17 Winter Street is a generational asset that has been under one ownership for the last 40 years with an excellent occupancy history. Additionally, due to the hands-on management style of ownership, the asset has been kept in fantastic condition. The 4-story brick, building consists of 28 total units (9 units per floor plus 1 ground floor unit) with an attractive unit mix.
INVESTMENT STRATEGY OR VALUE-ADD POTENTIAL
The Property has performed well through various market cycles due to its core location within one the of top real estate markets in New England. Through programmatic upgrades to the units, the opportunity exists to increase the rental rates and gross income to the asset. Additionally, there are (3) on site offices in the first floor of the property (not included in the unit count). The potential opportunity exists to increase the unit counts in the property, combine the space with the apartments above, utilize the office space for management or add an on-site fitness facility and/or amenity room for tenants.
ATTRACTIVE WALKABLE LOCATION
The Property is very well-located in vibrant Watertown Square, the primary commercial district in Watertown, Massachusetts. Over 33,000 people live within a mile radius of the Property, drawn by the proximity to Boston, major highways, public transportation and the numerous walkable shopping, dining, entertainment and recreation options.
SUPERIOR MARKET
Watertown consistently rates as one of the top rental markets in the Greater Boston area due to its attractive high-density neighborhoods, quality-of-life amenities, public school system, public transportation access and proximity to Boston, Cambridge, Harvard University, Bentley University, The Mass Pike (I-90), The Route 128 Technology Corridor and Soldiers Field Road/Storrow Drive.
Information concerning the property described herein has been obtained from sources other than Horvath & Tremblay and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information.
