August 7, 2023 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of 148 Walnut Street, a 3-unit multi-family building in Chelsea, Massachusetts. Horvath & Tremblay represented the seller and procured the buyer and the desirable asset sold for $995,000.
148 Walnut Street is a three-unit multi-family investment property located in Chelsea, Massachusetts. The desirable building contains three (3) total units comprised of two (2), 3-Bedroom/1-Bathroom units and one (1) 2-Bedroom/1-Bathroom unit with 3,735 square feet of living area in 5,151 total square feet on a 0.033-acre parcel. The 3-Bedroom units feature a room for a home office as well with the opportunity to convert into a fourth bedroom, if desired. The Property has been completely gut-rehabbed and enjoys condo-quality finishes throughout. All of the floors (except in the bathrooms) are vinyl plank, each of the kitchens have granite countertops, stainless-steel Amana appliances including dishwashers and disposals, gas ranges and microwaves. All of the bathrooms feature new vanities with granite countertops, Delta faucets, American Standard toilets, and tile flooring. Additionally, the Property features a new Roof, Windows, Electrical System and Navien Tankless Combi-Boiler Systems for Heat and Hot Water. There is also a coin-op laundry room as well as individual storage units in the basement for the tenants. Situated along Walnut Street in the heart of Chelsea, a high-density urban-infill city just northeast of downtown Boston, the Property is exceptionally well positioned one block from US Route 1 and seconds from Broadway, one of the area’s primary commercial corridors.148 Walnut 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 across the street from the Williams Jr High School, close to area shopping and offers numerous dining options and entertainment venues. Public transportation is readily available just steps from the Property along Everett Avenue and Arlington Street, 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 0.35-miles away. Additionally, the Property enjoys close proximity to Downtown Boston (5 miles) and Boston’s Logan International Airport (3.25 miles).
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.