The Baker Chocolate Factory Apartments have just been sold for $24.1 Million. Purchased by the California-based multi-family real estate company known as Fairfield Residential, this property located in Bostons Dorchester neighborhood consists of 133 units and can be found at 1220 Adams Street.
There are three historic mill buildings on the site, which throughout time have been constantly renovated since their construction in the late 1800s. Initially the headquarters of the Baker Chocolate Company, this visually beautiful landmark was converted into apartments in the 1980s.
This address was now formerly owned by Beacon Communities of Boston who back in 2008 purchased the complex for $10.6 Million. The property was then heavily renovated with everything from conversions from oil to gas heat and hot water, to seeing it undergo extensive common area upgrades. Some of the community amenities include the units having elevator access, a lovely fitness center on the property, quaint courtyards, a picnic area along the Neponset River, and more.
Rents in the building start at $1,600/month for a one-bedroom, with two-bedrooms beginning at $2,100/month. The units themselves feature stunning countertops, white lacquer finished cabinets, stainless steel appliances, vinyl plank wood-look flooring, exposed brick walls, oversized windows, 9-12 ceiling heights, and gorgeous views of the Neponset River and surrounding area. With news of this closing, it is certainly justifiable that our local real estate market continues to be one that is defined as incredibly active and booming already just weeks into the New Year.
More Information: Boston Business Journal