Somerville, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have completed the sale of a 6-unit apartment building located at 241 School St. Kelleher and Pentore exclusively represented the seller and procured the buyer to close the property at a sale price of $1.65 million.
241 School St. is centrally located in the Winter Hill neighborhood and offers access to bus routes, shopping, dining, entertainment and outdoor recreation space. The location offers access to Downtown Boston, Kendall Sq., I-93, Tufts University, Harvard University, MIT and the new Assembly Sq. lifestyle center. The multifamily property is located on a 0.19-acre corner lot and contains 6-units in 4,258 s/f plus an unfinished basement and off-street parking. The property is a legal six-unit and contains two units on the first floor, three units on the second floor and one unit on the third floor. The property was delivered vacant at closing allowing the new investor the opportunity to capitalize on the value-add investment.
Horvath & 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.