47-49

Massachusetts Ave

47-49 Massachusetts Ave

Back Bay

Rare opportunity to buy a premium multifamily asset in a core Back Bay location with fantastic income potential. Two buildings situated on a 3,102 square foot lot at the intersection of Massachusetts Avenue and Marlborough Street, just one block from Commonwealth Ave, the 3 story building is 9,357 gross square feet (7,233 livable sf) consisting of 6 residential units over two restaurant/retail spaces on street level. 

The location has incredible access to many of Boston’s cultural amenities including Newbury Street, Kenmore Square and The Prudential Center. The property provides significant value add opportunity to upgrade unit interiors and/or reconfigure floor plans to substantially increase rents or sell as part of a condo conversion. The property is being offered on an “unpriced” basis with private tours starting immediately.

 
 
 
 
1
1

8

Units

9,357

Gross Sq. Ft

7,233

Living Sq. Feet

3,102

Lot Sq. Feet

Charlesgate Realty Group has been exclusively retained to market 47-49 Massachusetts Ave in Boston’s historic Back Bay neighborhood.

The property consists of six residential units and two restaurant/retail units. The income producing property provides significant value add opportunity to upgrade unit interiors and/or reconfigure floor plans to substantially increase rents or sell as part of a condo conversion. All of the residential units are currently below market rents and several are tenant at will. With 2400+/- square foot floor plates spanning the two buildings, there is excellent flexibility to reconfigure layouts to maximize space..

47-49 Mass Ave is located on a 3,102+- square foot lot at the intersection of Massachusetts and highly sought after Marlborough Street, just one block from Commonwealth Ave. The location has incredible access to many of Boston’s cultural amenities including Newbury Street, Kenmore Square and The Prudential Center. Boston’s Back Bay has continued to experience extremely strong growth in demand for apartments for rent and condos for sale, driving rents and sale prices higher.

47-49 Mass Ave is located on a 3,102+- square foot lot at the intersection of Massachusetts and highly sought after Marlborough Street, just one block from Commonwealth Ave. The location has incredible access to many of Boston’s cultural amenities including Newbury Street, Kenmore Square and The Prudential Center. Boston’s Back Bay has continued to experience extremely strong growth in demand for apartments for rent and condos for sale, driving rents and sale prices higher.

Back Bay, like many of Boston’s other premier neighborhoods is experiencing extremely strong growth in demand for apartments for rent and condos for sale. Economic growth and demographic drivers are increasing the desirability of urban living leading to substantial population growth in Boston. Supply of apartments and condos have not been able to keep up with the surging demand for housing in Boston, especially in premier neighborhoods like Back Bay.

The property consists of six residential units and two restaurant/retail units. The income producing property provides significant value add opportunity to upgrade unit interiors and/or reconfigure floor plans to substantially increase rents or sell as part of a condo conversion. All of the residential units are currently below market rents and several are tenant at will. With 2400+/- square foot floor plates spanning the two buildings, there is excellent flexibility to reconfigure layouts to maximize space.

The location of 47-49 Massachusetts Avenue is extremely accessible and convenient for residents who work in Back Bay or Downtown. Public transit on the MBTA Green Line at Hynes station is less than a 5 minute walk. For car commuters, access by car to the Mass Turnpike for points east and west is one minute away. Logan airport is a 12 minute drive.

This property is within immediate walking distance to Newbury Street, Commonwealth Ave, and the Prudential Center. You’ll find many many high-end and trendy shops along Newbury Street, with the Prudential center and skyscrapers down Boylston.  The unique shops, trendy restaurants and beautiful vintage homes give this neighborhood it’s character – an extremely fashionable destination for Boston residents and visitors.

All

Area Map + Amenities

Neighborhood: Back Bay

Back Bay is one of America’s most desirable neighborhoods. This becomes obvious as you meander around Newbury Street, Boylston Street and Commonwealth Avenue.It’s not an uncommon occurrence to spot celebrities wandering up and down these picture-perfect streets. This bustling neighborhood also houses the two tallest members of Boston’s skyline, the Prudential Center and the John Hancock Tower, in addition to architectural gems such as Trinity Church and the Boston Public Library.

Community Atmosphere

Commonwealth Avenue is lined with vintage brownstones and picturesque trees. You’ll find many many high-end and trendy shops along Newbury Street, with the Prudential center and skyscrapers down Boylston.  The unique shops, trendy restaurants and beautiful vintage homes give this neighborhood it’s character – an extremely fashionable destination for Boston residents and visitors.It’s not an uncommon occurrence to spot celebrities wandering up and down these picture-perfect streets.

Transportation

Back Bay is served by the Green Line’s Arlington, Copley, Hynes Convention Center, and Prudential stations, and the Orange Line’s Back Bay station (which is also an MBTA Commuter Rail and Amtrak station).

Contact Charlesgate

Request Brochure & Financials

Todd Mikelonis

Todd Mikelonis

General Manager & Listing Agent

Phone: 617-319-5608
Email: [email protected]

Todd has been with Charlesgate Realty Group since 2004. As the General Manager of Charlesgate Realty, his primary roles are to hire and train staff, direct the sales and leasing operations, and consult key sales and leasing clients in the property management division. His guidance in all aspects of residential real estate make him an invaluable asset to our clients and the Charlesgate team.

By being active day to day in the market, Todd is able to maintain key expertise with the market while training, coaching and mentoring agents in the office. He currently serves on the Rental Issues Task Force for the Greater Boston Real Estate Board.

Michael DiMella

Michael DiMella

Managing Partner & Listing Agent

Phone: 857-383-3113
Email: [email protected]

    

A nationally recognized leader in the real estate industry. For his innovative real estate sales & marketing skills and strategic thinking, he was chosen to receive the prestigious 30 Under 30 Realtors in America award from Realtor Magazine. He is also frequently cited in local and national news publications, like The Boston Globe, The Wall Street Journal, Boston Magazine, and Banker & Tradesman for his insight and perspective on the Boston real estate market.

P.T. Vineburgh

P.T. Vineburgh

Founding Partner & Listing Agent

Phone: 617-621-9060
Email: [email protected]

  

P.T. has been in the real estate business since 1999. He was a top producing agent at 3 firms before founding Charlesgate Realty Group. He prides himself on his ability to establish and maintain client relationships and provide a creative service approach. P.T.’s primary roles at Charlesgate are to head business development and lead the residential brokerage and investment/development activities of the firm. P.T. is a member of the Greater Boston, Massachusetts, and National Association of Realtors, and has earned the ABR and CRS designations.

Find out how Charlesgate Realty Group's marketing strategy can maximize your home's exposure

Charlesgate Realty Group is an integrated Real Estate firm servicing the Greater Boston region. Founded in 2003 by PT Vineburgh and Michael DiMella, Charlesgate has grown into a dynamic team providing services for sales and leasing brokerage, property management, multifamily investment sales, and development consulting & on-site sales and marketing.

Charlesgate’s Multifamily division specializes in brokerage and asset management of investment grade properties valued from $1 million to $30 million. Together with the Property Management & Leasing divisions, the firm provides management & leasing services tied with strategic value add renovation guidance to outperform the market and drive property value and ROI.

CHARLESGATE REALTY GROUP | 867 Boylston Street Boston, MA 02116 | 617.587.0100 | charlesgaterealty.com