September 30, 2020 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a three-unit Multi-Family building in Allston, Massachusetts. The duo exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,200,000, which is $400,000 per unit.
The three-story building is located at 46-48 Ridgemont Street in Allston, Massachusetts and contains three (3) units consisting of two (2), 2-Bedroom/1-Bathroom units and one (1), 1-Bedroom/1-Bathroom unit in 3,062 square feet of gross living area on a 0.18-acre parcel. The property features separate utilities for each unit and a large outdoor area for the tenants. Additionally, the oversized units offer the potential to convert the existing 2-bedroom units into 3-bedroom units. The Property is situated in an excellent urban location in the heart of the densely populated Allston-Brighton neighborhood of Boston. The Property is next to St. Elizabeth’s Medical Center, just over a mile from Boston University, and half a mile from Boston Landing, a 15-acre mixed use development adjacent to the New Balance World Headquarters Building. 46-48 Ridgemont Street is less than half a mile from the MBTA Green Line Stations at Warren Street and Allston Street. The Property is conveniently located near the Massachusetts Turnpike (I-90) and is a short walk to Brighton and Commonwealth Avenues and Cambridge Street, which feature bus stops on several MBTA Bus Routes. An impressive 70,000+ people live within a 1-mile radius of the Property with an average household income of $86,500.
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.