September 23, 2025 –Dennis Kelleher, John Pentore and Stephen Girolamo of Horvath & Tremblay have successfully completed the sale of a twenty (20) unit multi-Family property in Lynn, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $3,600,000 and $180,000 per unit.
39 Newhall Street is a multi-family property in Lynn, Massachusetts. The multi-family property contains a total of twenty (20) units, consisting of six (6), 2-Bedroom/1-Bathroom units, eleven (11), 1-Bedroom/1-Bathroom units and three (3) Studio units. Each unit is separately metered for electricity and gas-fired head, which the tenants pay directly. The landlord is responsible for hot water, common area electric and domestic water and sewer. In-place leases are significantly below market rates; the opportunity exists to upgrade the unrenovated unit interiors to drive rental rates in an urban-infill, high demand/supply-constrained residential market. 39 Newhall Street is well-located in a densely populated residential neighborhood just east of downtown Lynn, with convenient access to both local and regional transportation, as well as retail amenities around Lynn’s Central Square. The Property is a short walk from Central Square, the primary commercial area in Downtown Lynn that offers convenient access to an array of “downtown” amenities, including retailers, restaurants, entertainment, and public transportation. Additionally, The Property is 0.3-miles from the Central Square commuter rail station with services to Boston’s North Station, and 11 miles from Downtown Boston.
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.