News: Front Section
Posted: April 19, 2024
Griffith Pepdjonovic Group of Marcus & Millichap brokers $2.475 million mixed-use sale
Boston, MA Marcus & Millichap has completed the sale of a seven-unit mixed-use property for $2.475 million.
“Sitting just steps away from the State House, this turnkey generational asset consists of six fully renovated apartments with a long-term retail tenant. Despite rising interest rates, investors are still very actively looking to acquire truly unique urban core properties,” said Evan Griffith, senior vice president investments.
Griffith and Tony Pepdjonovic of Marcus & Millichap’s Griffith Pepdjonovic Group had the exclusive listing to market the property on behalf of the seller and procured the buyer.
“Located in the heart of Beacon Hill, this property is a walker’s paradise with all that Boston has to offer with close proximity to Suffolk University, City Hall Plaza, Government Center and MGH,” said Pepdjonovic, senior vice president investments.
Built in 1899, the multifamily property is located at 12 Derne St., in the Beacon Hill neighborhood of the city. The newly renovated three-story property comprises seven total units: six studio apartments and one commercial unit, currently a laundromat. The property is centrally located, with many points of interest including Boston Common, Downtown Crossing, and TD Garden all within a ten-minute walk.
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