Boston is broken up into many different areas. Two areas known as Allston and Brighton are often mentioned together. Not only does Allston and Brighton border each other. Many times it is difficult to know where one ends and the other begins. Allston and Brighton have been known to be a great place to buy an investment property.
One reason why Allston particularly has been a very popular place to buy an investment property is that there is a very strong rental market. Allston apartments have plenty of Boston College and Boston University students looking for housing. As of a result of such high rental demands, the rents in Allston have increased dramatically over the last 10 years. Allston is also serviced by the green line which allows Students and young professionals to jump directly on the train to school or work.
With rents increasing in Allston, more people have decided to move to Brighton to find more affordable housing. There are also a lot of young professionals that want to move away from the college scene and Brighton seems to be a popular choice. Most parts of Brighton are not serviced by the green line, which makes public transportation more difficult. There are express buses that go into downtown Boston which make it attractive to professionals. For the most part, Brighton apartments usually are bigger and are more likely to have parking which post college students want.
If you are looking for a quick turnaround in your investment the Allston Brighton area is probably not right for you. The price to buy an investment property in the Allston Brighton area makes it difficult to flip these properties short term. However, if you are looking for a longer term investment and want rental income, the Allston Brighton area may be a fit. Being a landlord certainly comes with challenges, so make sure you talk to someone you trust prior to jumping into the market.