December 8, 2020 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a 4-unit Multi-Family building in South Boston, Massachusetts. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $3,025,000, which is $756,250 per unit.
564 East Broadway, constructed in 1910, is a desirable, mid-rise building contains one retail unit at street-level and three residential units consisting of three (3) 4-Bedroom/1-Bathroom units. The Property is fully stabilized and since acquisition in 2017 has undergone extensive renovations, including new kitchens and bathrooms in units 3 and 4 with modern amenities, brand new heating systems in all units as well as central air in the fully remodeled office space, upgraded electrical service and hardwood floors throughout. The opportunity exists to legalize a basement apartment. Currently vacant, the basement apartment would be a walkout in which you enter and exit onto H Street. 564 East Broadway is situated in an exceptional urban location in South Boston on one of the main streets in the neighborhood. The East and West sides of Broadway offer countless amenities, with endless dining, retail, and nightlife options, and an MBTA bus stop right in front of the Property. The location offers convenient access to Boston’s best areas, including the Seaport District, Downtown Boston, Back Bay, the North End, and the South End.
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.