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45 Thorndike Boston, MA 02118
8 Beds
3 Baths
2,628 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 3 Family - 3 Units Up/Down
Listing Status Active
Purchase Type For Sale
Square Footage 2,628 sqft
Price per Sqft $494
MLS Listing ID 73594957
Bedrooms 8
Full Baths 3
Year Built 1900
Annual Tax Amount $10,149
Tax Year 2027
Lot Size 1,306 Sqft
Acres 0.03
Property Sub-Type 3 Family - 3 Units Up/Down
Property Description
RARE BELOW MARKET OPPORTUNITY with significant equity and cash flow upside in coming years. Renovated 3 family brick row house in Boston's desirable South End zip code of 02118, including a total of 8 bedrooms, 3 bathrooms and a total of 3,504sqft. All 3 units are rented with high performing leases. Detailed rent roll and full 2025/2026 P&L available upon request. Unit 1: 2 bedroom, 1 bath - $2,278/month (80% AMI), Unit 2: 3 bedroom, 1 bath - $1,948/month (60% AMI), Unit 3: 3 bedroom, 1 bath - $2,500/month (80% AMI). No BPDA restrictions on the sale or buyer qualifications. Rent limit restrictions (AMI percentages above) will expire in 2038, unlocking full market value rents. Full deed restriction details, including title insurance verification of 2038 expiration available upon request. Currently offered at a cap rate of ~5, with substantial upside in future years, as AMI limits increase and with the eventual expiration of deed restriction in 2038. Recent improvements include: full lead paint compliance/certification, plumbing, new indirect water heaters (2), refurbished gas boiler systems (3), reinforced masonry - basement and exterior. Completely renovated entranceway, including new front stairs, new front door and digital locking system, new entranceway paneling and lighting. New appliances (unit 1 stove and unit 2 fridge)
Location
State MA
County Suffolk
Zoning RES
Direction Google maps
Rooms
Basement Full, Walk-Out Access, Unfinished
Exterior
Fence Fenced/Enclosed
Garage No
Building
Lot Description Level
Story 3
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Others
Senior Community false
Listed by Vitruvius Realty