Quincy, MA Marcus & Millichap completed the sale of 565-585 Sea St., a 17-unit apartment property, according to Thomas Shihadeh, regional manager of the firm’s Boston office. The asset sold for $3.67 million.
Evan Griffith, first vice president investments and Tony Pepdjonovic, first vice president investments, in Marcus & Millichap’s Boston office, had the exclusive listing to market the property on behalf of the seller and secured the buyer. 565-585 Sea St. is located in the Adams Shore/Hough’s Neck area of the city which is convenient to Quincy Center, Wollaston Beach, Marina Bay, and I-93.
The property was fully occupied at the time of sale and comprised of nine one-bedroom and eight two-bedroom apartments. The asset was well-maintained by the seller and provided a clear road map to increasing monthly rental income through programmatic apartment renovations. The duo has sold four buildings in Quincy in the last few months and are excited to launch their newest 18-unit assignment in the city next week.