Holbrook-CrossingPrint

HOLBROOK CROSSING

A PA R T M E N T S

GRIFFITH | PEPDJONOVIC

INVESTMENT
SUMMARY

Holbrook Crossing is a 32 unit brick apartment complex
located at 28 Weymouth Street in Holbrook, Massachusetts.
The offering is comprised of (22) two-bedroom units and
(10) one-bedroom apartments. The apartments have separate
utilities and the tenants are responsible for heat, hot water,
and electricity costs. The property also features ample
off-street parking and coin-operated laundry on the premises.

The offering presents investors a rare opportunity to acquire
a stable apartment complex in a strong suburb in the South
Shore of Boston. This area has limited apartment housing
stock and very few 20+ unit apartment buildings trade hands.
Furthermore, Holbrook Crossing provides significant upside
in raising the monthly rental income to market levels.

Holbrook is a town of Norfolk County located just 16 miles
to Downtown Boston. Principal highways are Routes 37 and
139, which intersect at the center of the town. MBTA Com-
muter Rail service to South Station in Boston is available
on the Middleboro line from the Holbrook/Randolph Rail
Station. The MBTA Red Line is accessible in Braintree and
Quincy. Holbrook is a member of the Massachusetts Bay
Transportation Authority (MBTA) which provides fixed bus
route service to Quincy Center and Braintree Stations.
Holbrook is served by the 230 Bus from Quincy Center
Station. The MBTA also provides The Ride, a paratransit
service for the elderly and disabled.







AREA MAP BOSTON AIRPORT

ELEVATION APARTMENTS QUINCY
HOLBROOK
New-construction 6-building
apartment community featuring

492 studio, one and
two-bedroom residences
delivered in October, 2018.

PRYNNE HILLS

Apartment complex featuring
1, 2 & 3 bedroom apartments

and townhomes for rent in
Randolph and Canton, MA, with

quick access to I-93.

STOUGHTON

HOLBROOK CROSSING

HINGHAM THE MASTLIGHT LOCATION OVERVIEW
WEYMOUTH
A brand new apartment Holbrook is situated in the Greater Boston
complex featuring studios, 1, Area and features air, rail and highway
2 and 3 bedroom units from access. Stoughton offers Commuter Rail service
$1,675-$3,300/ month with to South Station in Boston on the Middleboro
access to the Commuter Rail. line from the Holbrook/Randolph Rail Station.
The MBTA Red Line is accessible in nearby
Braintree and Quincy. Holbrook borders
Braintree to the North, Weymouth to the East,
Abington to the Southeast, Brockton to the
Southwest, Randolph and Avon to the West.

ROCKLAND

UNION POINT

A brand new, 1,500 acre
development 12 miles from
Boston featuring 8 million
SF of commercial space and

4,000 residential units.

A SMART CITY

1,500 8M 4,000 450,000

Acre Site 12 Miles Square Feet of Residential Units Square Feet of
South of Boston Commercial Space On-Site Retail Space

Located 12 miles south of Boston, Union Point is where artful design meets green living, where the landscape inspires
human potential, where life itself feels expansive. One of the largest remaining land parcels in the South Shore area,
the 1,500 acres encompasses land in Weymouth, Abington, and Rockland. Upon completion, Union Point will unfold
our best aspirations for urban living—aligning our common professional, creative, and athletic pursuits within this
intentionally progressive space.

GREATER BOSTON METRO

Steeped in history, the Boston metro spans
4,128 square miles across Essex, Middlesex,
Norfolk, Plymouth and Suffolk counties in
Massachusetts, and Rockingham and
Strafford counties in southeastern New
Hampshire. The region is home to
approximately 4.8 million individuals and
accounts for nearly 70 percent of all
Massachusetts’ residents. Boston is the most
populous city in the metro with roughly
675,200 citizens. It is located along the
Atlantic seaboard and fronts Boston Harbor.
Boston has transitioned from a manufacturing
hub to one of the top innovation, healthcare
and education centers of the world. The metro
is home to a thriving startup ecosystem,
with medical research at world-renowned
institutions such as Harvard and MIT at its
core.

HOLBROOK CROSSING APARTMENTS 10

4.8M $82K #3

GREATER BOSTON HOUSEHOLD INCOME HIGHEST INCOME PER
POPULATION IN GREATER BOSTON CAPITA IN THE US

1.9M 3.4% 500K

GREATER BOSTON UNEMPLOYMENT COLLEGE STUDENTS IN
HOUSEHOLDS RATE GREATER BOSTON

100+ 16M+ 36M

LEADING EDUCATION VISITORS TO BOSTON PASSENGERS OUT
INSTITUTIONS AND CAMBRIDGE OF LOGAN AIRPORT

130+ #1

HOSPITALS IN STATE IN THE US BY
GREATER BOSTON US NEWS AND WORLD

REPORT

GRIFFITH | PEPDJONOVIC 11

FINANCIAL SUMMARY

PROPERTY DETAILS 28 Weymouth St. Holbrook, MA
32
Address
Number of Units 24,516
Gross SqFt 1.40 Acres
Lot Size
Approx. Year Built 1959

HOLBROOK CROSSING APARTMENTS 12

DETAILED RENT ROLL

Unit Unit Type Current Rent Potential Rent

1 One-Bedroom / One-Bath $1,250 $1,250
2 One-Bedroom / One-Bath $1,100 $1,250
3 One-Bedroom / One-Bath $1,100 $1,250
4 One-Bedroom / One-Bath $1,050 $1,250
5 One-Bedroom / One-Bath $1,050 $1,250
6 One-Bedroom / One-Bath $1,050 $1,250
7 One-Bedroom / One-Bath $1,250 $1,250
8 One-Bedroom / One-Bath $1,000 $1,250
9 Two-Bedroom / One-Bath $1,300 $1,500
10 One-Bedroom / One-Bath $1,050 $1,250
11 Two-Bedroom / One-Bath $1,200 $1,500
12 Two-Bedroom / One-Bath $1,250 $1,500
13 Two-Bedroom / One-Bath $1,300 $1,500
14 Two-Bedroom / One-Bath $1,200 $1,500
15 Two-Bedroom / One-Bath $1,300 $1,500
16 Two-Bedroom / One-Bath $1,300 $1,500
17 Two-Bedroom / One-Bath $1,300 $1,500
18 Two-Bedroom / One-Bath $1,300 $1,500
19 Two-Bedroom / One-Bath $1,300 $1,500
20 Two-Bedroom / One-Bath $1,100 $1,500
21 Two-Bedroom / One-Bath $1,300 $1,500
22 Two-Bedroom / One-Bath $1,200 $1,500
23 Two-Bedroom / One-Bath $1,400 $1,500
24 Two-Bedroom / One-Bath $1,500 $1,500
25 Two-Bedroom / One-Bath $1,300 $1,500
26 Two-Bedroom / One-Bath $1,300 $1,500
27 Two-Bedroom / One-Bath $1,300 $1,500
28 Two-Bedroom / One-Bath $1,200 $1,500
29 Two-Bedroom / One-Bath $1,300 $1,500
30 Two-Bedroom / One-Bath $1,250 $1,500
31 Two-Bedroom / One-Bath $1,200 $1,500
32 One-Bedroom / One-Bath $1,150 $1,250
$45,500
Monthly $39,150
$546,000
Annual $469,800
GRIFFITH | PEPDJONOVIC
13

OPERATING STATEMENT Current Year 1 Per Unit Per SF

Income $469,800 $546,000 $17,063 $22.27
($14,094) 3.0% ($27,300) 5.0% ($853) ($1.11)
Gross Scheduled Rent $16,209 $21.16
Total Vacancy 455,706 $518,700
Effective Rental Income -- -- -- --
Other Income $234 $0.31
Laundry Income 7,500 $7,500 $234 $0.31
Total Other Income $7,500 $7,500 $16,444 $21.46
Effective Gross Income $463,206 $526,200
Per Unit Per SF
Operating Expenses Current Year 1
$$1,177 $$1.54
Real Estate Taxes $$37,673 $$37,673 $$502 $$0.66
Insurance $$16,073 $$16,073 $$108 $$0.14
Utilities - Electric $$3,442 $$3,442 $$1,038 $$1.35
Utilities - Water & Sewer $$33,211 $$33,211 $$179 $$0.23
Trash Removal $$5,723 $$5,723 $$500 $$0.65
Repairs & Maintenance $$16,000 $$16,000 $$219 $$0.29
Landscaping & Snow Removal $$7,500 $$7,500 $$5 $$0.01
Alarm Monitoring/Inspection $$250 $$0.33
Operating Reserves $$150 $$150 $$825 $$1.08
Management Fee $$8,000 $$8,000
Total Expenses $$23,160 (5.0%) $$26,310 (5.0%) $4,802 $6.27
Expenses as % of EGI
Net Operating Income $150,932 $154,082 $11,695 $15.27
32.6% 29.3%

$312,274 $374,243

HOLBROOK CROSSING APARTMENTS 14

MARCUS & MILLICHAP
PREMIER INVESTMENT SERVICES

Marcus & Millichap is the premier commercial real estate investment services firm in the United
States. Founded in 1971 on a unique model that matches each property with the largest pool of
pre-qualified investors, we leverage four decades' worth of experience and relationships to
handle all of your commercial real estate needs. Our team of more than 1,800 professionals in
the U.S. and Canada focuses exclusively on real estate investment sales, financing, research, and
advisory services.

Founded in 1971 Largest pool of Moves capital More than 1,800
on a unique pre-qualified across our investment
methodology network of
investors investment professionals in the
in the industry U.S. and Canada
professionals

GRIFFITH | PEPDJONOVIC 15

Marcus & Millichap

OUR FIRM

In Boston, and across the country, Marcus & Millichap is an industry leader
due to the quality of our research and the depth and breadth of our team. Our powerful
national platform exposes each property to the largest pool of qualified investors and
enables us to annually close the largest number of real estate investment transactions
nationally.
2017 Numbers

8,995 1,819+ 1,652 $47.4B
VOLUME
TRANSACTIONS PROFESSIONALS CAPITAL MARKET
TRANSACTIONS

OVER 80

Offices in
U.S. & Canada

HOLBROOK CROSSING APARTMENTS 16

3,500+ 1031 #1 TEAM

UNITS SOLD EXCHANGE SPECIALISTS BOSTON OFFICE (2016-2018)

GRIFFITH | PEPDJONOVIC

Evan Griffith and Tony Pepdjonovic lead the top-producing team in the Boston Marcus & Millichap office. Evan and
Tony have formed a collaborative investment sales team focusing on the New England market. They are dedicated to
being relationship-oriented with the crux of the team’s focus on multi-family, mixed-use buildings as well as guiding
clients through the 1031 exchange process.
The team’s foremost goal is to exceed the expectations of each client, deliver superior results and solidify strong
lifetime relationships. Griffith & Pepdjonovic are known for their honesty and integrity and take pride in their many
repeat clients.

GRIFFITH | PEPDJONOVIC 17

EXCLUSIVELY LISTED BY:

TONY PEPDJONOVIC EVAN GRIFFITH GRIFFITH | PEPDJONOVIC
Senior Associate
Boston Office First Vice President Investments
Tel: 617.896.7277 Boston Office
Fax: 617.701.7019
[email protected] Tel: 617.896.7221
Fax: 617.701.7019
[email protected]