Methuen, MA Northeast Private Client Group (NEPCG) has completed the sale of Lowell Street Apartments. Investment associate Brad Carlson, senior associate Drew Kirkland, and associate Brett Curtis represented the seller and procured the buyer for the multifamily transaction.

80 Lowell St. sold for $2.505 million. With a price of $208,750 per unit, this was a record-breaking sale in the area for this style of building. A 1970 construction, seven units of the 9,399 s/f garden-style apartment property underwent recent renovations in 2020. The brick building consists of 11 two-bedroom and one one-bedroom units. The property has off-street parking for all tenants, with a total of 14 spots.

“Due to this property’s location, updated modern looking apartments, and rent growth in the area, there was a lot of demand for this asset. It was a pleasure working with both the buyer and seller to ensure a smooth closing in less than 60 days,” said Carlson.