3 Buildings | 6 Residences | Value-Add Multifamily Opportunity
Boston Realty Advisors is pleased to present the exceptional opportunity to acquire The Winter Hill Portfolio, which is comprised of three duplexes in Somerville, Massachusetts, with addresses of 32 Radcliffe Road, 73 Bonair Street, and 7 Jaques Street. These assets are located steps away from the soon-to-be-completed Gilman Square Green Line extension stop, and a quarter-mile from the Assembly Orange Line stop, providing residents with easy access to downtown Boston. The Green Line extension is expected to be completed and operational by late-2021. Additionally, I-93 is conveniently accessible from the properties, allowing residents to easily navigate all of Eastern Massachusetts.
Somerville is conveniently located just over the Charles River from Boston, allowing for an effortless commute to Boston via multiple routes. The Green Line and the Orange line connect with the Commuter Rail and Blue, Red, and Silver lines, giving residents of The Winter Hill Portfolio access to the entire MBTA system. Somerville is also home to one of the strongest development pipelines in all of New England. Between Union Square, Boynton Yards, Assembly Row, Cambridge Crossing, and Hood Business Park, there are thousands of residential units and over 10 million SF of office & lab space that will be delivered within the next decade. Residents will also have the opportunity to enjoy the current retail amenities of Assembly Row and the newly-constructed Encore Casino, which includes 15 bars and restaurants about 2 miles from the properties.
The Winter Hill Portfolio is currently 100% leased and offers investors significant value-add potential. The properties would benefit from unit and common area renovations, which would allow the future ownership to capitalize on rising rents and condo pricing in the area, both of which have increased double-digit percentage points over the last 5 years.
The Winter Hill Portfolio is offered for sale on an un-priced basis. We will be conducting tours of the property with a “call-for-offers” to follow.