Three-Building Brownstone Apartment Portfolio for Sale in Boston

Wednesday, November 28, 2018

Holliday Fenoglio Fowler, L.P. (HFF), on behalf of the owner, is marketing for sale the Williams Street Portfolio, a three-building, nine-unit rental portfolio of brownstones in the Lower Roxbury neighborhood of Boston. In addition to the rental units, the portfolio also includes a two-unit development site totaling 4,000 square feet. The newly renovated portfolio lies just east of Northeastern University, within walking distance of both the Orange line and Commuter Rail stations and has easy access to the Interstate 93 on-ramp. The sale represents an extraordinary opportunity to invest in a unique product ideally located between Boston’s excellent intermodal public transportation lines near some of the city’s largest employment, education and entertainment hubs including, Longwood Medical Area, Northeastern University, the South End and Fenway Park.

There’s been significant spillover of college students from Mission Hill and the Fenway in recent years, and Roxbury has become increasingly popular with young professionals and families who are attracted to the neighborhood’s diversity, exquisite array of architectural history and price tags slightly less painful than in other areas of the city. Roxbury is filled with lush community gardens and bustling green spaces like Malcolm X Park, where summer basketball tournaments are veritable family reunions, and Highland Park, with its landmark Fort Hill Tower surrounded by weeping willow trees.

Multi-Housing Properties for Sale Investment Highlights

  • Irreplaceable Assets:  The southern end of Boston is most famous for its rows of Victorian Brownstones – considered one of the best-preserved examples of 19th-century urban design in the United States. The Williams Street Portfolio offers investors a rare opportunity to purchase three, three-story brownstones that have been carefully renovated and maintained. These assets are truly irreplaceable.
  • Unrivaled Access:  With convenient access to the Orange Line, Green Line, Silver Line and Commuter Rail, the multi-housing portfolio for sale is accessible to all that the city of Boston has to offer. The Williams Street Portfolio benefits from significant demand drivers in the area including employment, universities, transportation and entertainment.
  • Premium Product:  The Williams Street Portfolio intricately blends the old and the new. It has all the modern amenities today’s renters are looking for while maintaining the charm of Boston’s historic brownstones. The apartments offer distinctive floor plans with modern finishes, providing renters the best of downtown Boston living at a discount.
  • Infill Location:  The apartment portfolio for sale is in Lower Roxbury, a rapidly gentrifying extension of Boston’s South End neighborhood, which is known as the cultural hub of Boston with a variety of award-winning restaurants, markets and bars. Micro-markets such as these are considered historic throughout Boston. As the city continues to expand outwards due to rent growth from the core, Lower Roxbury is likely to see significant rent and sales growth – particularly Victorian Brownstones, which cannot be replicated through modern construction.

The Williams Street Portfolio is being offered on a free and clear basis, offering investors stabilized cash yields as well as development potential in one of Boston’s quickly evolving submarkets. To learn more about these apartment properties for sale or other commercial real estate listings in and around Boston and the Northeast, please contact Adam DunnMichael Restivo or Kellie Coveney in HFF’s Boston office. To view HFF’s current real estate investment sales listings, please click here.

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