April 5, 2022 – Mike McCarthy of Horvath & Tremblay has successfully completed the sale of a 24-24A Clarence Street, a 4-unit multi-family building in Roxbury, Massachusetts. Horvath & Tremblay exclusively represented the seller to close the property at $1,450,000.
24 Clarence Street is a three-story building that contains three, well maintained, residential units, and 24A Clarence Street is a detached two-story, single-family residence located at the rear of the property. The Property contains four (4) total units made up of three (3), 3-Bedroom/1-Bathroom units, and one (1), 2-Bedroom/1-Bathroom unit in 4,744 square feet of living area (6,563 square feet of gross area) on a 0.057-acre parcel. The Property offers an investor the opportunity to convert 24A Clarence Street (the single-family residence in the rear of the property) from a 3-bedroom unit into a 4-Bedroom unit. Each unit is separately metered for electricity and gas (heat and hot water), which the Tenants pay directly. The Landlord is solely responsible for water and sewer. The property is located on a residential side street in the Nubian Square neighborhood of Roxbury. An impressive 59,200+ people live within a 1-mile radius of the Property with an average household income of $75,807. Over 463,500+ people live within 3 miles of the Property with an average household income of $121,960. Northeastern University is 1.5-miles from the property and has an enrollment of over 23,500 students, and The University of Massachusetts Boston is just 2-miles from the property and has an enrollment of over 16,000 students.
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.