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Boston & New England  + Metro Boston  + Apartments  | 

Medford Apartments Trade at 5.39% Cap Rate

Marcus & Millichap completed the sale of 218-220 Middlesex Ave., a 12-unit multifamily property in Medford, MA, for $3.5 million. SVPs Evan Griffith and Tony Pepdjonovic in Marcus & Millichap’s Boston office marketed the property on behalf of the seller and procured the buyer.  

“This property offers unparalleled access to premier area amenities, including Assembly Square, Station Landing, Encore Casino, and its proximity to downtown Boston, making it an attractive choice for renters seeking convenience and easy access to the city,” said Pepdjonovic.

Griffith added, “In addition to its attractive location, the building and grounds were very well taken care of by the seller for the past two decades, providing an opportunity to raise the rental income approximately 20% through a more aggressive leasing strategy.”

218-220 Middlesex Ave. is located directly on the public bus line and within walking distance of Wellington MBTA Station. The capitalization rate at the time of sale was 5.39%.  

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Marcus & Millichap's PepdjonovicMarcus & Millichap's Griffith

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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