The Griffith Pepdjonovic Group of Marcus & Millichap brokers $3.15m sale of Roslindale multifamily

Boston, MA Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, has completed the sale of an 11-unit, 9,360 s/f multifamily property for $3.15 million. 

“The property offered a clear value-add strategy as more than half of the units were delivered vacant, allowing the buyer to begin renovations upon takeover,” said Tony Pepdjonovic, senior managing director. 

“There are a finite number of buildings with 10 or more units in Boston, and we continue to see 1960s- and 1970s-era brick construction as one of the most desirable asset types,” said Evan Griffith, senior managing director. 

Griffith and Pepdjonovic of Marcus & Millichap exclusively marketed the property on behalf of the seller and procured the buyer. The duo was able to generate five qualified offers during the marketing process. 

Located at 11 Schubert St. in the city’s Roslindale neighborhood, the three-story brick building was constructed in 1970 and sits on a 0.18-acre parcel. The property includes a mix of one- and two-bedroom units, seven off-street parking spaces, and a common laundry area. The asset is located near West Roxbury Parkway and Washington St., with access to MBTA Commuter Rail stations and nearby retail stores, including Dedham Mall and Legacy Place.