April 27, 2021 – Stephen Girolamo of Horvath & Tremblay has arranged the sale of three buildings with seven (7) multi-family units in Beverly, Massachusetts. Girolamo exclusively represented the seller to complete the transaction at a sale price of $1,275,000.
The three-building, multifamily investment property is located at 10, 12 & 12.5 May Street in Downtown Beverly on the north shore of Massachusetts. The three buildings contain a total of seven units consisting of two (2) 1-Bedroom/1-Bathroom units, and five (5) 2-Bedroom/1-Bathroom units, in 4,779 square feet of living area (8,904 square feet of total area) on 0.771-acres of land. The property is improved by 12 on-site parking spaces. 10, 12 & 12.5 May Street is well-located on a residential side street in Downtown Beverly. The Property is situated just east of Cabot Street, one of the two main streets in Downtown Beverly, and offers convenient access to an array of “downtown” amenities, including retail, restaurants, entertainment, and public transportation. Additionally, Railroad Avenue is a 5-minute walk (1/3 mile) from the Beverly Depot commuter rail station with service to Boston’s North Station. Located just 15 miles north of Boston, Beverly is a highly sought-after commuter location, with convenient access to Boston and the communities along the North Shore via Interstate 95, MA Route 128, US Route 1, and the Newbury/Rockport Line of the MBTA Commuter Rail, which has five stops within the city. Beverly is home to two colleges, Endicott College and Montserrat College of Arts, and Gordon College is just a few miles away in neighboring Wenham.
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.