December 11, 2024 – Ethan Lazar, Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a 6-unit multi-family property in Worcester, Massachusetts. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,160,000.
79 Birch Street is a three-story multi-family building in Worcester, Massachusetts. The Property consists of six (6), 2-Bedroom/1-Bathroom residential units with 5,658 square feet of living area in 7,878 square feet of gross area on a 0.15-acre parcel. The Property also features on-site parking for residents. Each unit is separately metered for electricity, heat (gas) and hot water, in which the tenants pay directly. Two (2) of the units have been renovated with condo quality finishes including kitchens with new cabinets, granite countertops and stainless-steel appliances, new bathrooms, and luxury vinyl plank flooring throughout. The renovated units also feature brand new HVAC and Central Air Conditioning systems. The Property is located in a quiet residential neighborhood and is one block from Park Avenue, three blocks from Main Street, and is within walking distance of Webster Square Plaza. The area is home to countless restaurants, bars and retailers. Additionally, 79 Birch Street is two blocks from Clark University, and 1.6-miles from both the College of the Holy Cross and Worcester State University. 79 Birch Street is a short walk (0.2-miles) from the Park Avenue & Beaver Street bus stop, with service on the route 7 and 825 bus lines, and is 0.4-miles from the 19, 27, and 33 lines offered by the Worcester Regional Transit Authority (WRTA). Worcester Union Station is centrally located just 2.2-miles away with service on the MBTA Framingham/Worcester commuter rail line and also serves as a station for Amtrak, Greyhound, Peter Pan and WRTA bus routes. The Property also benefits from close proximity to Interstate 290, which connects central Worcester to Interstates 190, 495, and 90. Worcester features a walkable downtown with a plethora of employment and entertainment opportunities. High profile attractions include the DCU Center and Palladium venues, and UMass Memorial Medical Center, the largest employer in the city. There are eight colleges and universities in Worcester, which brings a large student population (more than 36,000) to the rental market.
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.