May 1, 2019 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of 123-129 Second Street in Cambridge, Massachusetts. The apartment building sold for $2,308,000 at $577,000 per unit and $654 per foot.
123-129 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. Adding to the property’s superb location, .5 miles away will be Cambridge Crossing, a 45 Acre development that will include 4.5 million square feet of commercial, retail and residential space.
123-129 Second Street is a value-add, multi-family investment property containing four, 2-bedroom/1bathroom apartments in 3,528 square feet of living area as well as 5.292 of gross area on a 0.07-acre lot. The Property features separate entrances for each apartment, separately metered utilities and a newer roof and windows. The asset allows the investor, YangBingSha USA LLC, the opportunity to own an investment property in one of the strongest rental markets in the country.
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.