October 9, 2024 – Stephen Girolamo of Horvath & Tremblay has successfully completed the sale of a four-unit Multi-Family building in Boston, Massachusetts. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,260,000, which is $565,000 per unit.
The three-story building is located at 602-604 Cambridge Street in Boston, Massachusetts and contains four (4) units consisting of two (2), 5-Bedroom/2-Bathroom units, one (1), 2-Bedroom/1-Bathroom unit, and one (1), 1-Bedroom/1-Bathroom unit with 4,693 square feet of living area in 5,997 square feet of gross area on a 0.14-acre parcel. The building has been well maintained and features large kitchens with dishwashers and garbage disposals. The units also have hardwood and tile floors throughout, and additional building features include two covered porches, dine in kitchens and fireplaces in Unit’s 2 and 3 as well as granite countertops in Unit 2. 602-604 Cambridge Street features separate electric and heat for each unit, with the Landlord responsible for common area electric, hot water, and domestic water and sewer. Additionally, the large parcel offers four (4) off-street parking spaces for tenants, including two (2) garage stalls. The Property also offers two (2) coin operated laundry machines, as well as an individual storage bay for each unit in the basement. The property is situated in an excellent urban location in the heart of the densely populated Allston-Brighton neighborhood of Boston. The property is across the street from the Saint Joseph’s Preparatory High School, next to St. Elizabeth’s Medical Center, just over a mile from Boston University, and half a mile from Boston Landing, a 15-acre mixed use development adjacent to the New Balance World Headquarters Building. 602-604 Cambridge Street is less than half a mile from the MBTA Green Line Stations at Warren Street and Allston Street. The property is conveniently located near the Massachusetts Turnpike (I-90) and is a short walk to Brighton and Commonwealth Avenues, which feature bus stops on several MBTA Bus Routes. Due to its excellent commuter location, 602-604 Cambridge St. allows tenants easy access to Downtown Boston as well as surrounding communities and employment centers.
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.