QUINCY, Mass. — The Griffith Pepdjonovic Group of Marcus & Millichap has arranged the $2.4 million sale of The Residences at Des Moines Road, a seven-unit multifamily property in Quincy, Massachusetts.
Marcus & Millichap announced the transaction Wednesday, saying the property at 13-21 Des Moines Road was sold for $2.4 million. The company’s Boston-based team of Senior Managing Directors Tony Pepdjonovic and Evan Griffith exclusively marketed the property on behalf of the sellers, who originally developed the building.
“13-21 Des Moines was built in 2005 and features expansive layouts, central air conditioning, separated utilities including water, and two parking spots per unit, making it an excellent buy-and-hold rental or future condominium-exit play,” Pepdjonovic said.
Griffith said the property generated significant interest shortly after being brought to market.
“This is a truly unique building that brought about tremendous interest from the opening launch,” Griffith said. “We had multiple offers and went under agreement to an all-cash 1031-exchange buyer.”
Seven Residential Units
The four-story property consists of approximately 9,640 square feet on a 0.32-acre lot and includes on-site parking.
The building contains:
- Six two-bedroom apartments
- One four-bedroom penthouse
- Two parking spaces per unit
- Central air conditioning
- Separately metered utilities, including water
The property was constructed in 2005 and is located in Quincy Point, providing access to public transportation and downtown Quincy Center.
The transaction highlights continued investor interest in multifamily properties in Greater Boston, particularly assets offering a combination of residential rental income, convenient transportation access, and potential future redevelopment or condominium opportunities.
Marcus & Millichap, which trades on the New York Stock Exchange under the ticker MMI, provides commercial real estate investment sales, financing, research and advisory services.
The company did not disclose the identity of the buyer or seller.
