September 30, 2020 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a three-unit Multi-Family building in Somerville, Massachusetts. The duo exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,552,500, which is $517,500 per unit.
The three-story building is located at 49-51 Pickney Street in Somerville, Massachusetts. The property contains three (3) units consisting of two (2), 2-Bedroom/1-Bathroom units and one (1), 1-Bedroom/1-Bathroom unit in 3,291 square feet of gross living area on a 0.09-acre parcel. The Property features hardwood floors throughout and there is a garage in the back of the driveway. 49-51 Pinckney Street is exceptionally well-located in the East Somerville neighborhood, just one mile from the popular shopping, dining, fitness and entertainment options at Assembly Row and half a mile from the MBTA’s Sullivan Square Station. The highly-walkable neighborhood offers a multitude of appealing live-work-play amenities, convenient public transportation and highway access, as well as proximity to the nearby commercial centers of Harvard Square, Kendall Square and Downtown Boston. The property is also just 1-mile from the new Union Square MBTA Green line station, and the 2.4 million square foot redevelopment. An impressive 43,000+ people live within a 1-mile radius of the Property with an average household income of $116,000.
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.