Bradley of Horvath & Tremblay handles $9.5m Belmont Portfolio sale

Springfield, MA Michael Bradley of Horvath & Tremblay has arranged the sale of the Belmont Portfolio, a six property, 78 unit multi-family portfolio. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $9.5 million.

 

 

The Belmont Portfolio consists of six multi-family investment properties located at 130-132, 140, 143-147, 155, 197-199 and 205 Belmont Ave. The portfolio contains 78 residential units comprised of three, four-bedroom/two-bathroom units, four four-bedroom/one-bathroom units, 43 three-bedroom/one-bathroom units, 20 two-bedroom/one-bathroom units and eight one-bedroom/one-bathroom units with 87,294 s/f of living area in 109,858 total gross s/f on a combined 1.45 acres. The attractive brick buildings feature separately metered electricity, heat and hot water which the tenants pay directly. At closing, the majority of in-place residential rents were below market rates, offering the opportunity to update the remaining unrenovated unit interiors to drive rental rates. The Belmont Portfolio is located within the city’s urban core, offering strong neighborhood visibility and convenient access to major city corridors. The portfolio is 0.4 miles from Main St. and close to downtown, providing proximity to employment centers, retail destinations, and cultural amenities. Easy access to I-91 and 291 ensures efficient regional connectivity to Hartford, Worcester, and the Greater Boston area. Nearby conveniences, including restaurants, shopping centers, schools, and parks, further enhance livability and tenant appeal.