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48-50 Harvard Ave
Brookline, MA 02446
The Harvard | 24-Units | 42-Parking Spaces · Multifamily Property For Sale
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24 Units
Investment Highlights
- 24-unit apartment complex with 42 parking spaces in Brookline, MA
- On-site laundry facility
- Gas boiler replaced in 2021
- Features 20 one-bedrooms, 3 studios, and 1 two-bedroom apartment
- Flat rubber roof and metal windows replaced in 2014
- Heat and hot water are included in rent
Executive Summary
Marcus & Millichap is excited to present the Harvard Avenue Apartments located in Brookline, MA. The legacy building features 24 apartments including 20 one-bedrooms, 3 studios and 1 two-bedroom apartments. The building also includes 42 off-street parking spaces, on-site laundry facility. The three-section building has a newer gas fired boiler FHW system (2021), newer windows (2014) with a flat rubber roof (2014). The apartments feature hardwood floors, tile bathrooms, white kitchen cabinetry and appliances. Heat and hot water are included, tenants are responsible for electricity. Several units that have been updated, leaving upside for buyers to continue to improve the units and raise the rents accordingly in one of the most demanded submarkets in Greater Boston near prominent schools/colleges/univerisities, hopsitals, shopping and tech companies.
Property Facts
| Price Per Unit | $603,286 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.10% | Lot Size | 0.41 AC |
| Gross Rent Multiplier | 15.16 | Building Size | 25,000 SF |
| No. Units | 24 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | ||
| Zoning | M-1.0 | ||
| Price Per Unit | $603,286 CAD |
| Sale Type | Investment |
| Cap Rate | 5.10% |
| Gross Rent Multiplier | 15.16 |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.41 AC |
| Building Size | 25,000 SF |
| No. Stories | 3 |
| Year Built | 1970 |
| Zoning | M-1.0 |
Amenities
Unit Amenities
- Dishwasher
- Heating
- Tile Floors
- Hardwood Floors
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Trash Pickup - Curbside
- Walking/Biking Trails
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | 450 |
| 1+1 | 20 | - | 700 |
| 2+1 | 1 | - | 850 |
Property Taxes
| Parcel Number | BROO-000171-000024 | Improvements Assessment | $11,020,902 CAD |
| Land Assessment | $3,803,254 CAD | Total Assessment | $14,824,156 CAD |
Property Taxes
Parcel Number
BROO-000171-000024
Land Assessment
$3,803,254 CAD
Improvements Assessment
$11,020,902 CAD
Total Assessment
$14,824,156 CAD
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