September 15, 2025 – William Peck of Horvath & Tremblay has arranged the sale of Clough Farm Apartments I, a 32-unit Low-Income Housing Tax Credit (LIHTC) multi-family property in Salem, New Hampshire. Peck represented the seller and procured the buyer to complete the transaction at a sale price of $4,200,000.
The Low Income Housing Tax Credit (LIHTC) multi-family property built in 2013 is located at 8 Braemoor Woods Road in Salem, New Hampshire. The Property is a three-story multi-family building containing thirty-two (32) residential units comprised of nine (9), 1-Bedroom/1-Bathroom units and twenty-three (23), 2-Bedroom/1-Bathroom units with 36,057 square feet of living area in 51,460 square feet of gross area on a large 10.20-acre parcel. The units have full maple wood kitchen cabinets and complete modern designs. All units are pre-wired for telephone, cable, and high-speed internet. There is an on-site community center equipped with a kitchen, computer, printer, furniture, tables, and chairs. The Property also provides an on-site laundry facilities and ample on-site parking for tenants and guests with thirty-two (32) covered spaces and twenty-two (22) surface spaces. Clough Farm Apartments is located in a quiet residential setting with ample green space and is seconds from S Broadway (NH Route 28) the area’s primary commercial corridor. The Property is convenient to the town’s national and local retailers and restaurants, Tuscan Village (a 170-acre mixed-use development), schools, and numerous parks and recreation areas. Additionally, the Property is close to Interstate 93, NH Routes 28 and 38, and is close to Lawrence, MA, Lowell, MA Manchester NH and Nashua, NH, the area’s largest cities which provide access to cultural and entertainment centers, higher education centers, and major employers.
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.