May 19, 2025 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a thirty-two-unit multi-family Property in Melrose, Massachusetts. Horvath & Tremblay represented the seller and procured the buyer in the transaction. The desirable asset sold for $10,200,000 and $318,750 per unit.
The multi-family property is located at 42-44 Emerson Street in Melrose, Massachusetts (the “Property”). The Property contains thirty-two (32) residential units comprised of twenty (20), 1-Bedroom/1-Bathroom units and twelve (12), 2-Bedroom/1-Bathroom units with 25,515 square feet of living area in 29,740 square feet of gross area on a 0.80-acre parcel. The Property is comprised of two (2) well-maintained buildings and offers an on-site laundry facility and thirty-two (32) on-site parking spaces. Additionally, twenty-four (24) units have private balconies. The units are separately metered for electricity, which the tenants pay directly, and the landlord is responsible for common area electric, gas fired heat and hot water, and domestic water and sewer. 42-44 Emerson Street is exceptionally well located in downtown Melrose and is convenient to its many vibrant shops, dining amenities, and municipal offices, as well as the Wyoming Hill MBTA Station with service on the Haverhill Line to Boston’s North Station. 42-44 Emerson Street provides quick access to area schools, Melrose/Wakefield Hospital, and retailers and restaurants in Downtown Melrose including Shaw’s and Whole Foods. The location also offers proximity to the US Route 1 retail corridor, 2 miles from the Property. Anchored by the Square One Mall, the Route 1 retail corridor is an expansive retail district with an outstanding array of national retailers, popular dining opportunities, big box retailers, and entertainment amenities. It is one of the largest retail districts along the North Shore. The Property’s location in Melrose offers a convenient commute to the major employment centers in Boston and Cambridge, as well as the Worcester area to the west. Downtown Boston is located just 6.5 miles to the south with Interstate-93 and US Route 1 offering a direct route to the city.
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.