March 15, 2024 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of four (4) multi-family units in Newton, Massachusetts. The duo exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,940,000.
The Property is located at 2-4 Mechanic Street in Newton, Massachusetts. Located in the Newton Upper Falls neighborhood, 2-4 Mechanic Street offers convenient access to Newton Centre, both Babson College and Boston College and several T Stations (Green Line – Eliot Station 0.6 Miles & Newton Highlands Station 0.9 Miles) and MBTA Stations (Framingham/Worcester Line & Needham Line). Adding to the area’s appeal is the proximity to area schools, highways, entertainment venues, retailers, and restaurants. 2-4 Mechanic Street offers the opportunity to acquire a well-located, stabilized asset in one of the strongest real estate markets in a region that is poised for future growth. 2-4 Mechanic Street consists of a two-story building with four (4), 3-Bedroom/2-Bathroom duplex-style units with 4,877 square feet of living area in 5,248 square feet of gross area, on a 0.104-acre parcel. The building was comprehensively renovated in 2019 and each of the four duplex units features an open layout with new kitchens featuring white custom cabinets, granite countertops, and stainless-steel appliances. The units also have hardwood floors, in-unit laundry, new individual HVAC heating systems with central air and convenient parking. The exterior of the Property was alco renovated and has a new roof, new wood siding and new windows. Additionally, there are Four (4) parking spaces at the rear of the property which is accessed through 204-206 Elliot Street (Driveway Easement). 2-4 Mechanic Street is centrally located on the corner of Mechanic Street, an attractive residential side street, and Elliot Street, one of the area’s main commuter corridors, and is just a few blocks from Needham Street, the area’s primary commercial corridor. The Property’s central location offers convenient highway access to the major employment centers in Boston, Framingham, and Waltham. Downtown Boston is located just 10 miles to the east while both I-90 (the “Mass Pike”) and I-95 (Route 128) can be easily accessed within a few miles of the Property. The location also benefits from its proximity to two universities, Babson College (3,500 students) and Boston College (15,00 students) are both located within 3 miles of the Property.
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.