 (2).jpg)
News: Front Section
Posted: November 3, 2023
Griffith Pepdjonovic Group of Marcus & Millichap sells $2.8 million portfolio
Abington, MA Marcus & Millichap negotiated the sale of the Adams St. portfolio. The properties sold for $2.8 million.
“This unique three-building portfolio on 1.2 acres of land presents a compelling value-add opportunity, with the potential for substantial growth by renovating the units and bringing rents to market rates,” said Tony Pepdjonovic, senior vice president investments. “Abington is a town that offers historical charm alongside modern convenience, an easily accessible MBTA station, close proximity to major highways, and a range of recreational amenities,” said Evan Griffith, senior vice president investments.
Pepdjonovic and Griffith, senior vice presidents in Marcus & Millichap’s Boston office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust and the buyer, a local LLC.
The portfolio is comprised of three multifamily properties located at 401, 409, and 411 Adams St. There are 16 units in total within this portfolio, with five units at 401, six at 409, and five at 411. The unit breakdown includes one studio, 13 one-bedroom/one-bath, and two two-bedroom/one-bath units. The properties are situated two miles from train station, which services the Plymouth/Kingston line. Nearby retailers include Lowe’s, Walmart, Target, Trader Joe’s, and Dunkin’ Donuts. The Rockland Golf Course is 1.4 miles away.
Tags:
Front Section
MORE FROM Front Section
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
.png)
Columns and Thought Leadership
Make PR pop by highlighting unique angles - by Stanley Hurwitz
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
Four tips for a smooth 1031 Exchange - by Bill Lopriore
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.
