148 Park & Pearl Street

Chelsea, MA 02150

$8,100,000
Price
55
Beds
30
Baths
24,219 Sq. Ft.
$334 / Sq. Ft.
24,219
Sq. Ft.
$334
per Sq. Ft.

Description

The Park & Pearl Portfolio is comprised of 3 multi-family buildings and contains 30 residential units comprised of (4) 3-Bedroom/1-Bathroom units, (17) 2-Bedroom/1-Bathroom units, and (9) 1-Bedroom/1-Bathroom units. Since acquisition of the assets in 2017 & 2021, current ownership has completed numerous capital upgrades including a majority of units featuring new, Navien tankless systems for individual heat and hot water (gas) as well as some upgrades to the unit’s interiors. 148 Park Street/155...The Park & Pearl Portfolio is comprised of 3 multi-family buildings and contains 30 residential units comprised of (4) 3-Bedroom/1-Bathroom units, (17) 2-Bedroom/1-Bathroom units, and (9) 1-Bedroom/1-Bathroom units. Since acquisition of the assets in 2017 & 2021, current ownership has completed numerous capital upgrades including a majority of units featuring new, Navien tankless systems for individual heat and hot water (gas) as well as some upgrades to the unit’s interiors. 148 Park Street/155 Pearl St contains (7) 2-Bedroom/1-Bathroom units and (5) 1-Bedroom/1-Bathroom units. 156-160 Park Street contains (4) 3-Bedroom/1-Bathroom units, (4) 2-Bedroom/1-Bathroom units, and (1) 1-Bedroom/1-Bathroom unit. 161-165 Park Street contains (6) 2-Bedroom/1-Bathroom units and (3) 1-Bedroom/1-Bathroom units. Through programmatic renovations to the assets, the opportunity exists to substantially raise market rents in a high demand, up-and-coming rental sub-market.
  1. Listed by John Pentore • Horvath & Tremblay
  2. Listed by Dennis Kelleher • Horvath & Tremblay

Property Details for 148 Park & Pearl Street

Town
Chelsea
Area
MA-Chelsea
Garage Spaces
0
Parking Spaces
.00
LISTING UPDATED: 08/26/2024 03:09 AM

Property Details for 148 Park & Pearl Street

StatusActive
MLS #73281006
Days on Market25
Taxes$77,895 / year
HOA Fees-
Compass TypeMulti Family
MLS TypeMulti-family / 5+ Family - 5+ Units Side by Side
Year Built1900
CountySuffolk County

Building Information for 148 Park & Pearl Street

Stories3Residences30Year Built1900Building Size-Lot Size0.24 AC / 10,454 SF

Property Information for 148 Park & Pearl Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Public Transportation, Shopping, Swimming Pool, Tennis Court, Park, Medical Facility, Laundromat, Highway Access, House of Worship, Marina, Private School, Public School, T-Station
  • Living Area: 24219.0
  • SqFt with Basement: No
  • Total Units: 30
  • Waterfront: No
  • Year Built Details: Approximate
  • Year Built Source: Public Records
Features
Interior Features
  • Num of Baths: 30.0
  • Num of Full Baths: 30
  • Num of Half Baths: 0
  • Bathrooms Total Decimal: 30.00
  • Bathrooms Total Integer: 30
  • FireplaceYN: No
  • Fireplaces: 0
  • SpaYN: No
Exterior Features
  • Roof Material: Rubber
Parking Features
  • Covered Spaces: .00
  • Garage: No
  • Garage Parking: Paved Drive
  • Open Parking: Yes
  • Parking Features: Paved Drive
Utilities
  • Electric: Individually Metered
  • Sewer: City/Town Sewer
  • Water: Public
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
  • Road Frontage Type: Public
  • Disclosures: The total monthly rent is $56,599,$32,767 is the maximum allowed by MLS. The total # of Rooms is 107,99 is the maximum allowed by MLS.
Tax Information
  • Assessments: $6,453,500
  • Book: 58775
  • Tax Year: 2024
  • Zoning: R2
Building / Association Information
Living Characteristics
  • Beds Total: 55
  • Total Living Levels: 3
Other Building Characteristics
  • Foundation: Other
Income / Expenses
  • GOI: $686,390.00
  • GRE: $249,825
  • NOI: $436,565.00
  • Operating Expense: $249,825.00
Complex & Association Information
  • Adult Community: No
Unit Information
Unit 1 Description
  • Floor U1: 1
  • Lease U1: N
  • Levels U1: 1
Unit 2 Description
  • Floor U2: 1
  • Lease U2: N
  • Levels U2: 1
Rental Info
Rental Info
  • Total Actual Rent: $32,767.00
Market and Agent Information
Sale Info
  • Buyer Broker Comp: 1.5

Property History for 148 Park & Pearl Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 148 Park & Pearl Street

This home is within Chelsea School District.
Rating
School
Type
Grades
Distance
Public - PK to 1
Public - 5 to 8
Public - 9 to 12
Public - 5 to 8
Rating
School
Distance
Shurtleff Early Childhood
PublicPK to 1

Joseph A. Browne School
Public5 to 8

Chelsea High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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148 Park & Pearl Street is a multi-family home for sale in Chelsea, MA 02150. This property was listed for sale on August 22, 2024 by Horvath & Tremblay, it's currently listed at $8,100,000. This listing's school district is Chelsea School District. Nearby schools include Shurtleff Early Childhood, Joseph A. Browne School and Chelsea High School. 148 Park & Pearl Street is a 55-bed, 30-bath, 24,219 sqft multi-family home built in 1900.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Horvath & Tremblay, John Pentore; Horvath & Tremblay, Dennis Kelleher

The property listing data and information, or the images, set forth herein were provided to MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS. The property listing data and information, and the images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the images, set forth herein.