Boston MA Multi Family for Sale
$30,000,000
29-35 Temple Place Unit 29-35 Boston, MA 02110
- Type:
- Multi-Family
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- 42
- Lot size:
- 0.11 Acres
- Year built:
- 1895
- Baths:
- 32.00
- MLS#:
- 73296327
ADDITIONAL INFORMATION
Presenting 29-35 Temple Place (“Temple Place Suites”), which is a 26,600 square foot, 6-story, mixed-use (residential over retail), elevator building, located in the heart of downtown Boston (just feet from Boston Common). Temple Place Suites Suites is designated with a Lodging License for 48 units (although the building is currently configured with only 42), and the current owner operates the residential portion (floors 2 through 6) as short-term, furnished, Airbnb style, rentals. There is a significant Value-Add Opportunity for the next owner to grow revenue by: (i) increasing the room count up to the permitted 48 units (this alone represents a 14.3% increase), (ii) increasing the average unit rental rate which is significantly below market, and (iii) potential additional density increase (current FAR is 8.0). The commercial portion of the building (floors 1 and basement) is fully occupied by one tenant (a micro-brewery, restaurant, and taproom). Apartment furnishings are included.
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Boston Real Estate
The median home value in Boston, MA is $656,500. This is higher than the county median home value of $637,000. The national median home value is $338,100. The average price of homes sold in Boston, MA is $656,500. Approximately 31.48% of Boston homes are owned, compared to 59.04% rented, while 9.48% are vacant. Boston real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Boston real estate agent to arrange a tour today!
Boston, Massachusetts 02110 has a population of 672,814. Boston 02110 is less family-centric than the surrounding county with 20.53% of the households containing married families with children. The county average for households married with children is 23.74%.
The median household income in Boston, Massachusetts 02110 is $81,744. The median household income for the surrounding county is $80,260 compared to the national median of $69,021. The median age of people living in Boston 02110 is 32.6 years.
Boston Weather
The average high temperature in July is 82.4 degrees, with an average low temperature in January of 19.2 degrees. The average rainfall is approximately 47.4 inches per year, with 48.1 inches of snow per year.