NAI Hunneman brokered the $3.7 million sale of a 35-unit multifamily property located at 144-148 Stevens St. Executive vice president/principal Robert Tito, assisted by sales associate Gina Barroso represented the seller Lynnshore Associates LLC and procured the buyer 252 Revere Beach Parkway LLC.
Located in the Highlands section of the city, 144-148 Stevens St. consists of 3 three-story, interconnected brick garden-steely apartment buildings. Originally built in 1960 and fully renovated in 2001, 144-148 Stevens St. has a total of 35 units.
"144-148 Stevens St. generated significant activity from local buyers due to the lack of multifamily supply in the market, and a very hot suburban rental market," said Tito. "The property was a true value-add opportunity for the Buyer, providing upside potential in rents through property/unit upgrades."
Headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market.
NAI Hunneman is a member NAI Global, the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide. NAI Global manages a network of 6,700 professionals and 375 offices throughout the world. NAI professionals work together with its global management team to help clients strategically optimize their real estate assets.