Sunday is open house day in downtown Boston, with currently more than 300 open houses scheduled for Sunday, February 28, 2010. As we approach Spring, and who would think it with the cold and wet weather, market activity is starting to heat up. Two open houses that may be worth checking out on Sunday include a small studio investment property at 50 Charlesgate on the border of the Back Bay and the Fenway, and a move-in ready condo in a new redeveloped building at 655 Tremont Street in the heart of the South End.
Boston Investment Property at 50 Charlesgate
If you’re searching for a low-priced way to get into the downtown Boston investment property arena, and would be comfortable with an approximate 3% return on your equity investment, unit 200 at 50 Charlesgate, a 210-unit condo development, may be of interest. The 240 square foot studio apartment is currently rented for $1,100 per month, and is listed for $195,000 – this should be an all cash transaction, the pro forma does not make a lot of sense if any significant amount of debt service is carried in the transaction. The unit will be held open on Sunday, February 28, 2010 from 11:30 AM to 12:30 PM.
South End Boston Open House at 655 Tremont Street
In the heart of the South End, 655 Tremont Street is a 10-unit redevelopment of an existing building, and will house two commercial spaces on the ground floor. With a common roofdeck offering excellent Boston skyline views, unit 4, a 575 square foot one-bedroom one-bathroom corner unit condo listed at $424,900 is move-in ready and puts you in a “new building” with a lot of “old building” neighborhood charm. Unit 4 at 655 Tremont Street will be held open on Sunday, February 28, 2010 from 1:00 PM to 2:00 PM.
Keith Munsell 
