THREE RESIDENTIAL PARCELS WITH DEVELOPMENT POTENTIAL
Boston Realty Advisors is exclusively retained to offer for sale The Wellesley Portfolio, a collection of fully-leased townhomes and single family homes located in the prestigious town of Wellesley, Massachusetts. This rare collection consists of three properties totaling twelve units located immediately off Route 9, just a short drive to MBTA commuter rail access and amenity-rich Wellesley Square. The assets offer investors stable income with appreciation potential within a high barrier-to-entry market. The portfolio also presents a unique opportunity to redevelop the three contiguous parcels that together are just under two acres.
The Wellesley Portfolio is offered for sale on an unpriced basis. We will be conducting tours of the property in the upcoming weeks with a “call-for-offers” to follow.
Situated on 1.8 acres of total land, The Wellesley Portfolio offers investors the opportunity to purchase a multi-family portfolio with in-place income or construct a larger assemblage. Encompassing three adjacent lots on the corner of Cedar Street and Bethel Road, the location is highly sought after by many.
With immediate proximity to major highways such as the Mass Pike, I-95 and Route 9, this offering provides residents with direct access to surrounding areas and the employer rich submarket. Just one mile to the nearest MBTA station, Downtown Boston is a convenient commute. The assets are ideally positioned close to reputable academic institutions such as Babson College, Wellesley College and Lasell College.
Anchored by strong dynamics and attractive location, according to MLSPIN, the average rental rate for Wellesley, MA year to date is over $3,800/month with a price per square foot eclipsing $2.00 PSF. The single family housing market in Wellesley, MA continues to show strength with 117 listings sold YTD at an average PSF of $426 and the average sale price over $1,377,000.