Dennis Kelleher and John Pentore of the Horvath & Tremblay Group of Marcus & Millichap Real Estate Investment Services, brokered the transaction of two multifamily properties for $2.8 million, located in Cambridge and Somerville.
204-210 River St. is a two-story, multifamily apartment building located in the Cambridgeport section of Cambridge. The apartment units are comprised of 4 two-bedroom, one-bathroom units. The property is within walking distance of the Charles River, Central Sq., Harvard University, MIT University and the Red Line at Central Station. The sale closed at a price of $1.301 million with a price per unit of $325,250.
19 Buckingham St. is a three-story multifamily apartment building located in Inman Sq. neighborhood of Somerville. The property consists of 3 four-bedroom, one bathroom units. Located less than a quarter of a mile from the property is a brand new Whole Foods and a Walgreens which provide tenants with easy access to shopping and necessities. The sale close at a price of $1.5 million.
Pentore and Kelleher exclusively represented the sellers of each of the properties along with their respective buyers. Both buyers were local investors who were looking to add to their existing portfolios.
With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is one of the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 6,149 transactions in 2012, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry's most comprehensive research, technology and relationships with the largest pool of qualified investors nationally.