148 Park & Pearl St, Chelsea MA 02150 – 55 bed 30 bath For Sale – 73281006
Overview
- Updated On:
- February 20, 2025
-
- 73281006
- 55 Bedrooms
- 30 Bathrooms
- 0 Garage Spaces
- 0 Non-Garage Parking Spaces
- 1900
Description
The Park & Pearl Portfolio is comprised of 3 multi-family buildings and contains 30 residential units comprised of (4) 3-Bedroom/1-Bathroom units, (17) 2-Bedroom/1-Bathroom units, and (9) 1-Bedroom/1-Bathroom units. Since acquisition of the assets in 2017 & 2021, current ownership has completed numerous capital upgrades including a majority of units featuring new, Navien tankless systems for individual heat and hot water (gas) as well as some upgrades to the unit’s interiors. 148 Park Street/155 Pearl St contains (7) 2-Bedroom/1-Bathroom units and (5) 1-Bedroom/1-Bathroom units. 156-160 Park Street contains (4) 3-Bedroom/1-Bathroom units, (4) 2-Bedroom/1-Bathroom units, and (1) 1-Bedroom/1-Bathroom unit. 161-165 Park Street contains (6) 2-Bedroom/1-Bathroom units and (3) 1-Bedroom/1-Bathroom units. Through programmatic renovations to the assets, the opportunity exists to substantially raise market rents in a high demand, up-and-coming rental sub-market.
Property Listing Details
Overview
| MLS Status | Closed |
|---|---|
| Price | $ 8,100,000 |
| Living Area | 24,219.00 ft2 |
| Bedrooms | 55 |
| Total Rooms | 99 |
|---|---|
| Listing MLS ID | 73281006 |
| Days on Market | 54 |
| Bathrooms | 30 |
Unit Information
| Bedrooms | 55 |
|---|---|
| Full Bathrooms | 30 |
| Half Bathrooms | 0 |
| Cooling | |
| Heating | |
| Uncovered Parking | 0 |
| Garage Parking | 0 |
| Water View | |
| Unit Level |
| Common Walls | |
|---|---|
| Laundry Features | |
| Lead Paint | Unknown |
| Outdoor Space Available | |
| Living Area Includes Basement | |
| Patio And Porch Features | |
| Parking Features | Paved Drive |
| Waterview Features | |
| Flooring |
Building Information
| Building Name | |
|---|---|
| Units in Building | 30 |
| Pets Allowed | |
| Association Amenities | |
| Pool Features | |
| Waterfront Features | |
| Association Fee Includes | |
| Construction Materials |
| Year Built | 1900 |
|---|---|
| Security Features | |
| Sewer | Public Sewer |
| Spa Features | |
| Structure Type | |
| Water Source | Public |
| Basement | |
| Roof | Rubber |
Additional Details
| Community Features | Public Transportation,Shopping,Pool,Tennis Court(s),Park,Medical Facility,Laundromat,Highway Access,House of Worship,Marina,Private School,Public School,T-Station |
|---|---|
| Disclosures | The total monthly rent is $56,599,$32,767 is the maximum allowed by MLS. The total # of Rooms is 107,99 is the maximum allowed by MLS. |
| Last Updated | 2025-02-20T15:24:00.000Z |
| Building Area Source | Public Records |
| MLS PIN Page | |
| Parcel Number | |
| Original List Price | 8100000 |
| Listing Office | horvath & tremblay |
| Tax Annual Amount | 77895 |
|---|---|
| Tax Assessed Value | 6453500 |
| Tax Book Number | 58775 |
| Tax Year | 2024 |
| Year Built Details | Approximate |
| Year Built Source | Public Records |
| Zoning | R2 |
| Listing Agent | john pentore |
Amenities and Features
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148 Park & Pearl St, Chelsea MA 02150 | © 2024 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS ARE DEEMED RELIABLE, BUT SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. THE NUMBER OF BEDROOMS LISTED ABOVE IS NOT A LEGAL CONCLUSION. EACH PERSON SHOULD CONSULT WITH HIS/HER OWN ATTORNEY, ARCHITECT OR ZONING EXPERT TO MAKE A DETERMINATION AS TO THE NUMBER OF ROOMS IN THE UNIT THAT MAY BE LEGALLY USED AS A BEDROOM. EQUAL HOUSING OPPORTUNITY.
148 Park & Pearl St, Chelsea MA 02150 – 55 bed 30 bath For Sale – 73281006
$ 8,100,000
Status: Closed
148 Park & Pearl St, Chelsea MA 02150, Chelsea, , Suffolk 02150
Country: US
Property Overview
MLS #: 73281006
Type: 5+ Family - 5+ Units Side by Side /
Action: Residential Income
Year Built: 1900 (Approximate, Source: Public Records, Effective: )
Living Area: 24,219.00 ft2 (Total: 24219 Square Feet, Source: Public Records)
Lot Size: 0.24 ft2 (Area: 0.24 Acres, SqFt: 10454)
Total Rooms: 99
Condition:
Availability:
Building Name:
Interior Features
Bedrooms: 55 (Main Level: )
Bathrooms: Total: 30 (Full: 30, Half: 0, Decimal: 30, Main Level: )
Basement:
Fireplaces: 0 ()
Flooring:
Laundry:
Window Features:
Door Features:
Accessibility:
Entry: Level , Location:
Other Equipment:
Construction & Design
Style:
Materials:
Foundation: Other (Area: )
Roof: Rubber
Stories: 3 (3)
Common Walls:
Body Type:
Utilities & Green Features
Heating:
Cooling:
Water Source: Public
Sewer: Public Sewer ()
Utilities:
Electric: Individually Metered (Expense: )
Gas:
Energy Certificate:
Green Energy Efficient:
Green Energy Generation:
Green Indoor Air Quality:
Green Water Conservation:
Insulation:
Exterior & Lot Features
Garage Spaces: 0
Covered Spaces: 0
Parking Total: 0
Parking Features: Paved Drive
Pool:
Spa:
Patio/Porch:
Fencing:
Lot Features:
View: (, Waterview Y/N: )
Waterfront:
Road Frontage: Public ()
Road Surface:
Road Responsibility:
Other Structures:
Horse Amenities:
Wooded Area:
Pasture Area:
Cultivated Area:
Additional Parcels: (Number: )
Outdoor Space:
Community & Association
Community Features: Public Transportation,Shopping,Pool,Tennis Court(s),Park,Medical Facility,Laundromat,Highway Access,House of Worship,Marina,Private School,Public School,T-Station
Association Fee: ()
Fee Includes:
Association Amenities:
Pets Allowed:
Schools: E: , M: , H:
Zoning: R2 ()
MLS Area: Major: , Minor:
Management:
Optional Fee: (Includes: )
Property Description
The Park & Pearl Portfolio is comprised of 3 multi-family buildings and contains 30 residential units comprised of (4) 3-Bedroom/1-Bathroom units, (17) 2-Bedroom/1-Bathroom units, and (9) 1-Bedroom/1-Bathroom units. Since acquisition of the assets in 2017 & 2021, current ownership has completed numerous capital upgrades including a majority of units featuring new, Navien tankless systems for individual heat and hot water (gas) as well as some upgrades to the unit’s interiors. 148 Park Street/155 Pearl St contains (7) 2-Bedroom/1-Bathroom units and (5) 1-Bedroom/1-Bathroom units. 156-160 Park Street contains (4) 3-Bedroom/1-Bathroom units, (4) 2-Bedroom/1-Bathroom units, and (1) 1-Bedroom/1-Bathroom unit. 161-165 Park Street contains (6) 2-Bedroom/1-Bathroom units and (3) 1-Bedroom/1-Bathroom units. Through programmatic renovations to the assets, the opportunity exists to substantially raise market rents in a high demand, up-and-coming rental sub-market.
Room Details
Living Room (): x ( sqft) - Features:
Dining Room (): x ( sqft) - Features:
Kitchen (): x ( sqft) - Features:
Master Bedroom (): x ( sqft) - Features:
Master Bathroom: Features:
Laundry Dimensions:
Multi-Unit Information (if applicable)
Total Units: 30
Units Owner Occupied:
Unit 1: Beds: 2, Full Baths: 1, Half Baths: 0, Levels: 1, Rent: 1650, Lease: N
Unit 2: Beds: 1, Full Baths: 1, Half Baths: 0, Levels: 1, Rent: 1800, Lease: N
Unit 3: Beds: , Full Baths: , Half Baths: , Levels: , Rent: , Lease:
Unit 4: Beds: , Full Baths: , Half Baths: , Levels: , Rent: , Lease:
Complex Complete:
Unit Building:
Financial & Lease Information
Tax Annual Amount: 77895 (Year: 2024)
Tax Assessed Value: 6453500
Tax Block/Lot/Book/Map: / / 58775 /
Parcel Number:
Special Licenses:
Current Financing: Other
Gross Income: 686390 (Scheduled: )
Net Operating Income: 436565
Operating Expense: 249825 (Water/Sewer: , Insurance: )
Financial Data Source:
APOD Available: Yes
Tenant Pays:
Rent Includes: Unit 1(Water),Unit 2(Water)
Total Actual Rent: 32767
Lease Term: (Existing Type: )
Deposit Required: (Security: , First Month: , Last Month: )
Insurance Required:
References Required:
Listing & Agent Information
Listing Agent: (MLS ID: CN212669) / Team: CN212671,CN212669
Listing Office: (MLS ID: AN2723)
Agent (Property):
Buyer Agent MLS ID: CN212669
Buyer Office MLS ID: AN2723
Listing Agreement: Exclusive Right To Sell
Listing Contract Date: 2024-08-22
Expiration Date: 1900-01-01
Original List Price: 8100000
Price Per SqFt (List): 334.45
Market Time (Property): 54 (Broker: 54, Prev Broker: 0, Prev Property: 0)
MLS Status: Sold
Possession:
Directions: Multiple Buildings, Please Use GPS
Disclosures: The total monthly rent is $56,599,$32,767 is the maximum allowed by MLS. The total # of Rooms is 107,99 is the maximum allowed by MLS., N
Lead Paint: Unknown
Title 5:
Exclusions:
Contingency:
Special Listing Conditions:
Lender Owned:
Short Sale Lender Approval Required:
Home Warranty Y/N:
Documents Available: (Count: )
Showings Deferral Date:
Open House Flag:
Listing Alert: No
Square Feet Disclosures: (Incl. Base: No, Other: )
Master Book/Page: / (Page: 321)
Sale Information (if applicable)
Close Date: 2025-02-20
Close Price: 7800000
Price Per SqFt (Sold): 322.06
Anticipated Sold Date: 2025-02-19T05:00:00.000Z
Concessions Amount:
Purchase Contract Date: 2024-10-15
Sold vs Rent:
System Information
Property ID: 423374
Modification Timestamp: 2025-02-20T15:24:00.000Z
Bridge Modification Timestamp: 2025-02-20T15:28:24.846Z
Original Entry Timestamp: 2024-08-22T20:21:00.000Z
Status Change Timestamp: 2025-02-20T15:24:00.000Z
Off Market Date: 2024-10-15
Development Status:
Business Type:
