May 2, 2025 – Stephen Girolamo of Horvath & Tremblay has arranged the sale of fifteen lodging house units in Salem, Massachusetts. Horvath & Tremblay represented the seller and procured the buyer to close the property at a sale price of $1,300,000.
The lodging house investment property is located at 10 Howard Street in Salem, Massachusetts. The lodging house property comprised of a four-story fifteen (15) Room Lodging House with six (6) bathrooms in 5,110 square feet of total gross area on a 0.04-acre parcel of land. The Landlord is responsible for all utilities. The Property was delivered vacant offering significant upside through the repositioning of the asset. The Property is well-located in the center of Salem’s Downtown. Positioned along Howard Street, the Property enjoys convenient access to Bridge, Washington, and North Streets, three of the area’s primary commercial corridors, as well as the center of Downtown Salem, Salem Harbor, Salem Hospital, and area schools. The location is walkable to numerous dining, drinking, shopping, cultural and entertainment amenities. The Property is also a short walk from MBTA Bus Routes, providing convenient local access throughout the North Shore and the Salem Train & Bus Station 0.4 miles from the Property. Salem is located 15 miles along the north shore from Downtown Boston, a major draw for many of the city’s residents.
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.