Anyone Investing in Chelsea, MA

[Russell Brazil]

I am originally from Chelsea MA but have lived in the DC metro area for about a decade.  I am just curious if anyone on here in investing in Chelsea MA.  I am curious what that market is like.  I have family members that still live and invest there, but for them it is hard to hear what is really happening there since they have been there their whole lives.  Just curious to get a fresh perspective.  With the gentrification of Charlestown and Somerville, I wonder if that will ever spread across the river to Chelsea, Everett, Revere etc.

[Shaun Reilly]

I am not currently investing there, but I know the area.

My general opinion is that as the areas you mentioned get built up things will creep out and Chelsea is as likely as any place to get some of the action.

Even if it doesn't get a lot of development it will get a boost just because of the lack of affordable housing and rentals in the other outer areas.

I actually did a blog post a few weeks ago on the year over year condo market in Chelsea (Condos since they are like >80% of the SF units in the city).  Short story is the market was pretty flat but DOM was way up.

http://masshomesale.com/2014/10/13/real-estate-tre...

I think this, and lots of other areas, are poised for a dip so it might actually be a good time to think about buying (but only a real deal at this point since we are only stagnant at this point) there. 

[Sean T.]

Originally from Everett.  

I have stayed away from Everett/Chelsea/Revere for a multitude of reasons but with the massive development of large rentals/condos in Boston currently I am very cautious to look here.  Many moons ago I was involved with a 3fam in Everett and was hard to rent unless section 8.  

With Somerville investing in redevelopment and Everett looking to build a casino the traffic is surely going to be a complete nightmare forcing professionals back into Boston/Cambridge and out of the outliers.

Just my 2 cents.

[Mike Hurney]

@Russell Brazil "Comps" and  "Actives"!

Huge NEW apartment complex right after the bridge just went up, which usually provides a fair amount of competition for overpriced EXISTING rentals.

[Flavio Zanetti]

I have started investing in Chelsea (mostly 3 family properties) in the last 2 years after being priced out of Somerville and Medford.

City is going through a lot of renovations and I do think it has a huge potential for appreciation in the next 5-10 years.