October 5, 2018 – Dennis Kelleher and John Pentore of Horvath & Tremblay have arranged the sale of 12-14 West Street in Everett, Massachusetts. The six-unit apartment building sold for $1,770,000, a price per unit of $295,000 and a 5.9% cap rate.
The multi-family property is comprised of five, four-bedroom units and one, three-bedroom unit with separate utilities. Five of the six apartments have been recently renovated and feature new kitchens and bathrooms. The transit-oriented location is within 0.1 mile of Revere Beach Parkway and two miles from US Highway 1. Also located within one mile will be the new Encore Harbor Resort and Casino.
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.