29-35 Temple Place, Boston, MA 02110
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$30,000,000
42 Unit
42 Beds
32 Baths
26600 SQFT
0.11 Acre

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.

Property Details tap to expand

Building Information

  • Total Units: 42
  • Total Floors: 18
  • Total Bedrooms: 42
  • Total Full Baths: 32
  • Total Fireplaces: 18

Financial

  • APOD Available: No

Utilities

  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Under Lease: No
  • Floors: 9
  • Levels: 9

Unit 2 Description

  • Under Lease: No
  • Floors: 9
  • Levels: 9

Construction

  • Year Built: 1895
  • Type: 5+ Family - Rooming House
  • Construction Type: Aluminum, Frame
  • Foundation Info: Poured Concrete, Slab
  • Roof Material: Rubber
  • Lead Paint: None
  • Warranty: No

Other Information

  • MLS ID# 73296327
  • Last Updated: 10/04/24

Property History tap to expand

Date Event Price Price/Sq Ft Source
10/04/2024Active$30,000,000$1,128MLSPIN
09/30/2024New$30,000,000$1,128MLSPIN

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Seller's Representative: Christopher Sower, Cushman & Wakefield
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: n/a
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2024-10-04 03:05:00