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INVESTMENT HIGHLIGHTS
THE ASSET: Horvath & Tremblay is pleased to present the exclusive sale of the Park & Pearl multi-family investment portfolio located at 148 & 156-160 Park Street and 161-165 Pearl Street in Chelsea, Massachusetts (the “Portfolio” or “Properties”). The well-maintained Portfolio is located seconds from Route 1, providing immediate access to the Tobin Bridge and Downtown Boston. With the majority of in place rents on a tenant at will basis, the opportunity exists to acquire an asset in a continuously growing, high demand real estate market that offers significant upside.
DESIRABLE BEDROOM COUNTS: The Park & Pearl Portfolio is comprised of three (3) multi-family buildings and contains thirty (30) residential units comprised of four (4), 3-Bedroom/1-Bathroom units, seventeen (17), 2-Bedroom/1-Bathroom units, and nine (9) 1-Bedroom/1-Bathroom units with 24,219 square feet of living area in 33,797 total square feet on a combined 0.24-acres of land.
VALUE ADD POTENTIAL: The in-place rents are significantly below market rates and the opportunity exists to drive rental rates through programmatic upgrades and renovations to the kitchens and bathrooms in the unrenovated units, allowing the incoming owner to maximize rents in a supply constrained market.
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