October 23, 2020 – Stephen Girolamo of Horvath & Tremblay has arranged the sale of 8 Flume Road in Gloucester, Massachusetts. Girolamo exclusively represented the seller and procured the buyer to close the transaction at a sale price of $2,250,000, a price per unit of $150,000.
8 Flume Road is a multi-family property, containing 15 units in Gloucester, Massachusetts. The property is comprised of twelve (12), 1-Bedroom/1-Bathroom units and three (3), studio units in 5,500 square feet of living area on a 0.34-acre parcel with 21 off-street parking spaces. The property has been well maintained and has an attractive brick façade and a new roof. 8 Flume Road is exceptionally well located in a quiet residential neighborhood on Magnolia Point in the Magnolia neighborhood of Gloucester. The property is just 1/3-mile from Gray Beach and 3-miles from both the Manchester-by-the-Sea and West Gloucester MBTA Train Station with service to Boston along the Newburyport/Rockport Line. The property is less than 4-miles from the Yankee Division Highway/Route 128.
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.