Marcus & Millichap Closes Sale of Mattapan Apartment Portfolio
Marcus & Millichap closed the sale of the Delhi Street Portfolio, a three-building multifamily portfolio in Boston, for $4,875,000. The firm’s Evan Griffith and Tony Pepdjonovic marketed the property on behalf of the seller, a local partnership.
The portfolio is located at 157-159, 161-163 and 165-167 Delhi St. in Boston’s Mattapan neighborhood. It comprises 18 apartments, including three one-bedroom units and 15 two-bedroom units. Built in 1930, the properties have undergone partial renovations and feature off-street parking.
“This unique three-building, 18-unit property with parking combines immediate scale with meaningful value-add potential in a submarket where it is tough to find larger properties that house most of the local workforce,” said Griffith.
Pepdjonovic added, “Located just 0.7 miles from both a commuter rail and Red Line station, the property offers investors an entry point into a growing transit-oriented submarket where ongoing infrastructure improvements and economic development initiatives continue to support both stable cash flow and long-term appreciation.”
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout