Kelleher, Pentore and Girolamo of Horvath & Tremblay broker $3.74 million apartment building sale

February 08, 2019 - Front Section
10 & 12-14 Summer Street - Salem, MA

Salem, MA Dennis Kelleher, John Pentore and Stephen Girolamo of Horvath & Tremblay have arranged the sale of 10 Summer St. and 12-14 Summer St. The two buildings sold for $3.74 million, a cap rate of 5.28% and a price per unit of $133,571.

The two apartment buildings contain a total of 28 units, consisting of 6 one-bedroom units and 22 studio units with off-street parking available for the tenants. Located in downtown, the location offers convenient access to multiple shopping, cultural, dining and entertainment options. Salem State University is located within 1½ miles of the property.

Dennis Kelleher

 

John Pentore

 

Stephen Girolamo

 

 

The transit-oriented location offers walkable access to several bus lines that provide express service to Downtown Boston and the MBTA’s Wonderland Station. Commuter rail service is also available from the Salem or Swampscott Commuter Rail Stations, both located less than ten minutes from the property.

Comments

Add Comment


More from the New England Real Estate Journal