June 24, 2024 – Stephen Girolamo of Horvath & Tremblay has successfully completed the sale of a 30-unit multi-Family property in Lynn, Massachusetts. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $4,800,000.
33 Lincoln Street is a multi-family building in Lynn, Massachusetts. The Property is improved by a four-story multi-family building with thirty (30), 1-Bedroom/1-Bathroom units with 17,033 square feet of living area on a 0.23-acre parcel of land. The Landlord pays for common area electric, hot water, heat for several of the units, and domestic water and sewer. In-place residential leases are well below market rates, offering the ability to significantly drive income by bringing rents up to market and via programmatic updates to unrenovated units. The Property is well-located on Lincoln Street, one block from Chestnut Street and a few blocks from Downtown Lynn. The location is walkable to numerous dining, drinking, shopping, cultural and entertainment amenities including the Price Rite, Walgreens, Central Square, and North Shore Community College. The Property is located on Lincoln Street just minutes from Routes 1A and 107. Multiple MBTA bus routes, including 436, 455, and 456 stop near the Property, providing convenient local access throughout the North Shore including to the nearby Commuter Rail Stations. Commuter Rail Service to Boston is available 0.6 miles from the Property at the Central Square commuter rail station.
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.