Investment apartment suggestion (Somerville, Arlington, Braintree, etc) (Boston, Cambridge: rental, condo)

[yuwei0913]

Hi all, I am looking to buy a multi-family apartment for investment purpose. We have about 800K cash to spend so could probably afford up to 1M+. We currently live in a small condo in Wellesley where we bought only for the schools and we are pretty happy with it, as a result, the next property is only for investment purpose. I did some basic research and short listed areas like Somerville, Braintree and Arlington, etc. Newton, of course is ideal but it's been really expensive, the supply is also very low.

Could you please share your thoughts on these areas, in particular, for the rental investment purpose? Any input appreciated!

[Whatsnext75]

Id put dorchester, southie and quincy on the list too.

Somerville im sure would do well. I dont think of Arlington or braintree as renter's markets really...but maybe that's changed.

[BostonMike7]

Any of those areas seem like a good bet to me, although you might need to stretch your budget up into the $1mil range.

[yuwei0913]

I heard a lot of people say Arlington but i found it's not very easy to get into Boston/Cambridge by public transportation from Arlington.

[semiurbanite]

Originally Posted by yuwei0913

Hi all, I am looking to buy a multi-family apartment for investment purpose. We have about 800K cash to spend so could probably afford up to 1M+. We currently live in a small condo in Wellesley where we bought only for the schools and we are pretty happy with it, as a result, the next property is only for investment purpose. I did some basic research and short listed areas like Somerville, Braintree and Arlington, etc. Newton, of course is ideal but it's been really expensive, the supply is also very low.

Could you please share your thoughts on these areas, in particular, for the rental investment purpose? Any input appreciated!

Somerville will probably cost at least as much as Newton for comparable properties. Best best in Somerville is to buy within a few blocks of one of the future green line stations. Rents will spike as soon as the station opens.

[Whatsnext75]

When is the station in somerville supposed to open?

[gf2020]

Honestly, with $800K to spend, I would look at commercial property not residential property for investment purposes.

Something like a fully leased small strip mall or office building in a suburban location would be my choice. For example:

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[yuwei0913]

If I have to compare Arlington and Somerville, which one do you think will have better return?

[yuwei0913]

Originally Posted by gf2020

Honestly, with $800K to spend, I would look at commercial property not residential property for investment purposes.

Something like a fully leased small strip mall or office building in a suburban location would be my choice. For example:

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Thank you, this is just my personal think. I have a feeling that there will be less and less demand in future with the quick development on internet meeting and home office.

[jayyz]

between arlington and somerville, I like somerville better. You post an room for rent on craigslist and you get at least 50 emails about it. So easy to rent out. You might also want to consider Jamaica plain.