Kelleher and Pentore of Horvath & Tremblay handle $12.25 million sale

Chelsea, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have completed the sale of 35 residential units on the Chelsea/Everett line.

Horvath & Tremblay represented the seller and procured the buyer in the transaction. The asset sold for $12.25 million and $350,000 per unit.

The multifamily property is located at 76 & 86 Harvard St. (Chelsea) & 141 Harvard St. (Everett). The brick apartment buildings, consisting of 35 units and 32,620 s/f, are comprised of three one-bedroom units and 32 two-bedroom units with off-street parking for tenants.

The well-maintained property also features an on-site laundry facility and on-site parking for residents. Since the seller’s acquisition in 2018, the property has undergone capital improvements including renovations to a majority of the units interiors, heating systems as well as re-paving of the parking areas.

Situated in a high-density, urban-infill neighborhood, the location is convenient to area schools, primary roadways downtown Everett and Chelsea, and downtown Boston. The property is positioned near US Rte. 1 and MA Rte. 16 (Revere Beach Pkwy.), is close to area shopping (one mile from Chelsea Commons and the Mystic Mall), and offers access to numerous dining options and entertainment venues.

Public transportation is available along Washington Ave., with MBTA buses providing regular service, and train service from the Chelsea Station on the MBTA Commuter Rail (Newburyport/Rockport Line), and service along the MBTA’s silver line 0.9-miles away. Additionally, the property is close to I-90 and 93, downtown Boston (6 miles) and Boston’s Logan International Airport (4 miles).