December 6, 2023 – Will Peck of Horvath & Tremblay has arranged the sale of a thirty-two-unit multi-family Property in Nashua, New Hampshire. Horvath & Tremblay exclusively represented both buyer and seller to close the property at a sale price of $3,200,000, which represents an 8.74% Cap Rate and a per unit price of $100,000.
The multi-family properties are located at 14-20 and 26-32 Amory Street in Nashua, New Hampshire. The Properties are comprised of two co-located multi-family buildings and contain a total of thirty-two (32) units, consisting of twenty-three (23) studio units, three (3) 1-Bedroom/1-Bathroom units, three (3) 2-Bedroom/1-Bathroom units, and three (3) 3-Bedroom/1-Bathroom units with 14,920 square feet of living area in 21,234 square feet of total gross area on 0.418-acres of land. The Properties have been well maintained and include on-site laundry facilities and ample off-street parking in the rear of the buildings. The current rents are significantly below market. The opportunity exists to increase rents to market rates via programmatic updates to the units in a highly sought after and supply constrained urban infill residential market. The Properties also boast low-maintenance vinyl siding, and asphalt shingle and flat rubber roofs. Amory Street is seconds from E Hollis Street, and is just 0.7-miles from Main Street, all of which provide access to local bus lines, with service on Routes 1, 3, 7, and the Night North as well as highway access 2-miles away on the Everett Turnpike (US Highway 3). 14-20 & 26-32 Amory Street are well-located in Downtown Nashua, with convenient access to an appealing array of restaurants, bars, retail and entertainment. Nashua offers a vibrant mix of local favorites as well as nationally recognized retailers and restaurants, such as Shaw’s, Ocean State Job Lot, CVS, Dollar General, Wendy’s, McDonald’s, CVS, and Dunkin’.
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.