Marcus & Millichap completed the sales of 5 Waldemar Ave., a six-unit apartment property, 112 Fremont Ave., a four-unit apartment building located in Everett, and 26 Hamilton St., a four-unit building located in Everett, according to Tim Thompson, sales manager of the firm's Boston office. The assets sold for $1.876 million.
Evan Griffith, a senior investment specialist in Marcus & Millichap's Boston office, had the exclusive listing to market the properties on behalf of the sellers, private investors. The buyers, also private investors, were procured by Griffith.
"East Boston continues to be one of the hottest submarkets as robust rental growth is really driving values." said Griffith. "With all signs pointing towards the future of Everett to include Gaming, investors are swarming to various submarkets to cash in on the anticipated revitalization. The activity levels were tremendous on all three properties given the lack of deliverable product available in the marketplace. This combined with the extremely favorable lending environment enabled us to deliver clean non-contingent offers on these properties."