May 15, 2024 – Nick Bevilacqua, Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a 24 Telegraph Street, a vacant 3-unit apartment building in South Boston, Massachusetts. The desirable asset sold for $1,301,000.
Situated in an excellent, urban infill location in South Boston, 24 Telegraph Street is only 0.5 miles to Andrew Station and 1.9 miles to Boston’s South Station. The Property offers the rare opportunity to acquire an outstanding core asset with upside in an incredible urban-infill location in one of the strongest real estate markets in the country. The Property, which will be delivered vacant, consists of a three-story building containing three (3) residential units comprised of two (2) 1-Bedroom/1-Bathroom units, and one (1), 2-Bedroom/1-Bathroom unit with 1,782 square feet of living area in 2,400 gross square feet on a 0.04-acre parcel. The building is separately metered for electricity, gas fired heat, hot water, and a gas stove. The top floor unit (#3) has been renovated and features hardwood floors, white upper and blue lower shaker cabinets, granite countertops and stainless-steel appliances. The bathroom has also been updated with a new vanity, tile floor and tile shower surround. With the property being delivered vacant, 24 Telegraph offers an investor the opportunity to immediately achieve market rates in Unit 3 as well as begin programmatic updates to the unrenovated units. Additionally, there is a large yard at the properties rear which creates the potential for additional square footage or outdoor options for the incoming tenants.
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.