Somerville, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have arranged the sale of a multifamily building located at 46 South St. The 6-unit property sold for a price of $1.625 million and a price per s/f of $445.
46 South St. is set in an urban location on a corner parcel at the intersection of South St. and Harding St. in a densely populated residential neighborhood. This location offers quick access to downtown Boston as well as shopping and dining amenities, public transportation options and commercial centers. Located a block from the Cambridge-Somerville line, the property is .5 mile to both Kendall Sq. and Inman Sq. The location is also two blocks from multiple MBTA bus lines along Cambridge St. and a ten minute walk to the MBTA’s green line station at Lechmere. The value add property offers the investor a unit mix of three, 1-bedroom, 1-bathroom units and three, 2-bedroom, 1-bathroom units in one of the strongest rental markets in New England. Kelleher and Pentore represented the seller, Faber Properties LLC and procured the buyer, Torrington Properties.
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.