March 22, 2019 – Dennis Kelleher, John Pentore and Stephen Girolamo of Horvath & Tremblay have successfully completed the sale of 653-659 Western Avenue in Lynn, MA. The 30-unit deal consists of a 14-unit residential building, a 15-unit residential building and a hair salon. The property sold at a price of $4,050,000 and at a 5.6% cap rate.
653-659 Western Ave consists of (19) one-bedroom units, (5) studio units, (5) two-bedroom units and Desi’s Hair Design. Property amenities include off-street parking, co-op laundry, gas cooking, and lead certifications. 653-659 Western Avenue is well located in a densely populated residential neighborhood adjacent to downtown Lynn with convenient access to both local and regional public transportation. It is just over 1 mile from Lynn Central Square Station.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.