News: Front Section
Posted: February 16, 2018
Kelleher, Pentore and Girolamo of Horvath & Tremblay broker $5.3 million sale of two multifamily buildings
Lynn, MA Dennis Kelleher, John Pentore and Steven Girolamo of Horvath & Tremblay have arranged the sale of 34-38 Hanover St. The property sold at a price of $5.35 million and a price per unit of $148,611.
The property consists of two, identical, 18-unit turn-key, garden style apartment buildings. In total, there are 24 two-bedroom, one-bathroom units and 12 one-bedroom, one-bathroom units. 31 out of the 36 units were renovated and additional updates include hallways and common areas, new windows, new gas heat boilers (forced hot water baseboard) and hot water heaters. The seller also built a new laundry room in each building, with new coin operated washers and dryers. Off-street parking is also available for tenants of the property.
34-38 Hanover St. is located within walking distance to both local and regional public transportation as well as the city center. It is a ten minute walk to the Lynn Central Sq. Commuter Rail station.
Additionally, several bus routes are located just two blocks from the property.
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.
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