Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of a nine-unit multifamily property located on Brown Street in Waltham, Massachusetts.
“You can argue that Waltham is the most sought-after multifamily market within 128, and we were able to generate five offers on the first day of property tours, which ultimately drove the price above asking,” said Tony Pepdjonovic, senior managing director. “Buyers were willing to pay a premium for this turn-key investment that featured fully renovated apartments, common areas, and exterior upgrades,” added Evan Griffith, senior managing director. Griffith and Pepdjonovic represented the seller and procured the buyer.
9-19 Brown Street is comprised of a mix of one- and two-bedroom apartments and three-bedroom townhouses. The property includes off-street parking, on-site laundry, and six rentable garages. Brown Street is on the south side of Waltham near the Charles River Walk, Waltham MBTA station, Boston Children’s Hospital, Brandeis University, and the retail and dining corridors along Main and Moody streets.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
