467 Keap Street • Ainslie Tower

This ten-story, elevator-served mixed-use building was constructed in 2009 and features 29 fully occupied residential lofts with soaring 20-foot ceilings, including six affordable units. The property also includes an 8,300-square-foot commercial space with its own elevator, half of which has been recently leased to a high-end gym at $14,000 per month.

The building offers three levels of income-producing parking with 60 spaces, along with the potential to create an additional 6,985 square feet of parking on the second-floor roof. Additional amenities include cellar storage and a loading dock. Benefiting from a 421a tax exemption through July 2038, the property encompasses 77,664 square feet on a 96.08 by 183.33-foot lot.

The asset currently generates a gross annual income of $2,140,574.76 and a net annual income of $1,864,741.18, with a legal residential rent roll of $1,318,460 per year. With the commercial space fully leased, projected total gross income increases to $2,273,142.48. The property delivers an actual cap rate of 6.91%, making it a compelling long-term investment opportunity.