Chelsea Multifamily Property Sells for $13.25 Million
48-50 Chester Avenue, a 6,306 square foot multifamily property in Chelsea, Massachusetts, sells for $13.25 million.
48-50 Chester Avenue, a multifamily property located in Chelsea, Massachusetts, has been sold for 13.25 million. The property spans 6,306 square feet and sold for 2,100 per square foot. The deal closed on December 13, 2021.
The buyer and seller have not been disclosed, and no brokers or lenders were involved in the deal. The lack of information on the participants in the deal makes it difficult to determine the motivations behind the sale and purchase of the property.
Chelsea is a city located in Suffolk County, Massachusetts, and is part of the Boston metropolitan area. The city has a population of approximately 40,000 people and is known for its diverse population and proximity to Boston.
The sale of 48-50 Chester Avenue is indicative of the strong demand for multifamily properties in the Boston area. The city has seen a surge in demand for rental properties in recent years, driven by a growing population and a strong job market. The sale of this property is likely to attract the attention of other investors looking to capitalize on the strong rental market in the area.
Overall, the sale of 48-50 Chester Avenue is a significant transaction in the Boston multifamily market. The lack of information on the participants in the deal makes it difficult to determine the motivations behind the sale and purchase of the property, but the strong demand for rental properties in the area suggests that the buyer is likely to see a strong return on investment in the coming years.