February 17, 2021 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a 4-unit multi-family property in Cambridge, Massachusetts. The duo exclusively represented the seller to complete the transaction at a sale price of $1,995,000, which is $495,750 per unit.
The property located at 295 Allston Street in the Cambridgeport neighborhood of Cambridge, Massachusetts. The well-maintained, fully occupied 3-story building contains four units consisting of three (3), 2-Bedroom/1-Bathroom units and one (1), Studio unit in 3,092 square feet of living area (5,124 square feet of gross area) on a 0.08-acre corner parcel. The property is exceptionally well-located in a densely populated residential neighborhood in the heart of Cambridgeport. 295 Allston Street is seconds from Magazine Street, a shared Street reserved for walking and biking that provides direct access to Magazine Beach and Central Square. From there residents can enjoy quick access to Downtown Boston via the Red Line subway station at Central Square, which is located ½ mile from the property. Also situated within a short, 10-minute walk is MIT (Massachusetts Institute of Technology), which has been consistently ranked as one of the top universities in the world. In addition to the numerous employers are a myriad of shopping, dining, entertainment, and public transportation options, all of which make Cambridgeport one of the most sought after and desirable places to live in the region. Apartment demand in the neighborhood is driven by a diverse mix of families, young professionals, blue-collar workers, and the graduate students, employees and faculty from nearby MIT and Harvard University.
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.