August 13, 2019 – Dennis Kelleher, John Pentore and Steve Girolamo of Horvath & Tremblay have completed the sale of 6-unit multi-family in Framingham for $1,675,000. The property closed for $279,166 per unit and at a 6.9% cap. The trio represented the seller, Clifton Coburn Realty, LLC and procured the buyer, Scudder Bay Capital, LLC.
2 Coburn Street is a completely renovated, 6-unit apartment building consisting of Five, 3-bedroom units and One, 2-bedroom unit. Renovations include a new roof, siding, windows, a mix of hardwood and luxury vinyl plank flooring, new kitchens, new bathrooms and new appliances and fixtures throughout. The subject property, which also includes 3 tandem spaces and 1 direct parking space, is centrally located on a residential street less than ½ mile to the Framingham Commuter Rail Station. The fully occupied property allows the incoming investor the opportunity to own an apartment building in an up and coming market just outside of Greater Boston.
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.