July 22, 2021 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of Maple & Adams, a three building Multi-Family Portfolio totaling 24 units in Waltham. The contiguous, heavy value-add properties consisting of all 1-bedroom units closed at a sub 5% cap rate and just under $215,000 per unit.
Located at 95 Adams Street, 23-25 Maple Street and 29-31 Maple Street in Waltham, Maple & Adams consists of three multi-family buildings with a total of 24-residential units in 18,463 square feet of living area (24,382 gross square feet) on 0.63-acres of land with ample off-street parking. 95 Adams Street is a 16-unit brick building; 23-25 & 29-31 Maple Street are two (2), adjacent 4-unit wood framed buildings. The multi-family portfolio is extremely well located along Maple Street and Adams Street in the heart of Waltham. The location offers a multitude of shopping, dining, and entertainment options within a short walking distance and excellent public transportation options for commuters. There is a bus stop at the corner of Moody & Maple and Moody and Ash that offers “Express Bus” service to Back Bay and the Financial District in Boston, and local service to the Waltham Commuter Rail Station, just 0.6 miles away. Waltham is conveniently located between Interstates 95 and 90, and the location also benefits from its proximity to Brandeis and Bentley universities, both within two miles of the Property. Maple & Adams are located 10 miles to the west of Boston and two miles from both Interstate 90 (the “Mass Pike”) and Interstate 95 (Route 128) offering easy access to Boston, Cambridge and many tech and biotech companies along the Route 128 “Technology Corridor”.
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.