship, Marina, Private School, Public School, T-Station

Waterfront false

Roof Type Rubber

Parking Type Paved Drive

Garage No

Building

Story 3

Foundation Other

Sewer Public Sewer

Water Public

Others

Senior Community false

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Listed by Horvath & Tremblay

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Adam Gustafson

+1(781) 696-3049

Broker Manager | License ID: 9565668

Broker Manager License ID: 9565668

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