Malden, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have completed the sale of 33 Park St., selling for $6.25 million at a 3.69% cap rate.
33 Park St., a brick apartment building, is a 36-unit asset featuring a mix of studio and one-bedroom apartments on a 6,744 s/f lot. The value-add asset is situated in an urban infill location, less than ¾ mile from the Malden Center Commuter Rail as well as one block from Salem St., which provides various stops for the MBTA Bus service. Also located in close proximity is Malden High School as well as restaurants and shops. The acquisition allows the investor to own a generational asset in one of the stronger markets in the region.