227 Broadway | Chelsea, MA 02150
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- LoopNet Team
227 Broadway
Chelsea, MA 02150
The Exchange Building · Multifamily Property For Sale · 11 Units
Investment Highlights
- Project based section 8 HAP contracts run through May 2032. Stable tenant base with up to 100% of rent subsidized.
- Average tenant turnover has been less than 5% per year (less than 1 unit per year) over the last 20 years.
- Additional income from parking spaces and laundry. Locked, walled storage space for each tenant.
- Annual rent increases per HUD. 2020 Boston area HUD OCAF increase of 3.2% was highest in all but two states.
- Heart of downtown Chelsea, walking distance to Commuter Rail and multiple bus stops, connecting to Boston, Logan Airport, surrounding communities
- Well maintained property. Separately metered utilities. Landlord provides water/sewer only.
PROPERTY FACTS
| No. Units | 11 | Lot Size | 0.06 AC |
| Property Type | Multifamily | Building Size | 8,968 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Garden | No. Stories | 4 |
| Building Class | C | Year Built/Renovated | 1900/1980 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 8,968 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1900/1980 |
Site Amenities
- Laundry Facilities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | $1,806 | 825 |
| 1+1 | 6 | $1,540 | 650 |
PROPERTY TAXES
| Parcel Number | CHEL-000019-000000-000103 | Improvements Assessment | $2,311,500 |
| Land Assessment | $180,200 | Total Assessment | $2,491,700 |
PROPERTY TAXES
Parcel Number
CHEL-000019-000000-000103
Land Assessment
$180,200
Improvements Assessment
$2,311,500
Total Assessment
$2,491,700
zoning
| Zoning Code | BR |
| BR |
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