April 28, 2023 – Dennis Kelleher, John Pentore and Spencer Norton of Horvath & Tremblay have successfully completed the sale of 132-134 Cottage Street, a 4-unit apartment building in Chelsea, Massachusetts. Horvath & Tremblay represented the seller and procured the buyer and the desirable asset sold for $1,200,000.
132-134 Cottage Street is a four-unit multi-family investment property located in Chelsea, Massachusetts. The desirable building is comprised of two (2), 2-Bedroom/1-Bathroom units and two (2), 3-Bedroom/1-Bathroom units with 4,496 square feet of living area in 8,112 total square feet on a 0.139-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, which has been sub-metered so that the expense can be passed on to the tenants. Building amenities include a coin-op laundry room, three (3) on-site garages and additional off-street parking in front of the garage spaces. Situated at the intersection of Cottage Street and Willow Street in Chelsea’s east-end neighborhood, the Property offers convenient access to US Route 1 (Northeast Expressway) and MA Route 1A as well as Interstate 90. The Property is close to area shopping and offers numerous dining options and entertainment venues. Additionally, the Property enjoys close proximity to Downtown Boston (4 miles) and Boston’s Logan International Airport (2 miles). Public transportation is readily available just a short walk from the Property along Central Avenue, 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 1.1-miles away. The Property is also 1.1-miles from the MBTA’s Blue Line at the Wood Island Station. 132-134 Cottage Street is 0.5-miles from Broadway, the area’s primary commercial corridor, 1.1-miles from the Mystic Mall and is 3.1-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.