January 22, 2020 – Stephen Girolamo of Horvath & Tremblay has successfully completed the sale of 93 Sherman Avenue in Nahant for $261,363 per unit, closing at a cap rate of 4.25%.
93 Sherman Avenue is an 11-unit apartment building located in Nahant, MA. The subject property consists of 9 one-bedroom units, 1 studio unit, and 1 two-bedroom unit. Each unit is equipped with granite countertops, dishwashers, and gas stoves. There are 15 deeded off-street parking spots, a common deck, storage bins, and coin-op laundry. Nine of the eleven units have private balconies overlooking the ocean. Nahant is a town of approximately 3,500 residents, located 14 miles northeast of Boston (by land), 9 miles south of Salem, and 25 miles southwest of Cape Ann.
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.