July 30, 2024 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of six (6) multi-family units in Cambridge, Massachusetts. Horvath & Tremblay exclusively represented the seller in the transaction. The desirable asset sold for $4,100,000 and $683,333 per unit.
The multi-family property is located at 235 Charles Street in the Kendall Square neighborhood of Cambridge, Massachusetts (the “Property”). Situated in an incredible high-density, urban-infill, Cambridge neighborhood, the highly walkable location is a short walk from Kendall Square, Inman Square, the Green Line at the Union Square Station, MIT, MGH, the Charles River Esplanade, and Downtown Boston. 235 Charles Street is a three-story multi-family building that contains a total of six (6) units, comprised of one (1), 3.5-Bedroom/2-Bathroom unit, four (4) 3-Bedroom/1-Bathroom units, and one (1), 2-Bedroom/2-Bathroom unit with 7,140 square feet of living space in 9,162 square feet of total gross area on 0.09-acres of land. The Property has been well-maintained with an attractive unit mix. The majority of the units feature kitchens with granite or quartz countertops and stainless-steel appliances, including gas stoves and dishwashers, and hardwood floors throughout. There are laundry facilities located in the basements on both sides of the property for the tenants. Each of the units is separately metered for gas heat, hot water and electric. The Property is well located on Charles Street, a short walk from both Broadway and MA Route 28 in the high-density, urban-infill neighborhood of Kendall Square. The Property sits in Kendall Square and is 1-mile from Inman Square, and 1.3 miles from Union Square. The location is an easy walk to the employment centers of Kendall Square and Downtown Boston, multiple public transportation options, and numerous shopping, dining, entertainment, and outdoor recreation options. Notable amenities within walking distance include Cambridgeside Galleria, Twin Cities Plaza (Star Market & Marshalls), Target, Whole Foods, MIT, Kendall Square, Union Square, and the Charles River Esplanade.
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.