January 15, 2025 – Ethan Lazar, John Pentore and Dennis Kelleher of Horvath & Tremblay have successfully completed the sale of an 8-unit Multi-family property in Gardner, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,070,000.
55-57 Green Street is a multi-family building in Gardner, Massachusetts. The three-story building contains eight (8) residential units consisting of six (6), 1-Bedroom/1-Bathroom units and two (2), 2-Bedroom/1-Bathroom units with 4,932 square feet of living space in 9,563 square feet of gross area on a 0.45-acre parcel. The well-maintained Property features a renovated common area, has an on-site laundry facility, and on-site parking for twelve (12) vehicles. Additionally, a new roof was just installed this year (2024). The property offers a mostly comprehensively renovated building with rental upside. Seven (7) out of the eight (8) units have been extensively renovated. Unit features include new kitchens featuring granite countertops and stainless-steel appliances, new bathrooms, and new flooring. The opportunity exists to increase rents in the renovated units as well programmatic upgrades to the remaining unrenovated unit to maximize rents in a supply constrained market. The Property is well-located on Green Street, Gardner’s primary north-south corridor and provides convenient access to Downtown Gardner, municipal offices, area schools, Heywood Hospital, Mount Wachusett Community College, and Crystal Lake. The Property is also close to the area’s major roadways and numerous retail amenities around the Route 2 corridor.
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.