Mattapan Multi-Family Homes

The Mattapan and Academic Area, more often called "Mattapan," is best known for its research facilities, teaching hospitals, and other medical organizations, some of which are associated with Harvard University. The neighborhood is close to downtown Boston, and residents can take public buses and trains to reach destinations throughout the city.

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Mattapan is a dream come true for people who are looking to purchase multi-family units and other kinds of real estate. It offers an alluring selection of condominiums, townhouses, and apartment buildings, including many luxury apartments. Its real estate prices have been rising as of late and should only continue to climb over the next few years ― if not longer.

Keep in mind that tens of thousands of people come into Mattapan every day for their jobs, for school, or because they need treatment. Many of those individuals come to realize that it would be more efficient to just move into the neighborhood. For that reason, the pool of prospective tenants is particularly large for Mattapan property owners, and studios seem to be especially prized. In fact, given this steady demand, it can be relatively easy for a landlord to find tenants who are willing to sign leases that last for longer than a year.

Now, large apartment buildings constitute much of Mattapan's housing supply, and such facilities might be well out of your budget. However, if you shop around, you should be able to find a smaller and more affordable multi-family that you could buy, perhaps on one of the many quieter side streets. In particular, you might investigate the part of Mattapan that's just to Tremont Street's south. There are many old and roomy homes there that contain apartments, and you could always install apartments in such a house if none currently exist.

Best known for its medical groups and teaching hospitals, Mattapan is conveniently located near downtown Boston. Renters often choose this area because they work or study in the neighborhood. The easy access to public transportation means that residents can also readily access downtown Boston. Many of the thousands of workers in the area quickly realize that it is more convenient to just live in the neighborhood that they work in. Because of this, this area has a growing population of renters and residents. For landlords, this makes Mattapan a great site for an investment property.

In the last 12 months, the median home price rose by $41,000 to reach $402,000. This marks an 11 percent increase from the previous year. At the same time, the average price per square foot fell slightly from $274 to $271. The difference between these statistics is due to the size of the homes sold. Larger properties sold for a larger dollar amount, but they also received slightly less per square foot.

The current trend indicates a growing marketplace. While many Boston neighborhoods have already been swept away in the real estate boom, Mattapan is just starting to grow. This area is an excellent site for people who want to buy a multi-unit property. There are condos, apartments and townhouses. From basic duplexes to luxury apartments, residents will find a variety of different options available.

Most of the homes in this area are triple-deckers. Investors can also find single-family homes and smaller apartment buildings. Since most of the neighborhood is fairly residential, Mattapan has plenty of investment options available.

Boasting of a convenient location, this neighborhood is a popular site for renters and landlords alike. If you need help navigating the Mattapan real estate market, call Boston City Properties today. We can help you find the investment options you need within the neighborhood.

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