February 10, 2023 – Spencer Norton & Stephen Girolamo of Horvath & Tremblay have arranged the sale of two multi-family & mixed-use investment properties in North Andover, Massachusetts. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $3,400,000.
The two properties are located at 19-29 East Water Street & 61-67 Water Street in North Andover, Massachusetts. The Properties contain a total of sixteen (16) units, consisting of one (1) retail unit, six (6) 2-Bedroom/1-Bathroom units, two (2) 2+Bedroom/1-Bathroom units, four (4) 1-Bedroom/1-Bathroom units, two (2) 3-Bedroom/1-Bathroom units, and one (1) studio unit with 11,715 square feet of living area in 16,513 total gross square feet with a combined parcel size of 0.751-acres. 61-67 Water Street and 19-29 E Water Street are 0.4-miles apart and are well-located in a densely populated residential neighborhood in North Andover. Both of the Properties are located in the north end of the city and are close to downtown Lawrence and offer convenient access to area highways, public transportation, schools, retail amenities, and entertainment venues. The Properties are approximately 1.5-miles from the Lawrence Train Station with service to Boston on the MBTA’s Haverhill Line. The locations provide easy access to Interstates 93 and 495 as well as MA Routes 28, 133 and 114 which are just a couple miles from the Property. The Properties are also within 1-mile of the North Andover High School, Middle School and Elementary School and are approximately 2.5-miles from Merrimack College and Lawrence General Hospital.
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.