September 16, 2022 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a 72 East Brookline Street, a 4-unit apartment building in Boston, Massachusetts. The desirable asset sold for $2,425,000 and $606,250 per unit.
Situated in an Incredible South-End location the property consists of a three-story building with four (4) units, comprised of three (3) 2-Bedroom/1-Bathroom units and one (1) 1-Bedroom/1-Bathroom unit with 2,880 square feet of living area on a 0.045-acre parcel. 72 East Brookline features a desirable brick construction and has been well-maintained by current ownership. Each unit has central AC, in unit laundry, a dishwasher, and hardwood floors. Three of the four units have stone or granite countertops. Residents benefit from four tandem parking spaces and one of the units has a patio. In-place leases are well below market rates, offering the ability to significantly drive income by bringing rents up to market in a densely-populated, high demand area. 72 East Brookline Street is situated in an exceptional urban location in the South End neighborhood of Boston. The Property is located in the heart of “SoWa” (South of Washington Area), one of the most renowned art districts in the country with incredible access to unique restaurants, trendy boutiques, art galleries and nightlife. The Back Bay, Copley and Broadway T-stations are all less than a mile from the Property. The location offers convenient access to Boston’s Best Areas, including the Seaport District, Downtown Boston, Back Bay, Fenway Kenmore, South Boston and the North End. The Property is just 240 feet from Harrison Avenue, one of the primary roads in the neighborhood that has seen considerable development over the last decade. This excellent location offers convenient access to six T-Lines (Green B, C, D, E-lines, Red Line and Orange Line) and is a short walk from the SoWa Open Market (award-winning festival and Boston’s largest celebration of local art, food and music, running from May to October), the Boston Opera House, Boston Medical Center, the Boston Center for the Arts, as well as to some of the city’s most critically-acclaimed restaurants.
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.