Calling all Boston investment property owners, I’d like to introduce you to a well maintained, solid income producing building with ideal location between Green & Orange subway T line access at 1451 Tremont Street in Boston’s Mission Hill neighborhood.
The five apartments and one business unit (basement) are leased, with current annual net operating income of $133,700, listed at $1,578,000, which represents a going in capitalization rate of approximately 8.5%.
Close to Northeastern University, Wentworth College, Massachusetts College of Pharmacy, and Longwood Medical Area. The building houses 25 rooms, 11 bedrooms, and 6.5 baths. There is a Laundromat conveniently located across street.
Current property financials include:
Gross Income: $147,000 (increasing to $157,800 on September, 1, 2010)
Gross Expenses: $13,300
Net Income: $133,700
Due to multiple current tenants, first showings will include a representative sample of apartments, plus the business. Second showings will be of the entire building. Private showings available by appointment with 48 hour notice: Tuesdays & Thursdays from 10:00 AM to 6:00 PM; Saturdays from Noon to 5:00 PM.
Keith Munsell 
