Peck of Horvath & Tremblay arranges sale of Clough Farm Apartments, 32-unit affordable housing for $4.2 million

Salem, NH William Peck of Horvath & Tremblay has arranged the sale of Clough Farm Apartments, a 32-unit Low-Income Housing Tax Credit (LIHTC) multi-family property. Peck represented the seller and procured the buyer to complete the transaction at a sale price of $4.2 million.

The Low Income Housing Tax Credit (LIHTC) multi-family property built in 2013 is located at 8 Braemoor Woods Rd. The property is a three-story multi-family building containing 32 residential units comprised of nine, one-bedroom/one-bathroom units and 23, two-bedroom/one-bathroom units with 36,057 s/f of living area in 51,460 s/f of gross area on a large 10.20-acre parcel. The units have full maple wood kitchen cabinets and complete modern designs. All units are pre-wired for telephone, cable, and high-speed internet. There is an on-site community center equipped with a kitchen, computer, printer, furniture, tables, and chairs. The property also provides on-site laundry facilities and on-site parking for tenants and guests with 32 covered spaces and 22 surface spaces. Clough Farm Apartments is located in a residential setting with green space and is near South Bdwy. (NH Rte. 28) the area’s primary commercial corridor. The property is near the town’s national and local retailers and restaurants, Tuscan Village (a 170-acre mixed-use development), schools, and parks and recreation areas. Additionally, the property is close to I-93, NH Rtes. 28 and 38, and is close to Lawrence, Mass., Lowell, Mass. Manchester N.H. and Nashua, N.H., one of the area’s largest cities which provide access to cultural and entertainment centers, higher education centers, and major employers.