Unit Information
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.
- Additional Details
- Status: ACT
- Type: Multi-Family, 5+ Family - Rooming House
- Zip Code: 02110
- Living Levels: 18
- Rooms and Dimensions
- Total Units: 42
- Total Floors: 18
- Total Rooms: 42
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$30,000,000
- Listing ID: 73296327
- Bedrooms: 42
- Full Baths: 32
- Living Area: 26,600 sqft Convert
- Lot Size: 4,578 sqft Convert
- Acres: 0.11
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Luxury Residential Group
(617) 233-5800
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LRG Luxury Residential Group | 355 Boylston St, Boston MA 02116 | (617) 233-5800 | |