
Lynn, MA North Shore Realty Advisors Inc. brokered the sale of The School House Apartments located at 505-509 Chatham St. The property has not been available to the open market since 1984.
The School House Apartments is a three-story residential brick 12-unit with 12 off-street parking spaces, and an on-site laundry facility.
The School House Apartments unit-mix consists of two, one-bedroom units and 10, two-bedroom units. The total rentable space is 11,004 s/f with a total gross square footage of 13,818 s/f. The School House Apartments offer investors the opportunity to bring undervalued rents to market through renovations of the apartments.
Dan and Sara Pouladian navigated through a “call for offers” process with multiple offers and two rounds of negotiations for this offering. North Shore Realty represented the seller and procured the buyer.
Supply chain delays are slowing construction, ratcheting up operating costs, and extending turnover timelines across Greater Boston, directly reducing revenue and increasing the workload for multifamily and