20 Hy-Sil Avenue
- 7.22% In-Place Cap Rate
- Built-In Rent Upside
- Ancillary Income Streams
- Across from Downtown Boston
- Ringed by the Inner Core
Property Description
Northeast Private Client Group is pleased to present 7 & 20 Hy-Sil Ave, a 16-unit, 14,478-square-foot brick apartment building in Chelsea, Massachusetts, directly across the Mystic River from downtown Boston. Built in 1978 and set on a 0.153-acre lot with an off-street parking lot, the property is offered at $4,000,000 — $250,000 per unit and $276.28 per square foot. The rent roll is entirely residential: nine one-bedrooms averaging 700 square feet, four two-bedrooms at 900, and three three-bedrooms at 1,100. Tenants carry their own electric baseboard heat, holding owner-paid expenses to water and sewer, trash, common-area electric, and internet and security. In-place gross scheduled rent runs $424,500, supporting net operating income of $288,640 — a 7.22% cap rate at the asking price. Marking the remaining units toward market lifts scheduled rent to $453,600 and NOI to $314,282, a 7.86% pro forma yield, with management underwritten at 4% of effective income. 7 & 20 Hy-Sil Ave offers a stabilized multifamily investment with a going-in yield above 7%, a clear path to 7.86% as leases turn, and light owner utility exposure. Coin-op laundry adds $3,302 of underwritten ancillary income, and a rooftop leased to three wireless carriers sits outside the in-place numbers. It is stabilized income today with room to grow — minutes from Boston. All interested and qualified parties will have the opportunity to obtain additional information upon request.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $4,000,000 |
| No. of Units: | 16 |
| Opportunity Zone: | No |
| Price per unit: | $250,000 |
| Property Website | Click Here |
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