108-110WebsterPrint

GRIFFITH | PEPDJONOVIC

4-UNIT LUXURY BUILDING | EAST BOSTON, MA

108-110 Webster Street

INVESTMENT SUMMARY

108-110 Webster Street is a newly renovated 4-unit multi-family located in East Boston. The building is
comprised of (4) one bedroom, 1 bathroom units. The property has significant upside by renting out the
vacant units at market rates.

East Boston has seen massive development with over 2,000 new apartment units completed within the past
5 years. Another 10,000 units are currently under development and will be delivered in the next few years.
Slip65 Condominiums sold all 80 units in under two months.

In recent years, East Boston has become home to a wave of young professionals seeking residence in
Boston in newly renovated condominiums along Jeffries Point, Maverick Square, and the Eagle Hill
Waterfront. East Boston has several Blue Line stations and has quick access into Boston through the Ted
Williams Tunnel located nearby.

4 UNIT MULTI-FAMILY TRANSIT-ORIENTED
LOCATED IN EAST LOCATION WITHIN A 5 MIN.
BOSTON WALK TO BLUE LINE

LOCATED NEAR I-90 AND VALUE-ADD OPPORTUNITY
LOGAN AIRPORT BY LEASING VACANT UNITS

108-110 WEBSTER ST. BOSTON, MA 2

GRIFFITH | PEPDJONOVIC 3

AREA MAP

CHARLESTOWN BOSTON EAST 108-110 WEBSTER

NORTH END A newly finished, 200 unit
DOWNTOWN mixed-use development
comprised of studio-three
108-110 WEBSTER ST. BOSTON, MA 4
bedroom apartments with
underground parking.

CLIPPERSHIP WHARF

The new apartment complex
at Clippership Wharf will

include 478 residential units
with ground retail space set to

arrive early 2019.

PORTSIDE EAST PIER

291,000 SF apartment
development featuring 296
luxury apartments across five
buildings with an underground

parking garage.

LOGAN AIRPORT LOCATION OVERVIEW

East Boston features high accessibility
through I-90 with the Ted Williams
Tunnel taking commuters straight
into Boston. The MBTA’s Blue Line has
several stops in East Boston including
Maverick, Airport, Wood Island, Orient
Heights, and Suffolk Downs. Logan
Airport is located less than one mile
away. The area has seen massive
development with many new
apartment complexes and future
projects planned.

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THE

FASTEST

GROWING

MARKET

20 MILLION
SF OF NEW

DEVELOPMENTS

Suffolk Downs
Redevelopment

A Billion Dollar Project

HYM Investment Group acquired Suffolk Downs for $155
million in May 2017 and got approval to construct active
uses including residences, retail, office and lab space,
hotel space and accessory parking. Residences would
include townhomes, apartments, condominiums and
senior housing. A total of 16.5 million square feet of
space would be constructed, including 11 million in
Boston and 5.5 million in Revere. Construction would
likely cost over $1 billion.



ARRIVING EARLY 2019

Clippership Apartments on the Wharf brings an elevated IYmomuresreslef
waterfront experience to Boston Harbor offering a
selection of 478 studio, 1, 2, and 3 bedroom apartments. Imagine a new way of living at Clippership
Wharf. Enjoy luxe living on beautiful
Boston Harbor with incomparable access
to downtown via Water Taxi or on the
MBTA’s Blue Line. Boston’s newest
Waterfront Apartments put you in the
middle of everything.

Just beyond your doorstep is a morning
run along the East Boston Greenway or a
sunset kayak trip on the Harbor. In
between, grab a slice at Santarpio’s or hit
the Watershed for a taste of what’s new
on the art scene. This is Boston and
waterfront living at its finest.

Discover the newest luxury apartments in
East Boston. Rising alongside our
spectacular Meridian Collection, our new
Beacon Collection is giving you even more
reasons to go east. Follow your heart to a
home overflowing with style and amenities,
in a neighborhood filled with places to
discover. It’s East Boston. But when you
live at Portside at East Pier, you’ll just call it
home.

Are you ready to go exploring? At Portside
at East Pier, we’ve doubled our number of
amenities, adding all kinds of brand new
spaces. With the new arrival of our Beacon
Collection, you can take a dip in an indoor
pool, hang out on a rooftop deck, try your
skills on a golf simulator and find everything
else you could want. Whether you choose
to live in our Meridian Collection or in our
brand new Beacon Collection, you’ll have
access to all our amenities.

NOW LEASING

WATERFRONT APARTMENTS

Plenty to Discover

Whether you want to walk the waterfront, explore the outdoors
or experience some of the best food in Boston, there’s plenty
of action to be had in the East. With some of the best ethnic
restaurants in all of Boston (and yes, pizza is technically ethnic),
you’d be hard pressed to find a neighborhood with better “mom
and pop” options.
And if you should need to get somewhere else in Boston, or the
world for that matter, you can walk a half a block and hop the
T at Maverick Station. From there, both the airport and the city
are just one stop away. What else? We’ll leave the fun of
discovering the rest of the area to you.

GREATER BOSTON METRO

Steeped in history, the Boston metro spans
4,128 square miles across Essex, Middlesex,
Norfolk, Plymouth and Suffolk counties in
Massachusetts, and Rockingham and
Strafford counties in southeastern New
Hampshire. The region is home to
approximately 4.8 million individuals and
accounts for nearly 70 percent of all
Massachusetts’ residents. Boston is the most
populous city in the metro with roughly
675,200 citizens. It is located along the
Atlantic seaboard and fronts Boston Harbor.
Boston has transitioned from a manufacturing
hub to one of the top innovation, healthcare
and education centers of the world. The metro
is home to a thriving startup ecosystem,
with medical research at world-renowned
institutions such as Harvard and MIT at its
core.

108-110 WEBSTER ST. BOSTON, MA 14

4.8M $82K #3

GREATER BOSTON HOUSEHOLD INCOME HIGHEST INCOME PER
POPULATION IN GREATER BOSTON CAPITA IN THE US

1.9M 3.1% 500K

GREATER BOSTON UNEMPLOYMENT COLLEGE STUDENTS IN
HOUSEHOLDS RATE GREATER BOSTON

100+ 16M+ 36M

LEADING EDUCATION VISITORS TO BOSTON PASSENGERS OUT
INSTITUTIONS AND CAMBRIDGE OF LOGAN AIRPORT

130+ #1

HOSPITALS IN STATE IN THE US BY
GREATER BOSTON US NEWS AND WORLD

REPORT

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FINANCIAL ANALYSIS

DETAILED RENT ROLL

Unit Unit Type Year 1 Rent/Month Year 1 Rent Per Year

1 1 Bedroom / 1 Bath $2,100 $25,200
2 1 Bedroom / 1 Bath $2,100 $25,200
3 1 Bedroom / 1 Bath $2,100 $25,200
4 1 Bedroom / 1 Bath $2,100 $25,200
Total $8,400 $100,800

108-110 WEBSTER ST. BOSTON, MA 16

FINANCIAL ANALYSIS Year 1 Per Unit Per SF

OPERATING STATEMENT $100,800 $25,200 $42.35
($3,024) 3.0% ($756) 3.0% ($1.27)
Income ($3,024) 3.0% ($756) 3.0% ($1.27)
$41.08
Gross Current Rent $97,776 $24,444
Physical Vacancy Per SF
Total Vacancy Year 1 Per Unit
Effective Gross Income $$3.42
$8,132 $$2,033 $$1.48
Operating Expenses $3,500 $$875 $$0.84
$2,000 $$500 $$0.84
Real Estate Taxes $2,000 $$500 $$0.42
Insurance $1,000 $$250 $$2.05
Utilities - Water & Sewer $4,889 (5.0%) $$1,222 (5.0%) $9.04
Repairs & Maintenance $21,521 $5,380
Operating Reserves 22.0% $32.04
Management Fee $76,255 $19,064
Total Expenses
Expenses as % of EGI
Net Operating Income

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PRICING ANALYSIS $1,750,000

$1,700,000 $735.29 PSF
4.36% CAP RATE
$714.29 PSF $437,500/UNIT
4.45% CAP RATE
$425,000/UNIT $1,800,000 $1,850,000

$1,650,000 $756.30 PSF $777.31 PSF
4.23% CAP RATE 4.12% CAP RATE
$693.28 PSF $450,000/UNIT $462,500/UNIT
4.62% CAP RATE
$412,500/UNIT

HIGHER PROBABILITY LOWER PROBABILITY

PRICING RANGE Price Per Square Foot Year 1 Cap Rate Price Per Unit

Purchase Price $777.31 4.12% $462,500
$756.30 4.23% $450,000
$1,850,000 $735.29 4.36% $437,500
$1,800,000 $714.29 4.45% $425,000
$1,750,000 $693.28 4.62% $412,500
$1,700,000
$1,650,000

108-110 WEBSTER ST. BOSTON, MA 18

MARCUS & MILLICHAP
PREMIER INVESTMENT SERVICES

Marcus & Millichap is the premier commercial real estate investment services firm in the United
States. Founded in 1971 on a unique model that matches each property with the largest pool of
pre-qualified investors, we leverage four decades' worth of experience and relationships to
handle all of your commercial real estate needs. Our team of more than 1,800 professionals in
the U.S. and Canada focuses exclusively on real estate investment sales, financing, research, and
advisory services.

Founded in 1971 Largest pool of Moves capital More than 1,800
on a unique pre-qualified across our investment
methodology network of
investors investment professionals in the
in the industry U.S. and Canada
professionals

GRIFFITH | PEPDJONOVIC 19

Marcus & Millichap PREMIER ACCESS TO INVESTOR PROFILES

MARKETING STRATEGY FOREIGN & INTERNATIONAL BUYERS

Our comprehensive marketing plan gives you Foreign investors seeking domestic opportunities and
access to the full spectrum of investment profiles, technology enablers that direct foreign demand.
with a special emphasis on
cross-product and 1031 1031 EXCHANGE BUYERS
exchange capital.
Investors seeking acquisition opportunities for capital
108-110 WEBSTER ST. BOSTON, MA 20 gains tax deferral.

CROSS-PRODUCT CAPITAL

Opportunistic investors seeking diversification in other real
estate property types.

1ST TIER INVESTORS

Pension funds, advisors, banks, REITs, and life insurance
companies.

2ND TIER INVESTORS general

Syndicators, developers, merchant builders,
partnerships and professional investors.

3RD TIER INVESTORS

Private, individual investors who account for the majority
of transactions in the marketplace.

MAXIMUM EXPOSURE CREATES MAXIMUM VALUE

FOREIGN & INTERNATIONAL BUYERS

As the leader in annual investment sales transactions, Marcus & Millichap attracts
foreign capital to our firm as the conduit to the nation’s largest exclusively listed
inventory. Foreign investors seek our advice, market reach and long-standing
client relationships with the industry’s largest pool of buyers and sellers.

1031 EXCHANGE BUYERS

Access the Industry’s largest pool of 1031 exchange buyers, as a result of closing
more transactions annually than any other commercial real estate brokerage
firm.

CROSS-PRODUCT CAPITAL

Our collaborative culture across product types, enabled through MNet, ensures
access to the broadest pool of qualified investors.

1ST TIER INVESTORS

Marcus & Millichap maintains long-term relationships with these investors via
our IPA divisions, national product specialty groups, and more than 400 senior
investment professionals.

2ND TIER INVESTORS

We access via our highly organized national product specialty groups and the
regional and national marketing opportunities they present.

3RD TIER INVESTORS

Specializing exclusively in investment sales, our network of more than 1,800
investment professionals throughout the U.S. and Canada guarantees your
property is exposed to the largest pool of qualified buyers.

GRIFFITH | PEPDJONOVIC 21

Marcus & Millichap

OUR FIRM

In Boston, and across the country, Marcus & Millichap is an industry leader
due to the quality of our research and the depth and breadth of our team. Our powerful
national platform exposes each property to the largest pool of qualified investors and
enables us to annually close the largest number of real estate investment transactions
nationally.
2017 Numbers

8,995 1,819+ 1,652 $47.4B
VOLUME
TRANSACTIONS PROFESSIONALS CAPITAL MARKET
TRANSACTIONS

OVER 80

Offices in
U.S. & Canada

108-110 WEBSTER ST. BOSTON, MA 22

3,500+ 1031 #1 TEAM

UNITS SOLD EXCHANGE SPECIALISTS BOSTON OFFICE (2016-2018)

GRIFFITH | PEPDJONOVIC

Evan Griffith and Tony Pepdjonovic lead the top-producing team in the Boston Marcus & Millichap office. Evan and
Tony have formed a collaborative investment sales team focusing on the New England market. They are dedicated to
being relationship-oriented with the crux of the team’s focus on multi-family, mixed-use buildings as well as guiding
clients through the 1031 exchange process.
The team’s foremost goal is to exceed the expectations of each client, deliver superior results and solidify strong
lifetime relationships. Griffith & Pepdjonovic are known for their honesty and integrity and take pride in their many
repeat clients.

GRIFFITH | PEPDJONOVIC 23

EVAN GRIFFITH TONY PEPDJONOVIC GRIFFITH | PEPDJONOVIC

First Vice President Investments Senior Associate
Boston Office Boston Office

Tel: 617.896.7221 Tel: 617.896.7277
Fax: 617.701.7019 Fax: 617.701.7019
[email protected] [email protected]