Kelleher and Pentore of Horvath & Tremblay sell Arlington Commons

Framingham, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have completed the sale of Arlington Commons, 54-unit multifamily property. Horvath & Tremblay exclusively represented the seller in the transaction. The asset sold for $15.1 million. 

Arlington Commons is located at 77-79 Arlington St. Situated in a convenient downtown location, Arlington Commons is a short walk from the commercial center at the intersection of Waverly and Concord Sts. as well as the Framingham MBTA station. The location offers access to area highways and to an appealing mix of national and local restaurants and retailers serving the downtown area. Arlington Commons consists of two, 27-unit brick buildings and contains 27 two-bedroom/one-bathroom units, 21 one-bedroom/one-bathroom units, and six studio units with 30,048 s/f of living area in 45,264 s/f of gross area on a 1.12-acre lot. Tenants of the property are responsible for their own heat (electric) while the landlord is responsible for common area electric, gas-fired hot water and domestic water and sewer. 

The property has been subject to significant capital improvements, with a majority of the units recently renovated with updated kitchens, bathrooms and flooring throughout, common area renovations, exterior renovations including landscaping and painting, new rubber roofs, new parking lot, new sewer pumps, and new vinyl replacement windows. Tenants benefit from an on-site laundry facility and wall AC’s in all units. Arlington Commons is a renovated property with high historical occupancy and future upside in a desirable MetroWest location with excellent regional connectivity via Mass Pike (I-90), Rte. 9, and the Framingham Commuter Rail Station.