Brookline, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have completed the sale of The Cameron, an 8-unit apartment building. The desirable, brick asset sold at a 5% cap rate for $4.22 million and $527,500 per unit.
The Cameron, located at 40-42 Cameron St., consists of a maintained four-story brick building containing eight two-bedroom/one-bathroom units with 8,204 s/f of living area in 11,878 gross s/f on a 0.11-acre parcel. Six of the units feature an extra room which provides tenants with an option for a home office or dining area. The property also features three tandem parking spaces, each supporting three vehicles for nine total parking spaces on site. The property has strong historical occupancy and has undergone a total renovation, every system and building element is has been replaced over the last few years. Seven of the eight units feature condo quality finishes including new kitchens and bathrooms with modern amenities.
The Cameron is situated in an urban location, one block from Boylston St. (MA Rte. 9), one of the main streets in the neighborhood, a short walk from MBTA Bus routes, and 0.3-miles from the Brookline Hills T Station. The area offers amenities, with endless dining, retail, nightlife and beach/park options nearby. The Cameron is just over one mile from the Longwood Medical Area (LMA), a world-class medical and academic center located between Brookline and Mission Hill. The LMA features a mix of dense state-of-the-art hospital buildings, attractive college facilities, and apartment housing. LMA institutions generate jobs, care for the sick, educate tomorrow’s workforce and are a cultural resource to the community.
Over 112,000 people are in the LMA every day. The location also offers access to Northeastern University, Boston University, Boston College, Kenmore Square and the Back Bay.