September 22, 2020 Dennis Kelleher and Jason Kulik of Horvath & Tremblay have successfully completed the sale of a 6-unit Multi-Family property in Quincy, Massachusetts. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,610,000, which translates to a 6.24% Cap Rate and $268,333 per unit.
126 Main Street, completely renovated in 2020, is a desirable multi-family building comprised of 4,980 livable square feet (9,073 gross square feet) spread over three floors and sits on 0.14 acres of land. The building consists of one (1) one-bedroom, one-bathroom unit, four (4) two-bedroom, one-bathroom units, and one (1) two-bedroom, two-bathroom unit. The property is fully stabilized and has a new roof, new decks, updated electrical and plumbing systems, and new kitchens and bathrooms with modern amenities throughout the property. 126 Main Street is located in a densely populated residential neighborhood southeast of Quincy Center. The property enjoys a transit oriented location, approximately 0.9-miles from the Quincy Center MBTA Station. The location offers convenient access to Route 3A, Interstate 93, Commuter Train and Red Line Service, as well as local MBTA bus service on Washington Street.
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.