July 28, 2022 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a 304-310 Western Avenue, a 6-unit apartment building in Cambridge, Massachusetts.  The desirable asset sold for $4,700,000 and $783,333 per unit.

Situated in an Incredible, Urban-Infill location less than 1 mile to historic Harvard Square as well as world renowned Harvard University, the Property is a fully-leased, turn key asset in one of the strongest real estate markets in the region.  The property consists of a comprehensively renovated three-story building containing four (4) 3-Bedroom/2-Bathroom units and two (2) 3-Bedroom/2.5-Bathroom units with 6,487 square feet of living area in 9,196 gross square feet on a 0.12-acre corner parcel.  The asset is fully occupied and features condo quality finishes of the unit’s interiors including new kitchens with modern finishes (quartz countertops, new cabinetry, stainless steel appliances, dishwashers, and disposals), new bathrooms, new hardwood flooring, new forced-air heating systems and central air conditioning systems with nest thermostats as well as Rinnai tankless hot water systems. Tenant amenities include a common laundry room, rear decks and a tandem parking spot at the rear of the property. Each unit is separately metered for utilities including electric and gas heat and hot water, which the tenants all pay directly. Additionally, the building features a new roof and is fully sprinklered. 304-310 Western Avenue is located at the intersection of Western Avenue and Montague Street and is a short walk from Central Square and the Central Square T-Station (0.5-miles), Harvard Square and the Harvard Square T-Station (0.8-miles) and Inman Square (1-mile). 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 and blue-collar workers, as well as the graduate students, employees and faculty from nearby Harvard University and MIT.

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.