News: Front Section
Posted: September 17, 2021
Benton of Horvath & Tremblay brokers $3.91m sale of two properties - 602-604 Cambridge St. sold for $2.25m and 9-11 Holton St. closed for $1.66m
Allston, MA Ryan Benton of Horvath & Tremblay has completed the sale of two apartment buildings for $3.91 million. 602-604 Cambridge St. sold for $2.25 million and $562,500 per unit and 9-11 Holton St. closed for $1.66 million and $553,000 per door. Benton represented both sellers and buyers in the separate transactions.
602-604 Cambridge St., which closed at a 6.13% cap rate, is a three-story apartment building containing four units consisting of two, five-bedroom/two-bathroom units, one, two-bedroom/one-bathroom unit, and one, one-bedroom/one-bathroom unit in 4,693 s/f of living area (5,997 s/f of gross area), on a 0.14-acre parcel.
9-11 Holton St. is also a three-story building containing three units consisting of one, two-bedroom/one-bathroom unit, and two, three-bedroom/one-bathroom units in 3,873 s/f of living area with 6,314 s/f of total gross area on a 0.16-acre parcel with off-street parking for ten vehicles including a two-car garage.
Both properties are situated in excellent urban-infill locations in the heart of the densely populated Allston-Brighton neighborhood of Boston. Tenants of the Cambridge and Holton St. assets enjoy close proximity to area amenities and attractions and are 1.5 miles from Harvard University, MIT, Boston University, and half a mile from Boston Landing, a 15-acre mixed use development adjacent to the New Balance world headquarters building.
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