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Chelsea Multi-Family Homes

Chelsea, located across the Mystic River from Boston in Suffolk County, has a population of 39,699 and is comprised of eight neighborhoods with mostly pre-World War II housing.

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The city has had a rough history to overcome with major fires in 1908 and 1973 and a fiscal collapse in the 1990s. It is coming back. Since 2005, 1,200 new housing units have been added along with retail, restaurant, and office space. Loft apartments are being created and are attracting families and young professionals. Boutiques and cafes are popping up downtown, and former industrial plants are becoming apartment complexes and condos. Although, it is not among Massachusetts' most expensive communities. Real estate prices are above the nationwide average. There are 12,403 homes and apartments in the city of which 74.5-percent are rental properties. The housing units can be broken down into 7.8-percent single family housing; 4.8-percent townhomes; 48.0-percent duplexes, homes converted to apartments, and other small apartment buildings; 39.6-percent apartment complexes; and 0.2-percent other housing units. The average rent is $1,872 per month with most of the rentals being studio or one- and two-bedroom apartments. In the last ten years, real estate in the city has appreciated 21.46-percent which places the city among the top 20-percent nationwide in real estate appreciation.

The population is comprised of both blue and white-collar workers. The per capita income was $22,369 and the median household income was $49,614 according to the 2010 census.

For those driving to work in Boston, the commute can take 32 minutes. However, both the MBTA bus and rail system provide popular and great alternative transportation. Of course, many places are within walking distance for residents, which is another alternative.

These facts can help you decide whether you want to buy multi-family housing in the city and what area you want to consider, but it is a good idea to hire an expert and use their knowledge to make this decision. Local real estate agents know the area, the current market, and potential changes in the market. They can help you choose properties that should give you the highest return on your investment with the potentially highest occupancy rate. They can provide information on any zoning restrictions, possible development in the area, and other information that is not always public knowledge. With their knowledge of the local market, they can also help you in negotiating the price and making an offer so that you stand the best chance of obtaining the property over other buyers without paying too much. Hiring a real estate agent to act as a buyer representative for you can make your purchase and future ownership be a more positive experience.

If you have investment property that you want to sell, our experienced, knowledgeable real estate agents will work for you to get you the best possible price with the fastest possible sale. With our large database, your listing will reach a large number of potential buyers, and one of our agents will work with you to create the best marketing plan for your property. So, let us help you find a qualified buyer quickly and negotiate the best sale price for you.

For expert advice on the Boston area real estate market, contact us to buy or list a multi-family property in Chelsea.

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