NAI Hunneman, has brokered the sale of Colonial Arms apartment complex, for $2.7 million.
NAI Hunneman's executive vice president and principal Carl Christie and Dan McGee, an investment sales financial analyst, represented the seller, 3&5 Beaver Park, LLC, and procured the buyer, Coleross James, LLC.
Located at 3 & 5 Beaver Park Rd. , the Colonial Arms is a 36-unit garden-style apartment complex. It includes two 18-unit, 3-story buildings. Built in 1972, the brick and wood frame buildings are located on .73 acres and include 50 parking spaces. The buildings consist of four studios, 11 one-bedroom units and 21 two-bedroom units. Apartment units have wall to wall carpeting in living room and vinyl tile flooring in kitchen and ceramic and vinyl title baths.
"The buyer is holding these buildings as rental property," said Christie. "We're very pleased with this transaction that had attracted a number of investors."
About NAI Hunneman:
Founded in 1929 and headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market. Through its association with NAI Global, NAI Hunneman is a local firm with global reach offering brokerage and project management services in more than 325 markets across the nation and around the world. For more information, visit our website at www.naihunneman.com.