Century 21 Center Home Team
Caryn Gorczynski, Century 21 Center Home TeamPhone: (617) 240-6442
Email: [email protected]
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listing
1 of 8
MultifamilyFor Sale
$30,000,000
29-35 Temple Place
Boston, MA 02110
Courtesy of Cushman & Wakefield - Christopher Sower
MLS Property Information Network
42Beds
32Baths
26,600Sq Ft
Est. Mortgage
$154,954/mo

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.

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Information courtesy of Cushman & Wakefield is subject to verification and is not guaranteed.
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