NAI Hunneman has brokered the sale of 385-389 Harvard St., a 19-unit apartment property, for $4.4 million. NAI Hunneman executive vice president/principal Carl Christie, along with investment sales specialist Dan McGee and associate Henry Lieber represented the seller, Paul and Betty Burlin Revocable Trust, in the transaction. The trio also procured the buyer, E&S Realty Trust.
Set at the corner of Harvard St. and Beals St. in the Coolidge Corner section of Brookline, 385-389 Harvard St. is a 19-unit brick building containing five commercial suites and fourteen apartment units. Four of the five commercial suites are occupied on a tenant-at-will basis and thirteen of the fourteen apartment units are currently vacant.
"385-389 Harvard St. presented a unique opportunity for an investor to acquire this asset and renovate the interior units to fit their investment preference," said Christie. "The facade and location are very attractive and the interior can accommodate a high-end renovation into luxury rentals or condominiums. Alternatively, with minor renovations the units can be rented "as is" in a continuation of its previous 50+ years of rental operations."