March 22, 2021 – Steve Girolamo of Horvath & Tremblay has successfully completed the sale of two Multi-Family properties, a 4-unit and a 5-unit in Peabody, Massachusetts. Situated at 17-19 & 21 Bowditch Street, Girolamo exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,910,000 and $212,222/unit.
17-19 Bowditch Street is a two-story, brick building containing four units, consisting of two (2) 3-Bedroom/1-Bathroom units and two (2) 1-Bedroom/1-Bathroom units, in 2,860 square feet of living area on a 0.15-acre parcel. 21 Bowditch Street is a three-story building containing five units, consisting of four (4) 2-Bedroom/1-Bathroom units and one (1) 1-Bedroom/1-Bathroom unit, in 3,614 square feet of living area on a 0.15-acre parcel. The dynamic of the densely developed Downtown Peabody real estate market offers limited opportunity for new supply, and historically strong demand for housing. Apartment demand in the area is driven by a diverse mix of families, white-collar professionals and blue-collar workers attracted by the access to area highways, convenience to Boston and proximity to north shore beaches. Located just 15 miles north of Boston, Downtown Peabody offers convenient access to the city and all of the North Shore via nearby Interstate 95, MA Route 128 and US Route 1. Public Transportation is also easily accessed via several MBTA Bus Routes in Downtown Peabody, the Logan Express Service on Route 1 and the commuter rail service to Boston’s North Station in nearby Salem.
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.