January 11, 2023 – Will Peck of Horvath & Tremblay has arranged the sale of the Elaine Street Portfolio, 41 residential units in Hampton, New Hampshire. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $8,100,000 and $197,561 per unit.
The Portfolio consists of three adjacent multi-family properties located at 1 and 3 Elaine Street and 383 Winnacunnet Road in a highly-desirable residential neighborhood. The Properties are 1-mile from North Beach and 1.5-miles from Downtown Hampton. The Portfolio contains forty-one (41) units consisting of twenty-five (25) 2-Bedroom/1-Bathroom units (one of which is a duplex unit), fourteen (14) 1-Bedroom/1-Bathroom units, and two (2) Studio units. The Portfolio is comprised of 30,961 square feet of living area in 33,532 square feet of total gross area on a combined 1.25 acres of land. The Portfolio consists of four (4) individual parcels, one for each building and a lot dedicated to parking adjacent to 383 Winnacunnet Road. The Portfolio features fifty-five (55) on-site parking spaces. The Elaine Street Portfolio is situated at the intersection of Elaine Street and Winnacunnet Road in an attractive tree-lined residential neighborhood 1-mile from North Beach, 2-miles from Hampton Beach, 1.5-miles from Downtown Hampton and US Route 1, and 3-miles from Interstate 95. The Properties provide convenient access to the shores of the Atlantic Ocean, area retailers and nearby areas of employment including Portsmouth, NH, and Haverhill and Lawrence, MA. Additionally, the Portfolio is conveniently located approximately 1-hour from Boston, MA and Portland, ME.
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.