15 Albertina Street - Quincy, MA

Quincy, MA Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, completed the sale of 15 Albertina St., a six-unit apartment property, according to Tim Thompson, sales manager of the firm’s Boston office. The asset sold for $875,000.

Tony Pepdjonovic, an investment specialist in Marcus & Millichap’s Boston office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also procured by Pepdjonovic.

Tony Pepdjonovic, Marcus & Millichap

15 Albertina St. is comprised of 3 one-bedroom/one-bathroom and 3 two-bedroom/one-bathroom apartments. The property features off-street parking, rentable garage units, and on-site laundry. 15 Albertina St. provided the buyer with a stable, cash-flowing asset with upside in raising rents to market levels. The property is within walking distance to Quincy Adams Train Station (MBTA -Red Line) and is in close proximity to Rte. 3 and I-93 North and South, making it an ideal commuter location. Other amenities include Crown Colony Office park, which is home to many major regional and national employers, BJ’s Wholesale Club, Lowe’s and Home Depot. The building was very well received in the marketplace as the city’s property appreciation and rent growth has continued to surge especially in transit-oriented locations. The capitalization rate at the time of the sale was 6.34%.

With over 1,500 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 7,600 transactions in 2014 with a value of approximately $33.1 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit:www.MarcusMillichap.com