Boston Realty Advisors is exclusively retained to sell 190 Campbell Avenue in Revere, a 7 unit, ± 6,555 square foot fully gut renovated multi-family that offers investors the opportunity to significantly add value through net operating income growth.
The building is essentially brand new as the 2015 gut renovation stripped the asset down to just the bare shell. The roof, siding, sub-siding, all electrical, plumbing, and mechanicals were gutted and replaced with high efficiency finishes. All new utilities were brought in, new insulated rubber roof, energy star windows, new basement slab among other capital renovations. The high-end features include central A/C, granite surfaces, white oak floors, stainless steel appliances, and full title baths. The ownership did not spare any expense transforming 190 Campbell Avenue into one of the premium multifamily properties in Revere.
The property is ideally located blocks from Revere Beach, the first public beach in the United States. The asset is within walking distance from a wide range of amenities and is less than a 4 minute walk to Revere Beach MBTA Blue Line Station.
The four-story multi-family building with water views is positioned for net operating income growth by taking advantage of substantially below market rents that are in-place. Currently, the property consists of six two-bedroom and one three-bedroom units which are at least 16% below market value. Additionally, the high-end renovations have positioned the property for conversion to luxury condominiums.