December 30, 2024 – Jason Kulik and Stephen Girolamo of Horvath & Tremblay have successfully completed the sale of a 6-unit multi-family property in Weymouth, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,075,000.
850 Broad Street is a multi-family building in Weymouth, Massachusetts. 850 Broad Street contains six (6) residential units comprised of two (2), 1-Bedroom/1-Bathroom units and four (4), Studio units with 2,991 square feet of living area in 3,042 square feet of gross area on a 0.12-acre corner parcel. The three-story building has been well maintained throughout ownership, with recent improvements completed, and features an on-site laundry facility, and seven (7) off-street parking spaces. The units are separately metered for electricity, electric heat, and hot water which the tenants pay directly. The Landlord is responsible for common electric and domestic water and sewer. The current rents are below market and the opportunity exists to increase rents to market value via programmatic updates to the unrenovated units in a highly desirable, supply constrained market. The Property is located at the intersection of Broad, Commercial and Pleasant Streets, the area’s primary commercial and commuter corridor. The Property is within walking distance of several restaurants and bars and is 2-miles from Walmart, Shaw’s and other national retailers. Public transportation options are easily accessible from the Property via the Greenbush Line at East Weymouth Station. The Property is seconds from MBTA bus routes on nearby Broad, High, and Pleasant Streets. MA Route 53 (Washington Street), MA Route 3 (Pilgrims Highway), and MA Route 3A are all close by. Additionally, 850 Broad Street is 3-miles from Weymouth High School and 3.5-miles from South Shore Hospital, and 4-miles from Hingham Bay.
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.