October 1, 2020 – Will Peck of Horvath & Tremblay has arranged the sale of a three building, eleven-unit multi-family portfolio in Rochester, New Hampshire. Peck represented both the buyer and seller to complete the transaction at a sale price of $1,100,000.
The multi-family portfolio is comprised of three properties on Lafayette Street in Rochester, New Hampshire. 5-7 Lafayette Street consists of a two-story, multi-family home containing four (4) units on a 0.10-acre parcel with on-site parking. The unit matrix includes one (1), 2-Bedroom/1-Bathroom unit, one (1), 3-Bedroom/1-Bathroom unit, and two (2) 4-Bedroom/1-Bathroom units. 8-10 Lafayette Street consists of a three-story, multi-family home containing three (3) 3-Bedroom/1-Bathroom units on a 0.12-acre parcel with on-site parking and a 2-car garage. 22-24 Lafayette Street consists of a two-story, multi-family home containing four (4) units on a 0.30-acre parcel with on-site parking. The unit matrix includes one (1), 1-Bedroom/1-Bathroom unit, and three (3) 2-Bedroom/1-Bathroom units. The Portfolio represents a value-add opportunity through a programmatic upgrade to the unit interiors and building exteriors allowing for increased rents in each of the properties. The Lafayette Street Portfolio is well located, less than 1/3-mile from the Intersections of North Main Street, South Main Street and Wakefield Street, the commercial center of Rochester. Additionally, the properties are just a few hundred yards from the Cocheco River and the North Main Street/Cove Court bus stop.
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.