November 22, 2024 – Spencer Norton of Horvath & Tremblay has successfully completed the sale of a 2-unit Multi-family property in Lowell, Massachusetts. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $660,000. This represents a price of $330,000 per unit.
479 Stevens Street is a multi-family building in Lowell, Massachusetts. The Property is well-located in the Highlands neighborhood of Lowell. The Property contains two (2), 3-Bedroom/1-Bathroom units with 2,370 square feet of living area in 4,792 gross square feet on 0.07-acres of land. The Property features on-site laundry and offers two (2) parking spaces. 479 Stevens Street is in a densely populated residential neighborhood just outside of Lowell’s Downtown. The Property is close to Chelmsford Street, one of the area’s primary commuter corridors running directly through the city center. The Property offers convenient access to Lowell’s most frequented neighborhoods including The Acre, Back Central, and Centralville, and is a short walk (approximately 1.2-miles) from UMass Lowell’s South Campus and is 2.3-miles from UMass Lowell’s East Campus and Middlesex Community College. The Location provides convenient access to the area’s major highways including the Lowell Connector, Route 3 and I-495. The Lowell Commuter Rail Station, providing train service to Boston, is located 1.3-miles from the Property and public transportation is also available in front of the Property via the LRTA Bus Line which runs along Stevens Street, and connects to Downtown Lowell and offers service throughout the city. 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.