July 20, 2018 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of 131-137 Second Street in Cambridge, Massachusetts. The apartment building sold for $2,550,000, $637,500 per unit and $690/foot.
131-137 Second Street is situated in East Cambridge in a great urban infill location. The property is just a short walk to MIT and Kendall Square, one of the most prominent hubs of technology, biotechnology and innovation in the world. Multiple public transportation options are also located within short walking distance from the property, including the Green Line at Lechmere Station 0.3 miles to the north and the Red Line at Kendall Square/MIT Station, 0.5 miles to the south.
The two-story building is located on a .07-acre lot and contains 4 units in 3,696 rentable square feet plus an 1,800 square foot unfinished, developable basement. The Property contains four total units consisting of two, 2-bedroom units and two, 2-plus bedroom units. Each unit features its own separate entrance and rear porches. There is also off-street parking for tenants located at the rear of the property.
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.