Plymouth, MA Jason Kulik of Horvath & Tremblay has completed the sale of the Summer St. Portfolio, an eight-unit multifamily portfolio. Kulik exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1.85 million.
The multifamily portfolio consists of four adjacent, two-family buildings located at 119, 121, 125, and 127 Summer St. The properties contain a total of eight, two-bedroom/one-bathroom units with 7,876 s/f of living area in 13,297 s/f of total gross area, across 0.9 acres, with 20 off-street parking spaces.
Each of the properties have separate utilities with the tenants responsible for their individual electricity, heat, and hot water. The opportunity exists to drive rental rates through programmatic upgrades and renovations to units and common areas.
The Summer St. Portfolio is located in a sought-after market and is typically fully occupied with low historical vacancy. The property is located .5-miles from downtown which offers shopping, restaurants, and cultural venues. The property is also 2.5-miles from the Plymouth Train Station and close to outdoor recreation amenities including the Plymouth Harbor, Nelson Beach, Town Brook Park, Plymouth Rock and Mayflower II historical sites.