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127 Newbury Street consists of a three-story building containing five (5) residential units comprised of three (3), 2-Bedroom/1-Bathroom units and two (2), 1-Bedroom/1-Bathroom units with 4,317 square feet of living area in 6,009 total gross square feet and is situated on a 0.17-acre parcel of land with off-street parking available to tenants. Utilities are separately metered for electricity, heat, and hot water which the tenants pay directly. Unit 1 (2 bed/1 bath) recently became vacant, the Property offers a 8.07 current cap rate and in-place rents are significantly below the current market rates. The opportunity exists to increase income via programmatic updates to the unrenovated units, common areas and exteriors to drive rental rates in a high demand/supply-constrained residential market.
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Listing provided by Jason Kulik, Horvath & Tremblay
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