December 23, 2021 – Stephen Girolamo of Horvath & Tremblay has arranged the sale of 24-30 Franklin Street in Lynn, Massachusetts. Girolamo exclusively represented seller to close the property at a sale price of $5,050,000.
24-30 Franklin Street is two-building multi-family property in Lynn, Massachusetts that contain a total of twenty-six (26) units, consisting of one (1) 4-Bedroom/1-Bathroom unit, six (6) 2-Bedroom/1-Bathroom units, eighteen (18) 1-Bedroom/1-Bathroom units, and one Studio unit in 20,989 square feet of living area (29,379 square feet of gross area), on a 0.289-acre parcel. The Property features off-street parking for thirteen cars and on-site laundry. Additionally, over half of the apartments have been renovated and additional capital improvements to the buildings include renovated common areas, a new roof, 176 new windows and a new, high-efficiency hot water heater. 24-30 Franklin Street is well-located in a densely populated residential neighborhood adjacent to downtown Lynn, with convenient access to both local and regional transportation, as well as retail amenities around Lynn’s Central Square. The Property is situated just outside of Central Square, the primary commercial area in Downtown Lynn that offers convenient access to an array of “downtown” amenities, including retail, restaurants, entertainment and public transportation. Additionally, Franklin Street is just half a mile from the Central Square commuter rail station with services to Boston’s North Station, and 11 miles from Downtown Boston.
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.