September 29, 2023 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a 4-unit Multi-Family Property in Waltham, Massachusetts. The duo exclusively represented the seller to complete the transaction at a sale price of $1,160,000.
The Property is located at 172-174 Newton Street in Waltham, Massachusetts and consists of a two-story building with four residential units consisting of one (1), 3-Bedroom/1-Bathroom unit, two (2), 2-Bedroom/1-Bathroom units, and one (1), 1-Bedroom/1-Bathroom unit with 3,367 square feet of living area in 5,988 square feet of gross area, on a 0.19-acre parcel. The 4-unit asset has undergone recent capital upgrades including a new roof and updated electrical. The opportunity exists to increase the bedroom counts by finishing the bedrooms located on the top floors inside units 174-1 and 174-R as well as increasing the overall rent by programmatic upgrades to the units’ interiors. Additionally, there is ample off-street parking along the side of the property as well as the rear. Located in Waltham’s South Side neighborhood, the location offers unparalleled access to Downtown Waltham, both Brandeis University and Bentley University and just ½ mile to the Waltham MBTA Station (Fitchburg Line). Adding to the areas appeal and located steps from the 172-174 Newton, Edison on The Charles is a new, 200 plus unit luxury apartment building offering luxurious finishes and fixtures and enhanced by resort-inspired amenities. 172-174 Newton Street offers the rare opportunity to acquire a well-located asset with value-add potential in one of the strongest real estate markets in a region that is poised for future growth. The Property is located 10 miles to the west of Boston and 2 miles from both I-90 (the “Mass Pike”) and I-95 (Route 128) offering convenient access to Boston, Cambridge, and the Route 128 Technology Corridor.
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.