Just when you thought Southie real estate couldn’t getting any higher in price, the Boston Business Journal is reporting a triple-decker on O Street might just set a record. This multifamily property located at 27 O Street was listed for….are you ready for it….$1.5 million last week and then….are ready for it…went under agreement the next day! Yes, the next day!
The buliding is over 3,000 square feet and offers two bedrooms on the first floor and three bedroom units on the second and third floor. Currently, this house generates $9,200 per month in rent.
So why is this such a hot commodity? Well, rents are skyrocketing and Southie is the city’s most sought after neighborhood for young professionals. According to the BBJ article, the average cost of an apartment in South Boston in the first quarter was $3,064 – compared to $2,841 for the same time period in 2012.
To read the full article by Thomas Grillo visit: http://www.bizjournals.com/boston/real_estate/2014/06/bid-for-south-boston-triple-decker-expected-to-set.html