November 13, 2024 – Spencer Norton, Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a 19-unit multi-family portfolio in Haverhill, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $3,200,000. This represents a price of $168,421 per unit.
The Vine Street Portfolio is comprised of three properties located at 27, 26-28, and 30 Vine Street in Haverhill, Massachusetts. The portfolio consists of nineteen (19) residential units on a combined 0.368-acres of land. The Portfolio has a favorable unit mix with three (3), Studio units, eight (8), 1-Bedroom/1-Bathroom units, seven (7), 2-Bedroom/1-Bathroom units, and one (1), 3-Bedroom/2-Bathroom unit with 14,618 square feet of living area in 23,763 square feet of gross area. The co-located Properties are positioned at the intersection of Vine Street and Pentucket Street in a quiet residential neighborhood just north of downtown Haverhill, which offers a number of retail, dining, employment and entertainment amenities. The Properties provide convenient access to Main Street (MA-125), Winter Street (MA-97), and Merrimack/Washington Street (MA Route 113), the area’s primary commercial and commuter corridors. The Properties are close to several national retailers, including Walgreens, Market Basket, KFC, and Dunkin’ and are within walking distance of several municipal bus stops. The Portfolio enjoys convenient access to Interstate 495 and the Haverhill Train Station, 0.7-miles away. Haverhill is centrally located in Essex County and is roughly 35 miles north of Boston.
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.