East Boston Portfolio

East Boston Portfolio is a combination of leased, vacant and value add waterfront parcel's primed and ready for development. 6 Properties in total ranging from a vacant car lot perfect for 8-12 family re-development, a vacant commercial building, a tenanted two-family and a 3/4 acre leased development site. All of the properties are aggregated on the same street across two city blocks. A great opportunity to buy up multiple properties on a contiguous block.

Property #1: Sale Price: $1,950,000 – SOLD
Status:
Cash Flow Positive / 5% Cap Rate / Opportunity to Develop 30+ Waterfront Units
Location:
28 Glendon, 245 Condor Street, 255 Condor Street
Details:
Land: 24,375 Sq.Ft or (1/2 acre)
Blding: 7,000 +/- sq.ft
Assessed Value: $518,000
Land Use: {C} Commercial

Property Brochure

28 Glendon
Land: 7,500 Sq.Ft
Blding: 1700 sq.ft
Assessed Value: $159,389
Land Use: {C} Commercial

245 Condor Street
Land: 8,225 Sq.Ft
Blding: 1800 sq.ft
Assessed Value: $174,773
Land Use: {C} Commercial

255 Condor Street
Land: 8,650 Sq.Ft
Blding: 4240 sq.ft
Assessed Value: $183,838
Land Use: {C} Commercial

Property #2: Sale Price: $375,000
Addresses: 211 Condor Street – PERMITTED AND SOLD
Status: Open Car Lot / Ready for Development
Assessed Value: $124,900
6562 sq.ft – Lot Size
Parcel ID: 0103319000
Current Use: Vacant Land / Old Car Storage / Misc. Open Garages

Property Brochure

Property #3: Sale Price: $499,000 – SOLD
Status: Two Family / Tenanted below market as TAW
Addresses: 2 Putnam Street
Assessed Value: $154,100
1562 sq.ft – Lot Size
2,256 sq.ft – Living Size
Parcel ID: 0103314000
Current Use: Two Family / {R2}

Value Based on Rent Roll: (actual vs. market)
Unit 1: $1250 / $1500 market (would need some work)
Unit 2: $1350 / $1600 market (would need some work)
Total: $2600
Approx Net: Mo and Year = 2100 or $25,200
(6% Cap) $420,000 / $600k once fixed up and getting market rates

Property Brochure

Property #4: Sale Price: $375,000 – PERMITTED AND SOLD
Addresses: 187 Condor Street
Status: Empty Commercial Building / Ready for Development
Assessed Value: $227,500
4367 sq.ft – Lot Size
2,315 sq.ft – Living Size
Parcel ID: 0103375000
Current Use: Commercial / {C}

Property Brochure

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