A three-family located at 821 East Second Street in Southie just sold for almost $2 million. Should we be surprised? Not at all! Southie’s real estate market is hot, hot, hot! The three story building features, 11 bedrooms, 3 bathrooms in 4335 square footage of living space. That’s a lot of bedrooms!
Three-family homes are becoming harder and harder to find thanks to the great condo conversion craze of the early 2000’s, so we shouldn’t be surprised that this one didn’t last long on the market. So are condos in the future for this piece of property? Nope. Strictly rental for now. According to Jay Rooney, principal of Jay Rooney & Co at Compass Real Estate, who sold the 3-family, buyers are now looking for rental properties – because everyone wants to live in Southie!
“The inventory of multi-family homes in South Boston is very low and the demand has never been higher because of the high demand for apartments in South Boston. For that reason, sellers are seeing record prices and significant returns on their investments. This property has 11 bedrooms, which makes it a great rental property; it’s on a great Southie block, it was well kept by the previous owners, it’s steps from Medal of Honor Park (aka M Street Park), Castle Island, and the bus-lines to downtown; and it overlooks the Ray Flynn Cruiseport and the Seaport.”
So there you go!
Thinking of Selling? Call Jay Rooney, The Southie Expert, at 617-997-1412 for a complimentary market analysis of your home.