NOT LISTED FOR SALE

218-230 Broadway Chelsea, MA 02150

Broadway Neighborhood

Estimated Value: $7,509,844

18 Beds
22 Baths
9,999 Sq Ft
$751/Sq Ft Est. Value

Last Sold December 07, 2022

Last sale price $6,625,000 $663 Per Sq Ft

Est. 13% increase in value since last sale

Current estimated payment $40,839/month

74 Days on Market

About This Home

As of December 2022

218-230 Broadway is a mixed use investment property consisting of a three story building containing a total of 22 units, including 4 retail units (all of which are leased) and 18 residential apartments made of 12 one bedroom/one bathroom units and 6 two bedroom/one bathroom units. The property is well located along Broadway, the area's primary commercial corridor in the heart of downtown Chelsea, a high density, urban infill city, just north of downtown Boston. All of the residential units were renovated in 2011. Several of the residential units offer upside bringing rents to market rates. Additionally, two of the retail units (218&224) offer upside by increasing below market rents to market rents upon lease renewal. Each retail unit is seperatley metered for electric, gas (heat/hot water) and water and sewer. The residential units are seperately metered for electricity, which tenants pay directly. The landlord pays for heat, hot water and water and sewer.

Last Agent to Sell the Property

John Pentore

Horvath & Tremblay Listed on: 08/10/2022

Co-Listed By

Dennis Kelleher

Horvath & Tremblay

Last Buyer's Agent

Madelyn Garcia

Madelyn Garcia Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $52,259

Year Built

  • Built in 1920

Lot Details

  • 0.28 Acre Lot

Home Design

  • 9,999 Sq Ft Home
  • Brick Exterior Construction
  • Stone Foundation
  • Rubber Roof

Bedrooms and Bathrooms

  • 18 Bedrooms
  • 22 Full Bathrooms

Parking

  • 3 Car Parking Spaces
  • Driveway
  • Open Parking

Listing and Financial Details

  • Total Actual Rent $7,550
  • Assessor Parcel Number M:019 P:097,1286162

Community Details

Overview

  • 22 Units
  • Property has 1 Level

Building Details

  • Operating Expense $178,956
  • Net Operating Income $439,738

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$52,259

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 5-9 Family
  • Year Built: 1920
  • Buyer Agency: 2.5
  • Transaction Broker: 0
  • Year Built Details: Approximate
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Gross/Full Sale Price
  • APOD AVAILABLE: No
  • ResoPropertyType: ResidentialIncome
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: None
  • Stories: 10

Interior Features

  • Interior Amenities: Other (See Remarks)
  • Fireplace YN: No
  • Total Bedrooms: 18
  • Full Bathrooms: 22
  • Total Bathrooms: 22
  • Total Bathrooms: 22
  • Living Area: 9999
  • Stories Total: 10
  • MAIN LO: AN2723
  • LIST PRICE PER Sq Ft: 690.07
  • PRICE PER Sq Ft: 662.57
  • MAIN SO: BB3163

Exterior Features

  • Construction Materials: Brick
  • Foundation Details: Stone
  • Roof: Rubber
  • Waterfront YN: No

Garage/Parking

  • Garage YN: No
  • Open Parking YN: Yes
  • Parking Features: Paved Drive
  • Total Parking Spaces: 3

Utilities

  • Sewer: Public Sewer
  • Water Source: Public

Lot Info

  • Parcel Number: M:019 P:097,1286162
  • Zoning: BR
  • Farm Land Area Units: Square Feet
  • Lot Size Acres: 0.28
  • Lot Size Area: 0.28
  • Lot Size Sq Ft: 12377
  • Lot Size Units: Acres
  • PAGE: 235
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Year: 2022
  • Tax Annual Amount: 52259.32
  • Tax Book Number: 42460

Multi Family

  • Gross Income: 618694
  • Net Operating Income: 439738
  • Number Of Units Total: 22
  • Operating Expense: 178956
  • Total Actual Rent: 7550
  • LEVELS 1: 1
  • Basement Included Sq Ft: No
  • LEVELS 4: 1
  • LEVELS 2: 1
  • LEVELS 3: 1
  • LEASE 4: N
  • LEASE 3: N
  • LEASE 2: N
  • LEASE 1: N
  • FLRS 1: 2
  • FLRS 4: 2
  • FLRS 3: 2
  • FLRS 2: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 10, 2007
Sold by
Cherry Street Realty C
Bought by
220 Broadway Llc
Current Estimated Value
$7,509,844

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$100,000
Interest Rate
6.74%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 31, 1990
Sold by
Imbrescia Frank
Bought by
Cherry St Rlty Co Inc
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
220 Broadway Llc $1,435,000 --
220 Broadway Llc $1,435,000 --
Cherry St Rlty Co Inc $85,229 --
Cherry St Rlty Co Inc $85,229 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 220 Broadway Llc $3,430,000
Closed 220 Broadway Llc $2,288,000
Closed 220 Broadway Llc $1,904,000
Closed 220 Broadway Llc $1,500,000
Closed 220 Broadway Llc $250,000
Closed 220 Broadway Llc $100,000
Closed 220 Broadway Llc $1,130,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/07/2022 12/07/22 Sold $6,625,000 -4.0% $663 / Sq Ft
10/24/2022 10/24/22 Pending -- -- --
08/10/2022 08/10/22 For Sale $6,900,000 -- $690 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $0 $6,311,800 $283,100 $6,028,700
2024 $73,621 $6,271,400 $269,600 $6,001,800
2023 $0 $4,175,900 $269,600 $3,906,300
2022 $0 $3,944,100 $269,600 $3,674,500
2021 $0 $2,392,300 $256,700 $2,135,600
2020 $0 $2,348,100 $244,600 $2,103,500
2019 $59,562 $2,044,000 $244,600 $1,799,400
2018 $0 $2,007,700 $244,600 $1,763,100
2017 $0 $1,933,200 $244,600 $1,688,600
2016 -- $1,927,900 $244,600 $1,683,300
2015 -- $1,838,400 $244,600 $1,593,800
2014 -- $1,718,600 $222,300 $1,496,300
Source: Public Records

Agents Affiliated with this Home

  • John Pentore

    Seller's Agent in 2022

    John Pentore

    Horvath & Tremblay

    (781) 484-8166

    3 in this area

    46 Total Sales

    John Pentore
    Section Image
  • Dennis Kelleher

    Seller Co-Listing Agent in 2022

    Dennis Kelleher

    Horvath & Tremblay

    (781) 776-4002

    5 in this area

    57 Total Sales

    Dennis Kelleher
    Section Image
  • Madelyn Garcia

    Buyer's Agent in 2022

    Madelyn Garcia

    Madelyn Garcia Real Estate

    (617) 319-3980

    8 in this area

    96 Total Sales

    Madelyn Garcia
    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 73023839

MLS Property Information Network (MLS PIN)

APN: CHEL-000019-000000-000097

Massachusetts Suffolk County Chelsea 02150 Broadway

218-230 Broadway, Chelsea, MA

This home is located at 218-230 Broadway, Chelsea, MA 02150 since 10 August 2022 and is currently estimated at $7,509,844, approximately $751 per square foot. This property was built in 1920. 218-230 Broadway is a home located in Suffolk County with nearby schools including Chelsea High School and Phoenix Charter Academy - Chelsea.

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MLS Property Information Network (MLS PIN) The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

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