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Lowell Multifamily Property Sold For $3.7M

Jul 21, 2015 | Reprints | Unlock Link | Print

Lynnshore Assoc. LLC has sold a 35-unit multifamily property at 144-148 Stevens St. in Lowell for $3.7 million to 252 Revere Beach Parkway LLC.

The property in the Highlands neighborhood contains three three-story, brick garden-style apartment buildings built in 1960 and renovated in 2001.

NAI Hunneman’s Robert Tito and Gina Barroso represented the seller and procured the buyer.

“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,” Tito said in a statement. “The property was a true value-add opportunity for the buyer, providing upside potential in rents through property/unit upgrades.”

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