July 13, 2022 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of 67-69 Webster Avenue, an 8-unit apartment building in Chelsea, Massachusetts. Horvath & Tremblay exclusively represented the seller and the desirable asset sold for $1,765,000.
67-69 Webster Avenue is an eight-unit multi-family investment property located in Chelsea, Massachusetts. The Property is comprised of eight (8), 2-Bedroom/1-Bathroom units with 6,840 square feet of living area in 7,269 total square feet on a 0.11-acre parcel. The buildings utilities are separately metered (tenants are responsible for their own heat (electric), hot water (electric) and electric. 67-69 Webster Avenue has been well maintained and building amenities include a coin-op laundry room and large rear yard creating outdoor space in an urban setting for tenants of the property. While the building is fully occupied, there is an opportunity to create additional value by converting the third-floor units into 3-Bedroom units, generating higher revenue at the Property. Situated adjacent to the intersection of Webster Avenue and Broadway, the area’s primary commercial corridor in the heart of downtown Chelsea, 67-69 Webster offers convenient access to US Route 1 (Northeast Expressway) and MA Route 16 (Revere Beach Parkway) as well as Interstates 90 and 93. Public transportation is readily available just steps from the Property along Broadway, with MBTA buses providing regular service, and Train Service from the Chelsea Station on the MBTA Commuter Rail (Newburyport/Rockport Line), and service along the MBTA’s silver line. The Property is close to area shopping and offers numerous dining options and entertainment venues. Additionally, the Property enjoys close proximity to Downtown Boston (6 miles) and Boston’s Logan International Airport (4 miles).
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.