March 16, 2018 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a 6-unit apartment building located at 241 School Street in Somerville, Massachusetts. Kelleher and Pentore exclusively represented the seller and procured the buyer to close the property at a sale price of $1,650,000.
241 School Street is centrally located in the high-density Winter Hill neighborhood and offers easy access to multiple bus routes, numerous shopping, dining and entertainment options and outdoor recreation space. The outstanding location offers quick access to Downtown Boston, Kendall Square, Interstate-93, Tufts University, Harvard University, MIT and the new Assembly Square lifestyle center. The multi-family Property is located on a 0.19-acre corner lot and contains 6-units in 4,258 rentable square feet plus an unfinished basement and off-street parking. The Property is a legal six-unit and contains (2) units on the first floor, (3) units on the second floor and (1) unit on the third floor. The Property was delivered vacant at closing allowing the new investor the opportunity to capitalize on the value-add investment.
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.