Marcus & Millichap has brokered the sale of 15 Euston Rd., a 24-unit multifamily building in the Brighton neighborhood of Boston, achieving a sale price of $8,875,000. The asset, a four-story property built in 1962, drew notable attention from investors despite Brighton’s reputation as one of the country’s least active submarkets for apartment trades.
Evan Griffith, senior managing director in Marcus & Millichap’s Boston office, reported that a record number of investor groups toured the property during the marketing process. He attributed the strong buyer turnout to the scarcity of available product in Brighton, where apartment buildings trade infrequently and competitive opportunities for entry are limited.
Senior managing director Tony Pepdjonovic highlighted the property’s condition and operational track record as key factors in the outcome. He noted that the asset reflects a clear pride of ownership, and that in the current environment, long-term ownership is being rewarded when properties demonstrate consistent performance and quality. The building’s vintage and upkeep appear to have resonated with bidders seeking stable multifamily product in a supply-constrained neighborhood.
Pepdjonovic and Griffith marketed 15 Euston Rd. on behalf of the seller, described as a private family, and also secured the buyer, a partnership. The assignment involved representing the seller through a formal marketing process while simultaneously sourcing and procuring the eventual purchaser, underscoring Marcus & Millichap’s role as sales broker on both sides of the transaction.
The 19,200-square-foot building is situated on a 0.22-acre site with off-street parking and is located approximately 0.1 miles from Sutherland Road Station, providing residents with convenient transit access. The combination of transit adjacency, on-site parking, and a stabilized, mid-20th-century multifamily asset contributed to a competitive bidding environment in a market where apartment listings rarely come to market. The transaction underscores the continued appeal of established multifamily assets in core Boston neighborhoods for investors targeting durable income and long-term hold strategies.
