March 5, 2019 – Spencer Norton of Horvath & Tremblay has successfully completed the sale of 86 Baldwin Street in Lowell, MA. The apartment building sold at a price of $960,000 and $120,000 per unit.
86 Baldwin Street is an 8-unit multi-family investment property consisting of (4) one-bedroom units and (4) two-bedroom units with off-street parking available for all apartments. The attractive, wood-framed building is situated on a residential street directly across from Hadley Park. In addition, located in close proximity is UMass-Lowell, a national research university with over 18,000 students. The value-add property with TAW agreements for all apartments allows the investor to increase rental rates in an efficient manner with programmatic upgrades to the property.
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.