North End Multi-Family Homes

You could spend many days entirely within the borders of Boston's storied North End and not run out of things to do. This neighborhood, one of the most compelling in Boston, has gourmet restaurants, frequent festivals, and Old North Church, a building that probably appears in every American history textbook. Whether you're in search of an outstanding out-of-the-way cafe or a deal on jewelry, you're sure to find it in the North End.

Click Here to Search

sales

Given the demand for North End residences, a well-maintained multi-family in this neighborhood should be remunerative for many years. Just be aware that multi-families in the North End have become scarcer. Approximately 10 percent of the two-family homes in this area have been turned into single-family houses since this century began. Of course, you could always do the opposite: purchase a single-family unit and convert it into a duplex or a triplex. Remember, though, that due to the historic nature of this community, the local government strictly regulates building alterations.

Furthermore, the North End's waterfront district encompasses many apartment and condo complexes. What were once industrial buildings and tenements are now truly opulent dwellings.

No matter what type of home your tenants inhabit, life in the North End is a delight all through the year. The streets are narrow and intimate, and the people are warm and friendly. With the Financial District and a variety of public transportation options so close by, a resident doesn't even need to own a car.

With its famous architecture, cafes, restaurants and festivals, North End has enjoyed an ongoing popularity among residents and renters. Because of the demand for these homes, investors can expect their property to continue to earn a profit for many years in the future.

The only issue with investing in the North End is finding the actual investment. In the last two decades, around 10 percent of the two-family homes have been transformed into single-family housing. Investors can still find multi-unit homes, or they can convert larger properties into a duplex or a triplex. Before investing, residents should also look up the zoning regulations. Since this is considered a historic neighborhood, there are a number of regulations about how you can renovate and alter your home.

The median home sells for $705,000. This is an increase of $136,750 from last year's median price of $568,250. During the same time period, the average price per square foot rose from $822 to $852. The rising prices represent a trend toward buying larger homes and the popularity of North End. Many residents want to live here, but not all of them can afford the higher prices.

For residents who are unable to afford the price of a home, renting is a convenient alternative. This area is also known for its luxury condos and lavish apartments around the waterfront district. This area was once the home of tenement and industrial buildings. Over the last few decades, many of these warehouses and sites of industry have been transformed into loft apartments and decadent condos. For units in this area, investors can expect to charge a much higher rent.

If investors can find a multi-unit home within their price range, this area is a great site for investments. It has remained a popular neighborhood for hundreds of years, so it is most likely going to continue to grow in the ensuing years. To get help finding an investment in North End, call Boston City Properties today.

Click Here
to Search

sales

Click Here
to Search

rentals