December 20, 2024 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a four (4) unit mixed-use Property in Boston, Massachusetts. Horvath & Tremblay exclusively represented the seller in the transaction. The desirable asset sold for $1,425,000.
The mixed-use property is located at 3106-3110 Washington Street in the Egleston Square neighborhood of Boston, Massachusetts (the “Property”). 3106-3110 Washington Street offers convenient access to Brookline, Back Bay, South Boston, Downtown Boston, Northeastern University, several T Stations (Orange Line – Stony Brook Station 0.4-miles & Green Street & Jackson Square Stations 0.6 Miles) and the Four Corners/Geneva MBTA Station (Fairmont, Franklin/Foxboro & Providence Stoughton Lines). Adding to the area’s appeal is the proximity to schools, highways, entertainment venues, retailers, and restaurants. 3106-3110 Washington Street is a well-located asset in one of the strongest real estate markets in a region that is poised for future growth. 3106-3110 Washington Street consists of a three-story building with four (4) units comprised of two (2) commercial units and two (2), 4-Bedroom/1-Bathroom residential units with 4,280 square feet of living area in 5,690 gross square feet on a 0.08-acre parcel. The commercial units are leased to Miheli Wireless and Tony’s Barbershop. Miheli Wireless has been at this location since 2019 and has 2+ years remaining on their lease with one (1), 5-year renewal option. Tony’s Barbershop has been at this location since 2017 and just exercised their renewal option demonstrating their commitment to the site and the market. They have 5 years remaining on their lease. Both commercial leases call for attractive 3% annual increases in rent, providing a steady hedge against inflation. 3106-3110 Washington Street is less than 1 block from Columbus Avenue, one of the area’s main commuter and commercial corridors. The central location offers proximity to area shopping and restaurants, and convenient access to the major employment centers in Boston, Cambridge, and Waltham. The Property offers convenient access to MA Route 9, US Route 20, Interstates 90 & 93, and Downtown Boston, just 3.5 miles to the east.
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.