November 1, 2016 – Dennis Kelleher and John Pentore, of Horvath & Tremblay, have arranged the sale of 83 Newton Street in Somerville, Massachusetts. The apartment building closed at a sale at a price of $1,240,000 and a price per unit of $310,000.
83 Newton Street is situated in an excellent urban location, just steps over the Cambridge border. The property is centrally located to both Union Square (6 minute walk), Inman Square (6 minute walk), and historic Harvard Square (26 minute walk). Diverse, vibrant and artistic, Union Square is alive with activity and will soon be home to a new MBTA Green Line T stop. Nestled within a community of single and multifamily houses along Newton Street, the property consists of 4,034 square feet of living area and offers an attractive unit mix of (2) two-plus bedroom/one bathroom units and (2) two bedroom/one bathroom units, each separately metered for gas heat, hot water and electric. In addition, the property includes a Landlord owned, coin-operated laundry in the basement.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.