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Northeast Non-public Shopper Group Facilitates Sale of Multifamily Property in Lawrence

NEWTON– Northeast Non-public Shopper Group introduced the sale of the South Broadway Flats in Lawrence, MA.

Senior Affiliate Brad Carlson represented the vendor and procured the patrons for the multifamily transaction. South Broadway Flats bought for $2,100,000.

A stone’s throw from the Merrimack River, South Broadway Flats sits within the coronary heart of Downtown South Lawrence, ideally positioned inside strolling distance of grocery shops and eating places. The South Broadway Flats contains 39 residential models throughout three flooring and 17,706 sq. toes. At a worth per unit of $53,846, the property traded at a capitalization fee of 9.05%.

“Lawrence, a suburb of Boston, has seen large progress as a consequence of its year-over-year inhabitants improve. The funding poured into Lawrence during the last ten years has resulted in rising rents. This SRO “single room occupancy” property gives the market with a low-cost housing choice. These properties are traditionally extra administration intensive than typical house buildings; the prior homeowners had no methods in place for this stage of property administration. They reached out to me to see if I may assist them promote the property earlier than the top of the 12 months. We delivered the sellers a clear provide with no contingencies and closed on the property inside three weeks of our preliminary advertising. Via our course of and community of patrons, we have been in a position to execute this sale earlier than the top of the 12 months. We anticipate to proceed to be the highest trusted advisors for sellers of house buildings all through New England,” mentioned Brad Carlson, Senior Affiliate at Northeast Non-public Shopper Group.

The submit Northeast Private Client Group Facilitates Sale of Multifamily Property in Lawrence appeared first on Boston Real Estate Times.