Boston Realty Advisors is pleased to present the exceptional opportunity to acquire the Townhouse Portfolio, three (3) exquisite townhouse communities in the towns of Newton and Watertown, Massachusetts. This unique offering consists of thirty five (35), 3 bedroom residential units, spread across three extremely well located properties. The Townhouse Portfolio, comprised of 197 Webster Street and 31-39 Lenglen Road in Newton, and 69-73 Waverley Avenue in Watertown, offers investors the opportunity to acquire irreplaceable real estate in a high-barrier to entry market.
With a strong employer base and affluent towns neighboring Newton and Watertown, the Townhouse Portfolio is situated in one of the most sought after areas in New England. Strong school systems as well as incredible access to local submarket amenities make the area extremely desirable. Conveniently located less than 12 miles west of Boston with accessibility to major thoroughfares, these townhouse communities showcase truly supreme locations allowing for an effortless commute to Downtown Boston and other cities. The properties in Newton are strategically situated directly adjacent to the Mass Pike (I-90) and are walking distance to the MBTA Commuter Rail, Framingham Line, at West Newton and Newtonville stations. 69-73 Waverley Avenue in Watertown is situated adjacent to Route 20 and is just a short drive to the Mass Pike (I-90). With immediate access to public transit, the deep employer base that makes up the area, and the wealth of amenities, residents of the Townhouse Portfolio benefit from all the area has to offer.
The Townhouse 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.
Irreplaceable Real Estate
3 townhouse communities totaling 35 residential units with transit oriented locations, make the Townhouse Portfolio highly valuable in burgeoning and high-barrier to entry submarkets. A sizable unit count offers investors a great scale in markets with excellent drivers and dynamics.
The Townhouse Portfolio showcases a truly unmatched location; situated right next to the Mass Pike (I-90) and just a quick drive to Route 128 (I-95) and other major thoroughfares, it offers easy access to surrounding municipalities and Downtown Boston. In addition, the properties in Newton are steps away from the MBTA Commuter Rail at West Newton and Newtonville stations, Framingham Line.
Strong Market Dynamics
Newton and Watertown are extremely desirable locations; not only for their accessibly to Boston and surrounding cities, but also for their proximity to a plethora of amenities. Furthermore a deep employer base and strong school systems produce incredible demand for housing in these markets.
Immediate Value Add Potential
Current low in-place rents offer upside potential. Light in-unit, common area and exterior renovations will allow new ownership to increase rents and maintain the strong tenant base. Optionality also presents value add potential for the portfolio, as investors can benefit from a variety of alternatives, such as a condo conversion.
Jason s. Weissman
Founder & Senior Partner
Nicholas m. Herz
Managing Director & Partner