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News: Front Section
Posted: March 4, 2022
Norton of Horvath & Tremblay arranges $911,000 sale of a six-unit apartment building in Lowell, MA
Lowell, MA Spencer Norton of Horvath & Tremblay has arranged the sale of a multifamily property. The six-unit apartment building closed for $911,000 at a 5.07% Cap Rate.
Built in 1900, 244-246 Concord St. contains six units made up of four three-bedroom/one-bathroom units and two one-bedroom/1-bathroom units with 6,359 s/f of livable space in 8,840 gross s/f on a 0.10-acre lot and includes three tandem off-street parking spaces. The property is located a few blocks away from Moody Elementary School and 0.2-miles from Church St./Andover St. (MA Rte. 110), which leads directly to the city center (0.75-miles).
The location provides access to the area’s major highways – Lowell Connector, Rte. 3 and I-495.
Public transportation is also available 1,000 feet from the property via LRTA Bus which runs along High St. and connects to downtown and offers service throughout the city.
The Lowell Commuter Rail Station, providing train service to Boston, is located 1.1-miles 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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