December 29, 2020 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of an 11-unit apartment building in Watertown, Massachusetts. The duo exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $3,800,000, which is $345,455 per unit.
The property, located at 24 Church Street in Watertown, MA, consists of a three-story, brick-style, apartment building containing 11 units in 11,208 square feet of livable area on a 0.21-acre parcel in the heart of Watertown Square. The Property features ten (10) 1-Bedroom/1-Bathroom units and one office space that is leased to an Acupuncturist. The property also features an underground parking garage with 10 spaces, and two additional on-site parking spaces, attractive landscaping, separately-metered electricity, individual balconies/patios and coin-operated laundry in the basement for all tenants. 24 Church Street is situated in a fantastic urban infill location in an amenity-rich residential neighborhood immediately adjacent to the Watertown Square commercial district. Watertown Square is a lively commercial district with numerous retailers, restaurants, nightlife and public transportation options. The location is only 6 miles from Downtown Boston and is appealing to commuters for its proximity to The Mass Pike (I-90), Storrow Drive and I-95/Route 128.
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.