December 31, 2020 Jason Kulik of Horvath & Tremblay has successfully completed the sale of a 12-unit Multi-Family Property in Rockland, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,985,000.
The multi-family properties are located at 67 and 71 John A Dunn Memorial Drive in Rockland, Massachusetts. The property consists of two adjacent buildings containing a total of 12 rental units and 24 bedrooms with shared off-street parking. 67 & 71 John A Dunn Memorial Drive each contain six (6), 2-Bedroom/1-Bathroom Units. The property features on-site parking for up to 24 vehicles. The property is well-located near major roadways, at the junction of Route 123 and 139, and is 300ft from BAT Rockland Flex Service, Studley Court stop and offers residents shopping, dining and entertainment within walking distance. The property is located 20 miles south of Boston and less than 4 miles southwest of Route 3, the primary highways serving Boston’s South Shore commuter towns. The property has upside potential as in-place rents are below the current market rent for comparably renovated units in the market, offering the Buyer the potential to raise rents and increase current revenue through a programmatic upgrade of the common areas and units. All current tenants are “tenant-at-will”.
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.