29-35 Temple Place Active

Boston,MA 02110

$ 30000000

42 Beds

32 Baths

26600 SqFt


Key Details

Property Type Multi-Family

Sub Type 5+ Family - Rooming House

Listing Status Active

Purchase Type For Sale

Square Footage 26,600 sqft

Price per Sqft $1,127

MLS Listing ID 73296327

Bedrooms 42

Full Baths 32

Year Built 1895

Annual Tax Amount $9

Tax Year 9999

Lot Size 4,791 Sqft

Property Description

Presenting 29-35 Temple Place (“Temple Place Suites”), which is a 26,600 square foot, 6-story, mixed-use (residential over retail), elevator building, located in the heart of downtown Boston (just feet from Boston Common). Temple Place Suites Suites is designated with a Lodging License for 48 units (although the building is currently configured with only 42), and the current owner operates the residential portion (floors 2 through 6) as short-term, furnished, Airbnb style, rentals. There is a significant Value-Add Opportunity for the next owner to grow revenue by: (i) increasing the room count up to the permitted 48 units (this alone represents a 14.3% increase), (ii) increasing the average unit rental rate which is significantly below market, and (iii) potential additional density increase (current FAR is 8.0). The commercial portion of the building (floors 1 and basement) is fully occupied by one tenant (a micro-brewery, restaurant, and taproom). Apartment furnishings are included.

Location

State MA

County Suffolk

Zoning 9

Interior

Fireplaces Number 18

Exterior

Roof Type Rubber

Building

Lot Description Other

Story 18

Foundation Concrete Perimeter,Slab

Sewer Public Sewer

Water Public

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