Allston Multi-Family Homes

Allston, which is often referred to as "Allston-Brighton" as it shares a system of administration with the latter neighborhood, is a flourishing community and an exciting place to live and spend time.

Although it's a thriving municipal area, Allston real estate prices tend to be lower than those of nearby communities. At the same time, though plenty of affordable housing is obtainable in parts of this neighborhood, rents in Allston are approaching all-time highs in many spots. These climbing rates are a result of booming demand and regional increases in population. For all of these reasons, multi-family homes make for especially appealing buys in Allston ― whether you'd like to keep one for a long time and earn rent every month or you'd simply like to purchase a property, fix it up, and sell it soon afterwards to make a considerable profit.

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When it comes to the kinds of multi-family units that are available in Allston, triple-deckers and large, beautiful Victorian buildings are particularly prevalent. Many of those buildings offer their residents lots of room, and many are of great historical interest as well. For people with an immense budget, lovely structures ― many of which are made of brick ― with condos and apartments are also available throughout this section of Boston. In fact, in September 2014, three Allston apartment buildings near Commonwealth Avenue sold for almost $150 million. Of course, plenty of Allston apartment complexes cost much less than those three.

What especially draws people to live in Allston is that so many of its residences are located within walking distance of supermarkets, restaurants, major retail establishments, laundromats, bus stops, and train and subway stations, and that proximity can make daily life so much more convenient. On top of that, there are plenty of nightlife opportunities there.

Known as Allston-Brighton, this neighborhood is a popular place to live and invest. While it is a growing city, real estate prices tend to be lower than in similar areas. With rents rapidly starting to rise, investors can buy a property with multiple units and enjoy a quick return on their investment.

Part of the growth in this real estate market is the rise in demand. As the population increases in the area, more people need to find rental units. Investors can buy multiple units to earn rental profits, or they can buy a profit to fix and sell.

The types of available units can vary throughout the neighborhood. Investors will find gorgeous, old Victorian homes that have been divided into separate units. Many of these historic properties boast of unique architecture and plenty of extra space. Meanwhile, triple-deckers and typical apartments are also available. The more expensive properties tend to be made of brick and offer dozens or hundreds of units.

This area has remained a popular site for renters because of its proximity to transportation options, restaurants and shops. Since all of these community amenities will remain, investors can expect continued growth for their home's value.

While this neighborhood was previously known for being the center of college life, commercial developers have moved into the neighborhood. In this area, developers have created luxury condos and apartments, although many of these units are still occupied by college students. While college students still drive a great deal of this marketplace, the exploding property values in Boston have caused developers to invest in the emerging housing market.

Some of the recent developments include examples like the Lancaster. Spanning 55 condos, this property offers homes that start for around $535,000. At the Aberdeen, prices start at $900 per square foot.

Investors can also enjoy having a growing commercial and science base in the neighborhood. Harvard University has been gradually building new innovation labs, and commercial investors have also moved into the area.

To find out how to invest in Allston's growing real estate market, contact Boston City Properties today. We can help you find the listings and information you need to make the right investment choice.

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