March 23, 2023 – Ryan Benton, Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a 31-unit mixed-use property in Framingham, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $5,025,000.
40-76 Hollis Street consists of two adjacent mixed-use buildings with a total of thirty-one (31) units comprised of sixteen (16) residential units, fourteen (14) commercial units, and one (1) flex space unit. The residential units feature four (4), 1-Bedroom/1-Bathroom units and twelve (12), 2-Bedroom/1-Bathroom units. The Properties have a combined gross area of 71,738 square feet and are situated on 0.68-acres of land. 40-76 Hollis Street is well-located with excellent access to all the amenities the area has to offer. The properties are well-positioned within downtown Framingham, are within walking distance of several area schools and are a short drive from the area’s commercial center at the intersection of Cochituate Road and Concord Streets. The Properties are just 0.2 miles from the Framingham stop on the MBTA Commuter Rail, 0.7 miles from the MetroWest Medical Center, and 2 miles from Framingham State University’s main campus. The Properties are surrounded by several new, high-end developments including Alta Union House, Amsden Apartments, Bancroft Lofts, Denison Bishop Apartments, 68 South Street, and 82 Concord Street. Downtown Framingham also features an appealing mix of national retailers and local, ethnic shops and 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.