Chelsea Street Mixed Use

East Boston is the city's historic gateway neighborhood — built by generations of immigrant workers, from the Irish and Italians of the shipyard era (Santarpio's has been pulling pizzas on Chelsea Street since 1903) to today's majority-Latino community, with roughly 43,000 residents and nearly half born outside the U.S. It is a true working neighborhood: 71% of households rent, the median age is 34, and the labor force staffs Logan Airport, the region's hotels and hospitals, downtown's service economy, and the Encore resort across Chelsea Creek. What East Boston sells is proximity. The Financial District is two miles away through the Sumner Tunnel — two Blue Line stops from Maverick Square — yet asking rents remain hundreds of dollars below the citywide average. That value-for-location gap is exactly what keeps vacancy near zero, and it is drawing institutional capital: Lendlease's 478-unit Clippership Wharf on the waterfront, and HYM's Suffolk Downs redevelopment — 10,000 homes over 161 acres, the largest project in Boston's history — both bet on the same demand this offering serves at a fraction of the basis.Northeast Private Client Group is pleased to present 152–154 Chelsea Street , a six-unit mixed-use building with an adjoining parking lot in, East Boston, two miles from downtown Boston. The offering consists of (3) one-bedroom and (2) two-bedroom apartments over a street-level retail storefront, plus the on-site parking lot generating $4,800 per year of additional income. Tenants pay their own heat and electric, keeping the expense load light. In-place residential rents run roughly 13% below market, and ownership’s own recent leasing proves the mark — one-bedrooms have already achieved $2,155 and two-bedrooms $2,895. Marking the remaining units to market lifts NOI from $128,958 to $151,881 and the cap rate from 5.61% to 6.60% on the $2,300,000 asking price. East Boston is the city’s workforce-housing hub: 71% renter-occupied, anchored by Logan Airport’s ~20,000 jobs next door, the Encore casino across the creek, and downtown’s employment core two Blue Line stops from Maverick Square. Asking rents here still sit hundreds of dollars below Boston’s citywide average — durable demand at attainable rents, minutes from everything. All interested and qualified parties will have the opportunity to obtain additional information upon request.