May 8, 2023 – Dennis Kelleher, John Pentore and Spencer Norton of Horvath & Tremblay have successfully completed the sale of 237 Chestnut Street, a 3-unit multi-family building in Chelsea, Massachusetts. Horvath & Tremblay represented the seller, and the desirable asset sold for $900,000.
237 Chestnut Street is a three-unit multi-family investment property located in Chelsea, Massachusetts. The desirable building is comprised of three (3), 3-Bedroom/1-Bathroom units with 3,515 square feet of living area in 4,774 total square feet on a 0.043-acre parcel. The building’s utilities are separately metered for electricity, heat, and hot water which the tenants pay directly while the landlord is responsible for domestic water and sewer. The building has been well maintained and features a coin-op laundry room. Situated along Chestnut Street in the heart of Chelsea, a high-density urban-infill city just northeast of downtown Boston, the Property is exceptionally well located one block from Broadway, the area’s primary commercial corridor. Ideally positioned between US Route 1 and Broadway, 237 Chestnut Street offers convenient access to US Route 1 (Northeast Expressway) and MA Route 16 (Revere Beach Parkway) as well as Interstates 90 and 93. The Property is close to area shopping and offers numerous dining options and entertainment venues. Additionally, the Property enjoys close proximity to Downtown Boston (5 miles) and Boston’s Logan International Airport (3 miles). Public transportation is readily available just steps from the Property along Washington Avenue and 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 just 0.5-miles away. 237 Chestnut Street is 0.5-miles from the Mystic Mall, 1-mile from Parkway Plaza Shopping Center and is 2.5-miles from the Gateway Center, anchored by Costco, Home Depot & Target, and the new Encore Boston Harbor Resort & Casino.
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.