July 30, 2021 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of The Woodbridge, a 13-unit multi-family property in Cambridge, Massachusetts. The duo exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $6,350,000, which is $488,462 per unit.
The property is located at 7-9 Woodbridge Street in Cambridge, Massachusetts. The three-story, brick building contains thirteen (13) residential units consisting of seven (7), 2-Bedroom/1-Bathroom units and six (6), 3-Bedroom/1-Bathroom units in 11,543 square feet of living area (14,742 gross square feet) on a 0.22-acre corner parcel. The investment property, under one ownership for decades, has been well maintained and offers rare off-street parking for nine (9) vehicles. The property features separate, forced hot air heating systems and central air-conditioning for all units, separate electric, hardwood floors, and features an on-site coin operated laundry facility in the basement. Additionally, 12 of the 13 units feature private, covered porches. The opportunity exists to drive rental rates through upgrades and renovations to the units, including the ability to convert six of 2-Bedroom units into 3-Bedroom units. The Woodbridge is exceptionally well-located just 100 feet from Massachusetts Avenue (MA Route 2), 1/3-mile from Davis Square Station, and 3/4-miles from Porter Square Station, both with service on the Red Line and offering popular retail, dining, nightlife, and entertainment options. Additionally, the Property is 1-mile from the Fresh Pond Mall which is home to national retailers like Whole Foods, TJ Maxx, Home Goods, McDonald’s and more. The highly walkable neighborhood offers a multitude of appealing live-work-play amenities, convenient public transportation, and proximity to the nearby commercial centers of Harvard Square, Kendall Square, Alewife and Downtown Boston.
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.