December 16, 2024 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a thirty-five (35) unit multi-family property in Chelsea, Massachusetts. Horvath & Tremblay represented the seller, and procured the buyer in the transaction. The desirable asset sold for $12,250,000 and $350,000 per unit.
The multi-family property is located at 76-86 & 141 Harvard Street in the North-End neighborhood of Chelsea, Massachusetts (the “Property”). Situated in an incredible high-density, urban-infill neighborhood, the location is convenient to area schools, primary roadways Downtown Everett and Chelsea, and Downtown Boston. The Property consists of three adjacent brick multi-family buildings and is comprised of three (3) 1-Bedroom/1-Bathroom units and thirty-two (32), 2-Bedroom/1-Bathroom units with 32,620 square feet of living area in 37,196 square feet of total area on a combined 0.70-acres of land. The well-maintained property also features an on-site laundry facility and ample on-site parking for residents. Situated along Harvard Street, the Property is ideally positioned near US Route 1 and MA Route 16 (Revere Beach Parkway), is close to area shopping (1-mile from Chelsea Commons and the Mystic Mall), and offers access to numerous dining options and entertainment venues. Public transportation is readily available just a short walk from the Property along Washington Avenue, with MBTA buses providing regular service, and Train Service from the Chelsea Station on the MBTA Commuter Rail (Newburyport/Rockport Line), and service along the MBTA’s silver line just 0.9-miles away. Additionally, the Property enjoys close proximity to Interstates 90 and 93, Downtown Boston (6 miles) and Boston’s Logan International Airport (4 miles).
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.