January 3, 2022 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a sixteen (16) 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 $9,000,000, which is $562,500 per unit.
The property is located at 303 Harvard Street in the Mid-Cambridge area of Cambridge, Massachusetts. The three-story, brick building contains sixteen units and is comprised of twelve (12), 1-Bedroom/1-Bathroom units and four (4) Studio units, with 14,908 square feet of living area, in 18,520 square feet of gross area, on a 0.16-acre parcel. The Property has excellent curb appeal with a well-maintained building and grounds, and offers on-site laundry and on-site storage for tenants. Each unit is separately metered for electricity, which the Tenants can pay directly. Situated in an incredible urban infill location at the intersection of Harvard Street and Lee Street, the Property is a short walk from Central Square and the Central Square T-Station, Inman Square, and Harvard Square and the Harvard Square T-Station. The Property is also a short walk from the Kendall Square commercial district, one of the most prominent hubs of technology and life-science firms in the world. In addition to the numerous employers are a myriad of shopping, dining, entertainment and public transportation options, all of which make Kendall Square one of the most sought after and desirable places to live in the region. Apartment demand in the neighborhood is driven by a diverse mix of families, young professionals, blue-collar workers, and the graduate students, employees and faculty from nearby Harvard University and MIT. Cambridge consistently rates as one of the best real estate markets in the region due to its high-density neighborhoods, quality-of-life amenities, public transportation access, educational institutions and proximity to the employment centers of Kendall Square 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.