Christie and McGee of NAI Hunneman broker $1.6 million sale of 28-unit apartment/commercial property in Lynn

NAI Hunneman, has brokered the $1.6 million sale of 653-661 Western Ave. consisting of 28 apartment units and one commercial building. NAI Hunneman's Carl Christie, executive vice president and sales associate Dan McGee represented the seller, Avalon Realty, LLC, and procured the buyer, Stanley Bailey, LLC. "The property generated a great deal of interest from apartment building investors.The rent roll was stable and the existing cash flow provided attractive returns. Assets such as this, in this market, should receive multiple offers, and this was no exception," said Christie. Located 10 miles north of downtown Boston, 653-661 Western Ave. offers a total of 28 apartment units in two buildings along with a commercial building that houses a barber shop and an additional building that serves as a storage facility. The apartment buildings were built around 1900, but were renovated 20 years ago. The site also contains off-street parking. 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.