29-35 Temple Place Active Save Request In-Person Tour Request Virtual Tour
Boston,MA 02110
Key Details
Property Type Multi-Family
Sub Type 5+ Family - Rooming House
Listing Status Active
Purchase Type For Sale
Square Footage 26,600 sqft
Price per Sqft $1,127
MLS Listing ID 73296327
Bedrooms 42
Full Baths 32
Year Built 1895
Annual Tax Amount $9
Tax Year 9999
Lot Size 4,791 Sqft
Property Description
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.
Location
State MA
County Suffolk
Zoning 9
Interior
Fireplaces Number 18
Exterior
Waterfront false
Roof Type Rubber
Building
Lot Description Other
Story 18
Foundation Concrete Perimeter,Slab
Sewer Public Sewer
Water Public