December 9, 2024 – Nick Bevilacqua, Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a three (3) unit multi-family Property in Dorchester, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer in the transaction. The desirable asset sold for $870,000.
The multi-family property is located at 20 Banton Street in Dorchester, Massachusetts. The three-story building contains three (3), 3-Bedroom/1-Bathroom residential units with 2,475 square feet of living area in 3,850 gross square feet on a 0.04-acre parcel. 20 Banton Street is a value-add opportunity; the current residents are Tenants at Will and in-place rents are significantly below market, offering the ability to drive rental rates through renovations to the building and programmatic upgrades to the individual units. Additionally, all three units have lead certificates. The Property is well-located near major roadways (Dorchester Avenue, Gallivan Boulevard and Interstate 93) and offers convenient access to numerous dining and retail amenities, outdoor parks, and public transportation options. 20 Banton Avenue is just 400 feet from MBTA Bus Service and 0.4-miles from the Ashmont & Shawmut T-Stations (both with service on the Red Line). The Property is close to area schools and the University of Massachusetts Boston, with an enrollment of over 16,000 students, is less than 3 miles away. The location offers convenient access to Boston’s best areas, including the Seaport District, Downtown Boston, Back Bay, the North End, the South End and is a short drive to Interstate 93.
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.