Brookline Investment Properties

Situated south of Boston and contiguous with Fenway, Newton, Roxbury and Jamaica Plain, Brookline has kept an identity of its own since its founding in the 1600s. Its several neighborhoods include parks, tree-lined streets and greenspace. The mix of architectural styles in both residential and commercial buildings illustrates its periods of growth and adds to its unique character.

Brookline's well-established neighborhoods are just a few minutes from downtown Boston. Coolidge Corner, an important economic zone in the late 1800s, is still a major transportation hub and bustling retail area with restaurants, shopping and entertainment venues. Multi-family housing includes three- and four-story apartment complexes from the early 20th century and attractive brownstone townhomes. Triple-deckers are prominent. The hilly terrain sets a dramatic backdrop for Washington Square, a pleasant mix of well-proportioned brownstones, courtyard apartments and detached homes lining Beacon Street and neighborhood side streets.

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Brookline Residential Investments

About 48 percent of Brookline homes are owner-occupied, and 52 percent are rentals. Brookline's mean home value was $667,900 in May 2015, an increase of 11.2 percent over the past year. Values are expected to increase another 4.1 percent during the next year. The median sales price was $575,000 between March and June 2015, an increase of 9.1 percent over the last quarter. In the last five years, sales prices have appreciated 13.1 percent.

Brookline Village was ranked 26th in the list of the most expensive apartment rentals in the Boston area in May 2015. The median rental rate was $1,230, and a one-bedroom averaged $2,250. Rents along parts of Boylston Street tend to be less expensive.

Choosing the Right Brookline Investment Property

The high quality of homes, great street appeal and proximity to Boston contribute to Brookline's popularity. Brookline is an excellent place for long-term investments if you want steady rental income. It is also an excellent place to look for properties suitable for renovation and quick turn-around. With low inventory and high demand for condos in Brookline, conversion of brownstones, triple-deckers and other multi-family units into condos has excellent potential. Five Brookline properties sold for more than the asking price in November 2014.

Boston City Properties offers a full array of investor services from apartment and condo management for existing developments to pre-sales in new projects. We also have experts to help investors through the foreclosure process. If you would like to find out more about including Brookline properties in your investment portfolio, call 617-247-1933 to speak to one of our agents, or fill out the contact form on this page.

Brookline Real Estate 2017 and Developments

Brookline may be close to Boston, but it has a unique feel and environment. The real estate in this neighborhood features a mix of urban and suburban residences with several upscale restaurants and shops. Brookline also comes with recreational spaces, condos, apartments, large estates, and of course, single-family homes.

Real estate is also quite competitive. The market trends show that there is an increase of six percent or $50,000 when it comes to home sales this year. Meanwhile, the average price for every square foot in Brookline increased from $617 to $683. Compared to the Boston Metro, Brookline has a higher list price, which is $654 per square foot. The former only has $268 on average.

The home value index is $821,600 and the forecast of experts shows that the price will rise in the coming months up to 2.3%. The area is neither a buyer’s nor a seller’s market though the home values have increased 3.6% compared to the past year.

Currently, the median price of properties that are listed in Brookline is $1,050,000 and the median price of those that have been sold is $832,152. The rental prices in Brookline are higher than that of Boston Metro’s, which has a median on $2,500 while Brookline has $2,700.

Affordable Housing in Brookline

People who live at 86 Dummer Street in Brookline have something to celebrate about with the building of the affordable-housing project. It took over 30 years to construct and develop the mentioned project. Most of the tenants have already moved into the building, which is just adjacent to the Trustman Apartments of the Brookline Housing Authority.

The buildings form a quadrangle in which a residential community has a total of new 118 apartments. All these units are affordable for people who have a low income as well as those who do not reach 60% of the median income of the area. There are tiered rents that begin at only $850 monthly.

To become a resident in one of the units, most of those who qualified are local residents of the community. About 70% of the units are for families who work or live in Brookline as well as those whose children attend the METCO program in Brookline schools.

This development had a total cost of $16.3 million and it has six one-bedroom units. The other 22 are two bedroom units, while there are four more that have three bedrooms. $13.9 million was allotted to the building and the rest of the budget was used for rebuilding the playground and the courtyard situated between the Trustman Apartments and 86 Dummer Street.

Luxury Construction in Brookline

In 54 Harvard Avenue, a new condominium is under construction between Brookline Village and Coolidge Corner. It will comprise of three turnkey homes that will each feature at least four bedrooms and three and a half baths. They will also come with elevator access from two of the garage in the area.

There are also chef’s kitchens with high-end appliances as well as an oversized island. The layouts for the dining and living rooms are spacious, which makes them ideal for entertainment and relaxation. Based on the plans for the luxury property, it will have units one and two with step down family rooms. Both will have private patios as well while unit one with a fenced-in yard.

Both of the units will have a wall of windows so that natural light will flow throughout the house. There is also an extra parking space outdoors, along with a gas fireplace, private storage, central air, and laundry hookups.

Home Prices and Rentals in Brookline

When it comes to rentals, Cambridge is the most expensive place in the Boston region for a one bedroom or a two bedroom apartment. The median rent in this municipality is $2,360 per month. Brookline comes in close second with $2,300 per month in rents for one bedroom units. Two bedroom apartments are currently priced at $2,800 in Brookline in contrast to Cambridge’s $2,950.

As for houses and condominiums, it is typical that the condos are more expensive than the other. However, Brookline is differs from most other towns, especially this year. The home prices are at levels that would normally be found in condominiums, particularly in areas that have densely-developed real estate markets, such as Beacon Hill. This part of Boston has a median price of $1,211 per square foot.

Brookline has an average asking price of $644 per square foot with the properties ranging from $386 to $1,378.

Properties for Sale in Brookline

Some of the Brookline homes are up for grabs this year and one of them has an asking price of $1,149,000. It has three bedrooms and three bathrooms with the whole area covering 3,860 square feet of space. The home is not new but it was completely renovated in 2003. It has an office and an outdoor patio.

For those looking for something that is not too expensive, a one bedroom and one bathroom house in 143 West Brookline Street may be ideal for them. It is currently priced $629,000 and is quite quaint with 710 square feet of space. It is located in the Taino Tower, which has its own interesting story. The location is convenient because it is just in the heart of Boston’s South End at the corner of West Brookline and Tremont. The unit is in the center of several restaurants in the area.

Another choice is the 155 Brookline Street price at $1,125,000 with two bedrooms and two and a half baths. It has a square footage of 1,790 and has vaulted ceilings and oversized windows. The property also features a fireplace and a parking spot off the street with a heated driveway.

Perhaps one of the most expensive homes for sale is in 153 West Brookline Street, which asks for $3,099,000. It has three bedrooms and three and a half baths. The entire property measures 2,630 square feet. It is a condo with a townhouse style that features four stories and a bonus roof deck.

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