Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has completed the sale of Toll House Apartments, a 48-unit apartment property, according to Gary Lucas, regional manager of the firm's Boston office. The asset sold for $1.7 million.
Tim Thompson and John Slyman, investment specialists 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 secured and represented by Thompson and Slyman.
Toll House Apartments is located at 2034 Riverdale St.
The property was 98% occupied at the time of the sale and consisted of 39 units made up of primarily one bedrooms. The property has had recent capital improvements within the last five years including roofs and updated mechanicals.
With nearly 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 $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.