Kelleher and Pentore of Horvath & Tremblay broker $3.3 million sale

Somerville, MA Dennis Kelleher and John Pentore of Horvath & Tremblay, have arranged the sale of 249 Summer St. The six-unit apartment building sold for a price of $3.3 million and $550,000 per unit. 

 

 

249 Summer St. is situated in the Spring Hill neighborhood of the city and is located less than a ½ mile to Porter Sq. as well as 1 mile to both Davis and Union Sqs. With links to the subway and commuter rail, Porter Sq. is both a local and regional shopping destination with a mix of large and small retail shops, restaurants and bars. Situated on a 0.1 acre site, the 6,783 s/f property is comprised of 6 three-bedroom apartments. Each unit has been renovated with modern amenities including: custom cabinets, granite countertops, stainless steel appliances, and hardwood floors throughout. In addition, each unit has a brand new heating system and is separately metered for gas heat, hot water and electric utilities. A coin-operated laundry is also available on site for tenants. The property is located in a highly sought-after residential neighborhood in one of the strongest rental markets in New England.

Horvath and 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.