December 22, 2021 – Spencer Norton of Horvath & Tremblay has arranged the sale of an eleven-unit multi-family property in Lawrence, Massachusetts. Norton exclusively represented the seller to complete the transaction at a sale price of $1,085,000.
The multi-family property is located at 279-289 Park Street in Lawrence, Massachusetts. The Property contains eleven (11) units comprised of nine (9), 2-bedroom/1-bathroom units and two (2), 1+-bedroom/1-bathroom units (these units have a bonus room). The Property contains 8,720 square feet of livable space, in 11,600 gross square feet, on a 0.15-acre corner lot. The Property features separately metered electricity, gas heat, and gas-fired hot water, which the tenants pay directly. 279-289 Park Street is located 300 feet away from Arlington Middle School, 0.3-miles from John Tarbox Elementary School and 0.4-miles from Central Catholic High School. The Property is less than 1-mile from Holy Family Hospital – Methuen and 1.5-miles from Lawrence General Hospital. The Property is 0.2-miles from Broadway (MA Route 28), which is the primary commercial corridor running through Lawrence center. The Property is located less than 500 feet from a Food Market on Park Street and a short 10-minute walk from CVS, Walgreens, 7-Eleven and downtown Lawrence. Additionally, Broadway (MA Route 28) offers numerous restaurants and is less than a 5-minute walk from the Property. The Location provides convenient access to the area’s major highways – MA Route 28, Interstate 93 and Interstate 495. Public transportation is also available 1,000 feet from the Property via MVRTA Bus stops which run along Park Street, Hampshire Street, and Broadway, and connects to Downtown Lawrence and offers service throughout the city and the Merrimack Valley. The Lawrence Commuter Rail Station, providing train service to Boston, is located 1.7-miles from the Property.
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.