25 Melrose Street, Boston MA

25 Melrose Street Boston

William Senné

President and Chief Executive Officer

Britany Caruso Director 617.669.1069 bcaruso@sennere.com

Senné is comprised of 150+ practitioners of finance, property management, marketing, construction, design, residential and commercial brokerage, and planning, all working together to raise the bar on client satisfaction.

Our unique composition enables us to offer elevated advisory services with a broader perspective on the real estate market for our clients and partners to ensure their dreams are our goals.

Senné is committed to the simple idea that excellence and positive human interaction are not mutually exclusive. This belief informs the real estate work that we do and our service to the communities we serve. We never rest. Quality is paramount to us, and it shines through in everything we do. We reject the concept of one size fits all and embrace the unique diversity of opportunities and challenges that each client brings us.

Drawing on the collective experience of our development, construction, and brokerage teams, Senné offers curated specialty services for real estate developers, institutions and investors. With experience developing and building in excess of $2 billion worth of real estate investments nationally, we pay special attention to every detail to bring excellence and success to market.

The team takes a multidisciplinary approach fostering flexible and entrepreneurial solutions that are at the core of the Senné mission.

Jacob King Manager 413.214.1947 jking@sennere.com

DISCLAIMER: Senné Commercial, LLC has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than Senné Commercial, LLC and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.

The William Senné Team WST@sennere.com I 617.934.7313

Moises Martinez Director 617.658.3989 mmartinez@sennere.com Who We Are

Investment Summary 25 Melrose Street List Price $2,250,000 Net Operating Income $117,054 Cap Rate 5.2% Price Per Unit $562,500 Price Per Square Foot $900 PROPERTY DETAILS BUILDING UTILITIES Property Address 25 Melrose Street, Boston MA 02116 Heating Gas/Electric Landlord Responsible Number of Units 4 UNITS Hot Water Gas Landlord Responsible Year Built 1900 Electric Separately Metered Tenant Responsible Land Area 901 SQ FT Water City of Boston Landlord Responsible Gross Living Area 2500 SQ FT Sewer City of Boston Landlord Responsible BUILDING CONSTRUCTION Exterior Brick Roof Rubber 4 Residential Units 3 One Bedrooms 1 Studio

Property Highlights

25 Melrose Street

Senné is pleased to present the exclusive opportunity to purchase this impressive 4-family opportunity uniquely positioned between Boston Common, South End and The Copley Plaza in Historic Bay Village. The fully occupied brick row house features three 1-bedroom and one studio apartments with opportunity for rent increases and additional development. The first and lower level units have been newly renovated with modern kitchens and baths, featuring stainless steel appliances, contemporary cabinetry, tiled flooring, fresh paint, new wood flooring, recessed lighting, mini split systems, and inunit laundry. The second and third floor 1-bedroom units are well maintained with spacious bedrooms and living spaces, hardwood floors, natural light, wood deck and detailed finishes. 25 Melrose boasts an impressive leasing history and all units are leased through August 31st, 2023. Heat and hot water are centralized and included in rent, electricity is separately metered. This is an incredible multi family investment opportunity in the Boston market

VALUE-ADD POTENTIAL

The property has below-market residential rents; the opportunity exists to increase residential rents to market rates in a highly soughtafter, supply-constrained residential market increasing the income of the Properties. Potential opportunity through zoning to add addition to the existing structure.

STRATEGIC LOCATION

The property has a convenient location near Back Bay, the Charles River, easy access to Tufts New England Medical Center, Back Bay and Arlington MBTA stops, Mass Turnpike and I-93.

WALKABLE LOCATION

Located in the heart of Downtown Boston, the property provides convenient access to the Downtown Boston businesses and employers, restaurants, bars, cultural and entertainment venues, and the Boston Common and Public Garden.

INCOME CURRENT PER UNIT Residential Rent $133,980 $33,495 Gross Potential Rent $146,280 $36,570 Vacancy (3%) ($4,388) ($1,097) EFFECTIVE GROSS REVENUE $141,892 $35,473 EXPENSES CURRENT PER UNIT Management $0 $0 Real Estate Taxes $9,049 $2,262 Insurance $2,433 $608 Water/Sewer $1,681 $420 Common Electric $138 $34 Gas $549 $137 Repair & Maintenance $3,076 $769 TOTAL $16,926 $4,231 NET OPERATING INCOME $124,966 $31,241 DETAILS # OF BEDS # OF BATHS CURRENT LEASE EXP Unit B 0 1 $2,870 8/31/23 Unit 1 1 1 $3,320 8/31/23 Unit 2 1 1 $2,400 8/31/23 Unit 3 1 1 $2,500 8/31/23 Total $11,090 Rent Roll Income & Expenses

Bedrooms 0 Bathrooms 1 Lease Dates Aug 1, 2022 - Aug 31, 2023 $2,870 Monthly Rent 25 Melrose Street Unit B - Studio

25 Melrose Street Unit 1 - 1 Bedroom $3,320 Monthly Rent Bedrooms 1 Bathrooms 1 Lease Dates Aug 1, 2022 - Aug 31, 2023

$2,400 Monthly Rent 25 Melrose Street Unit 2 - 1 Bedroom with Balcony Bedrooms 1 Bathrooms 1 Lease Dates Sep 1, 2021 - Aug 31, 2023

25 Melrose Street Unit 3 - 1 Bedroom $2,500 Monthly Rent Bedrooms 1 Bathrooms 1 Lease Dates Jun 1, 2022 - Aug 31, 2023

25 Melrose Street Overhead View 25 MELROSE ST

Location Map

Mass Pike Route 90 25 MELROSE ST Expressway Route 93 South End

Bay Public Garden Boston Common MELROSESTREET 25 FAYETTEST DINGLEYPLACECHURCH STREET Site Plan

Charles River Esplanade

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Location Overview Bay Village

With only 12 square blocks and about 700 residents, historic Bay Village is the smallest of all “officially recognized” Boston neighborhoods. If you discover this hidden community of charming Federal row houses and Art Deco film warehouses-turned-condos, you’ll experience Boston from an earlier time - plus you’ll have the thrill of discovering one of the city’s special hidden enclaves.

Located just a block (or two, depending on how you count) south of the Public Garden, Bay Village is next to the Theatre District. With easy access to excellent restaurants, cultural events and shows, and downtown Boston, Bay Village’s location is hard to beat.

Bay Village residents love their neighborhood because of its friendliness, convenient location, and the eclectic mix of singles, couples, families with children, students, and professionals who live here.

You may love Bay Village because of its tranquility. Once you enter its quiet streets, the buzz of city noise fades away. You are in another world. Aside from a small handful of restaurants and local businesses along its outer edges, Bay Village is a collection of homes. The neighborhood truly feels like a small village. Sit on a bench in one of its small parks . . . listen to the birds sing . . . enjoy a peaceful moment.

Source: Boston Discovery Guide: https://www.boston-discovery-guide.com/bay-village.html