April 30, 2020 – Stephen Girolamo of Horvath & Tremblay has arranged the sale of 122 Boston Street in Salem, Massachusetts. Girolamo represented both buyer and seller to close the property at a sale price of $1,175,000, a cap rate of 4.15 percent, and a price per unit of $195,833.
122 Boston Street is a mixed-use property, containing a total of 6 units spread over two buildings. The property is comprised of 3 one-bedroom units, 2 three-bedroom units, and a barbershop. The buildings have separate utilities with the landlord supplying heat and hot water to two units, and share ten off-street parking spaces. The Property is well located in Salem, just over a mile from Salem’s Historic Downtown, and approximately one mile from Salem’s Commuter rail. Salem is located 15 miles along the north shore from downtown Boston, a major draw for many of the city’s residents.
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.