February 22, 2019 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of 29 Portsmouth Street in Cambridge, Ma for $3,618,000 at a 4.4% cap rate.
29 Portsmouth Street, situated just outside of booming Kendall Square, is a 3-story, 6-unit apartment building with 6,486 of livable area on a 0.8 acre lot. The property, situated on a high-density residential street, is located in close proximity to numerous corporate employers, attractive shopping, dining, entertainment and public transportation options as well as the Massachusetts Institute of Technology (MIT). 29 Portsmouth features three, 2-bedroom units and three, 3-bedroom units, separate utilities and newer roof and windows.
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.