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INVESTMENT HIGHLIGHTS
DESIRABLE ASSETS WITH UPSIDE POTENTIAL: the Maverick multi-family investment portfolio is located at 125-129 Arlington Street, 36-40 Orange Street, 93-95 Orange Street, and 827-835 Broadway 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. The opportunity exists to acquire a substantial portfolio of apartments in a continuously growing, high demand real estate market that offers significant upside. 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.
DESIRABLE BEDROOM COUNTS: The Maverick Portfolio is comprised of four (4) multi-family properties and contains forty-four (44) residential units comprised of five (5), 3-Bedroom/1-Bathroom units, nine (9), 2-Bedroom/1-Bathroom units, twenty-four (24) 1-Bedroom/1-Bathroom units, and six (6) Studio units with 28,836 square feet of living area in 42,214 total square feet on a combined 0.52-acres of land. Each of the Properties has an on-site laundry facility, and 827-835 Broadway offers four (4), on-site parking spaces.
STRONG & GENTRIFYING MARKET: Chelsea is primarily an urban-infill, supply-constrained market consisting of many smaller, densely populated residential and commercial lots. Chelsea is the second most densely populated city in Massachusetts. Over the last several years the area has continued to gentrify due to its proximity to mass transit, highways, and downtown Boston. High-end development has begun to pervade the area with the development of projects like the Encore Boston Harbor Resort & Casino and 932 Broadway, a luxury condominium development that has finished its “sell-out”.
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