January 26, 2021 – Will Peck of Horvath & Tremblay has arranged the sale of a 21-unit apartment building in Manchester, New Hampshire. Peck exclusively represented the seller to complete the transaction at a sale price of $2,452,000.
The multi-family property is located at 144 Lake Avenue in Manchester, New Hampshire. The Property is improved by a three-story, apartment building, containing twenty-one (21) rental units on a 0.23-acre lot. The unit matrix includes three (3), 1-Bedroom/1-Bathroom units and eighteen (18), 2-Bedroom/1-Bathroom units in 17,244 square feet of living area and 22,992 gross square feet. 144 Lake Avenue features desirable unit layouts, upgraded, separately metered electricity, which the tenants pay directly, upgraded boilers, on-site laundry, and ample off-street parking. The Property benefits from an excellent location in downtown Manchester, New Hampshire’s largest city. The property is less than ½-mile from both Southern New Hampshire University and University of New Hampshire at Manchester and is one-block away from the SNHU Arena. The Property is within walking distance of a multitude of national and local retailers, restaurants, offices, and entertainment venues. 144 Lake Avenue also offers convenient highway access to Interstates 93 and 293.
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.