25 Melrose Street, Boston MA

25 Melrose Street Boston

Who We Are 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.

William Senné

President and Chief Executive Officer

Britany Caruso

Director 617.669.1069 bcaruso@sennere.com

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.

Moises Martinez

Director 617.658.3989 mmartinez@sennere.com

Jacob King

Manager 413.214.1947 jking@sennere.com

The William Senné Team WST@sennere.com I 617.934.7313

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.

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

4

3

Residential Units PROPERTY DETAILS

One Bedrooms

1

Studio

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

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.

Rent Roll DETAILS

# OF BEDS

# OF BATHS

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

CURRENT

LEASE EXP

$11,090

Income & Expenses INCOME

CURRENT

PER UNIT

Residential Rent

$133,980

$33,495

Gross Potential Rent

$146,280

$36,570

($4,388)

($1,097)

$141,892

$35,473

CURRENT

PER UNIT

$0

$0

Real Estate Taxes

$9,049

$2,262

Insurance

$2,433

$608

$1,681

$420

Common Electric

$138

$34

Gas

$549

$137

$3,076

$769

$16,926

$4,231

$124,966

$31,241

Vacancy (3%) EFFECTIVE GROSS REVENUE EXPENSES Management

Water/Sewer

Repair & Maintenance TOTAL NET OPERATING INCOME

25 Melrose Street Unit B - Studio

$2,870 Monthly Rent

Bedrooms

0

Bathrooms

1

Lease Dates

Aug 1, 2022 - Aug 31, 2023

25 Melrose Street Unit 1 - 1 Bedroom

$3,320 Monthly Rent

Bedrooms

1

Bathrooms

1

Lease Dates

Aug 1, 2022 - Aug 31, 2023

25 Melrose Street

Unit 2 - 1 Bedroom with Balcony

$2,400 Monthly Rent

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

Overhead View

25 Melrose Street

25 MELROSE ST

Charles River Esplanade

Location Map Boston Common

Public Garden Back Bay

Expressway Route 93

L ME

S RO

E TR S E

25 MELROSE ST

ET

25 DI NG LE

CHU

Y

Mass Pike Route 90

PL E AC

RCH

Copley Place

E STR ET

Site Plan

YE FA

E TT

South End

ST

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

Greater Boston 1 MILE

3 MILES

5 MILES

BOSTON

POPULATION 2022 Estimate

85,350

497,317

958,374

4,327,000

2027 Projection

86,883

501,275

962,560

4,464,000

2010 Census

67,332

434,163

865,354

4,185,000

2021 Est. Total Businesses

20,806

49,496

68,654

179,456

2022 Est. Total Employees

302,554

660,870

826,249

3,390,833

2022 Estimate

43,843

211,614

394,702

1,870,168

2027 Projection

44,666

213,458

396,489

1,920,300

2022 Average Household Income

$154,211

$121,132

$116,692

$107,608

2022 Median Household Income

$126,081

$88,322

$86,960

$108,133

BUSINESS

HOUSEHOLDS

INCOME