Revere, MA North Shore Realty Advisors, Inc has completed the sale of The Washington Apartments located at 257 Washington Avenue. The Washington Apartments was constructed in 2023 which is a 3-story elevator serviced luxury apartment community consisting of thirty-six (36) apartment homes. The total gross s/f is 51,518± with a rentable s/f of 39,204± and situated on a .57 Acres lot (24,825± s/f). The unit matrix consists of four (4) studios, four (4) lofts with 2 bathrooms, ten (10) one-bedrooms, and eighteen (18) two-bedroom two-bathrooms units. The property also featured a community room, mail room, 46 covered parking spots, and an on-site management office.

North Shore Realty would like to congratulate both the Seller and the Buyer for a smooth 1031 exchange transaction. The final sale of $16.2 million represented a going-in cap rate of 5.5% with upside within the rents and additional parking income.