July 23, 2020 – Dennis Kelleher, John Pentore and Mike McCarthy of Horvath & Tremblay have successfully completed the sale of a Multi-Family building totaling 4 units in Jamaica Plain (Boston), Massachusetts. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,075,000, which is $268,750 per unit
The property is located at 11 Minton Street in the Jamaica Plain Neighborhood of Boston, Massachusetts. The property consists of a two-story multi-family building containing a total of four (4) 1-Bedroom/1-Bathroom units in 2,608 square feet of living area on a 0.06-acre corner parcel. The property was sold with approved plans to re-model and expand the existing building. The proposed renovation would allow for the addition of a third floor and the reconfiguration of the existing four units, allowing for the creation of an additional four bedrooms and two bathrooms. The re-model and addition would increase the living area to 3,710 square feet with two (2), 1+Bedroom /1-Bathroom units and two (2) 3-Bedroom/2-Bathroom units. The renovations would also include all new unit interiors, mechanical systems and a completely new roof and siding. The property is exceptionally well-located in the high-density, urban-infill Jamaica Plain neighborhood. The highly-walkable location is just steps from the Orange Line at both the Stony Brook and Green Street Stations and Franklin Park. An impressive 464,000+ people live within a 3-mile radius of the Property with an average household income of $99,500.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.