August 12, 2021 – Spencer Norton, Dennis Kelleher and John Pentore of Horvath & Tremblay have arranged the sale of a thirteen building, sixty-unit multi-family complex in Groveland, Massachusetts. Horvath & Tremblay represented both the buyer and seller to complete the transaction at a sale price of $10,300,000.
The sixty-unit multi-family complex is located at 1 Manor Drive in Groveland, Massachusetts. The property consists of thirteen two-story, multi-family brick veneer buildings on a 14.4-acre parcel of land. The complex benefits from a secluded park-like setting with abundant green space, mature trees and shrubs, an in-ground swimming pool, and ample on-site parking. The complex is comprised of sixty (60), 2-Bedroom/1-Bathroom garden-style units. The complex features on-site laundry and private balconies. The Property represents a value-add opportunity through a programmatic upgrade to the unit interiors allowing for increased rents. The Manor Drive complex is well located, just off Main Street and less than 1-mile from the Market Basket anchored Haverhill Plaza Shopping Center and less than 2-miles from the areas elementary, middle, and high schools. Additionally, the complex is across the street from the Pines Recreation Area and the banks of the Merrimack River.
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.