July 18, 2017 – Dennis Kelleher and John Pentore, of Horvath & Tremblay, have arranged the sale of a multifamily building located at 46 South Street in Somerville, Massachusetts. The 6-unit property sold for a price of $1,625,000 and a price per square foot of $445.
46 South Street is set in an excellent urban location on a corner parcel at the intersection of South Street and Harding Street in a densely populated residential neighborhood of Somerville. This outstanding location offers quick access to downtown Boston as well as a plethora of shopping and dining amenities, public transportation options and commercial centers. Located a block from the Cambridge-Somerville line, the Property is .5 miles to both the thriving commercial district of Kendall Square and the lively restaurants, shopping and entertainment options of Inman Square. The location is also just two blocks from multiple MBTA bus lines along Cambridge Street and a ten minute walk to the MBTA’s green line station at Lechmere. The value add property offers the investor an attractive unit mix of three, one bedroom, one bathroom units and three, two bedroom, one bathroom units in one of the strongest rental markets in New England. Kelleher and Pentore represented the seller, Faber Properties LLC and procured the buyer, Torrington Properties.
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.