Allston Real Estate
Allston is a kinetically active area just outside of Boston proper, bordered by the Charles River, Brookline, Boston and Brighton. Known for its incredible variety of restaurants and night spots, Allston can be divided into several distinct areas – Allston Village, Lower Allston, BU West Campus, and the area that borders Brookline at the intersection of Comm Ave and Harvard Street.
Often Brighton and Allston are considered together as “Allston-Brighton” and administered together by the City of Boston, but the areas are actually quite different. Allston is home to 1000’s of students, mainly attending Boston University, but also Berklee School of Music and many other school throughout the city. There is probably no area of Boston with Allston’s density of eateries, particularly small international restaurants – Thai, Vietnamese, Malaysian, Brazilian, Mexican, Taiwanese, Korean, just to name a few. Then there are dozens of night spots – including the well-known music venue Harper’s Ferry.
Real estate in Allston is predominantly comprised of multi-unit investment properties, but Lower Allston also has quite a few single and 2 family homes. One issue for buyers in the area is to pay close attention to owner occupancy in condo buildings, since so many units in Allston are held for investment due to the high rental values in the area. Allston is an excellent choice if you are looking for investment property because the rents are relatively high, demand is very strong, and prices are lower than in neighboring Brookline, Boston or Cambridge.