May 28, 2025 – Stephen Girolamo, Dennis Kelleher and John Pentore of Horvath & Tremblay have arranged the sale of twenty-one multi-family units in Peabody, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to close the property at a sale price of $4,000,000.
The multi-family investment property is located at 111 Main Street in Peabody, Massachusetts. Situated in an incredible high-density, urban-infill residential neighborhood, the location is convenient to area schools, restaurants and bars, area shopping, entertainment venues and is 1.5-miles from Salem Station with service on the Newbury/Rockport Line (MBTA Commuter Rail and Bus Station) and Downtown Salem. 111 Main Street consists of two (2) desirable, three-story buildings and contains a total of twenty-one (21) residential units comprised of a three-family property (front building) consisting of three (3), 3-Bedroom/1-Bathroom units and an 18-unit building (rear building) with eighteen (18) Studio units. The properties feature 10,152 square feet of living area on a 0.30-acre parcel with twelve (12) on-site parking spaces. The well-maintained Property has received significant capital improvements since acquisition including a new parking lot, renovated common areas, exterior updates (painting, siding, shutters), new mechanicals (both buildings), and renovations to most of the unit interiors. The front building is separately metered for electricity, heat and hot water, which the Tenants pay directly. The rear building is separately metered for electricity, and the landlord is responsible for common area electric, heat and hot water. The Landlord is also responsible for domestic water and sewer. Additionally, both buildings are fully sprinklered. 111 Main Street is a well-maintained, fully leased, turnkey investment Property in an exceptional, urban-infill location.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. 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.