29-35 Temple Place, Boston, MA 02110
- $30,000,000
- 42
- BD
- 32
- BA
- 26,600
- SqFt
- List Price
- $30,000,000
- Status
- ACTIVE
- MLS#
- 73296327
- Bedrooms
- 42
- Bathrooms
- 32
- Full Baths
- 32
- Living Area
- 26,600
- Lot Size (Acres)
- 0.11
- Year Built
- 1895
Property Description
Presenting 29-35 Temple Place (“Temple Place Suites”), which is a 26,600 square foot, 6-story, mixed-use (residential over retail), elevator building, located in the heart of downtown Boston (just feet from Boston Common). Temple Place Suites Suites is designated with a Lodging License for 48 units (although the building is currently configured with only 42), and the current owner operates the residential portion (floors 2 through 6) as short-term, furnished, Airbnb style, rentals. There is a significant Value-Add Opportunity for the next owner to grow revenue by: (i) increasing the room count up to the permitted 48 units (this alone represents a 14.3% increase), (ii) increasing the average unit rental rate which is significantly below market, and (iii) potential additional density increase (current FAR is 8.0). The commercial portion of the building (floors 1 and basement) is fully occupied by one tenant (a micro-brewery, restaurant, and taproom). Apartment furnishings are included.
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Additional Information
- Taxes
- $9
- Lot Description
- Other
- Water
- Public
- Sewer
- Public Sewer
Mortgage Calculator
Listing courtesy of Listing Agent: Christopher Sower from Listing Office: Cushman & Wakefield.
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