October 21, 2024 – Spencer Norton of Horvath & Tremblay has successfully completed the sale of a 4-unit multi-family property in North Andover, Massachusetts.  Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,300,000. This represents a price of $244 per square foot.

146 MIddlesex Street is a multi-family building in North Andover, Massachusetts. The Property contains four (4) residential units comprised of two (2), 1-Bedroom/1-Bathroom units, one (1), 2-Bedroom/1-Bathroom unit, and one (1) 3+Bedroom/1.5-Bathroom unit with 5,332 square feet of living area in 7,331 total gross square feet on a 0.71-acre corner parcel. Each of the units features a full kitchen with dishwashers, and the Property features an on-site laundry facility, abundant on-site parking, well maintained green space, and the 3+Bedroom unit features a private fenced in back yard with a large patio and in-ground pool. 146 Middlesex Street is a value-add Property; current rents in the Property are below market rates and offers the opportunity to increase rents to market rates by renovating the two (2) unrenovated units. The Property is well-located in the northern section of North Andover, a predominantly working-class residential area 2-miles southwest of Downtown Lawrence, the area’s largest city, offering employment opportunities and a wide range of area shopping and national retailers. The Property is located in a residential urban infill area, with nearby amenities including local restaurants and retailers along Water Street and High Street and in the restored East and West Mill complexes. The Property is approximately 1.3-miles from the Lawrence Train Station with service to Boston on the MBTA’s Haverhill Line. The location also provides 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.

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.