Investment Overview

The Louis Street Apartments offer the rare opportunity to own a full city block (290 feet long) of residential property in Chelsea, MA – a fast growing, dynamic city just minutes from downtown Boston. The property is 100 yards from the water’s edge of the Chelsea Creek, which connects to Boston Harbor – providing unobstructed views of the water and a panorama of Chelsea, East Boston, Logan Airport, South Boston, downtown Boston, and Charlestown. 27 apartment units produce exceptionally reliable cash flow. 70% of the tenants receive substantial rent subsidies. As a result, 65% percent of the property’s total rent roll is paid directly by housing agencies. Over the last 15 years the average turnover was less than 2 tenants per year. 1/3 of the 27 tenants have lived there for 10 years or more. Vacancies are backfilled immediately from a waiting list.