September 30, 2024 – Dennis Kelleher, John Pentore and Spencer Norton of Horvath & Tremblay have successfully completed the sale of a 2-unit multi-family property in Lowell, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $660,000. This represents a price of $330,000 per unit.
5 Mt Washington Street is a multi-family building in Lowell, Massachusetts. The Property is well-located in The Acre neighborhood of Lowell’s Downtown. The Property contains two (2) units comprised of one (1) 4-Bedroom/2-Bathroom unit and one (1), 4-Bedroom/1-Bathroom unit with 2,910 square feet of living area in 4,557 gross square feet on 0.06-acres of land. The building is well located in Downtown Lowell, positioned adjacent to the intersection of Mt Washington Street and Pawtucket Street. The Property is located approximately 0.6-miles from a Market Basket grocery store) and Walgreens and is within 1-mile of countless restaurants and retailers scattered throughout Lowell’s Downtown. The Property is also just 2.25-miles from the commercial corridor at the junction of the Lowell Connector, Interstate 495 and US Route 3, and 3.3-miles from a commercial corridor at the junction of Interstate 495 and MA Route 38. The Property enjoys convenient access to UMass Lowell, the Lowell General Hospital, several area schools, local and national retailers, area businesses, and the Lowell Train Station. Lowell is a vibrant city of 111,000 residents, making it the second largest city in the Boston MSA, and home to UMass Lowell, the second largest public university in the state which has an enrollment in excess of 18,000 students. The area is also home to Middlesex Community College which has an enrollment of 13,000 students.
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.