–Leading investment sales firm represents the seller and procures the buyer for the mixed-use property in Lowell, Massachusetts–
Newton, MA (APRIL 4, 2023)– Northeast Private Client Group® (NEPCG) has announced the sale of the Middlesex Street Apartments in Lowell, Massachusetts. Senior Associate Brad Carlson represented the seller and procured the buyers for the mixed-use transaction. Middlesex Street Apartments:located in Lowell, Massachusetts, sold for $4,000,000.
This 28-unit mixed-use property is located conveniently in downtown Lowell, less than one mile from the Lowell MBTA commuter rail station. The building includes four (4) commercial storefronts and 24 residential apartments totaling 35,475 SF. At a price per unit of $142,857, the property traded at a capitalization rate of 7.35%.
“Lowell has continued to be one of the strongest tertiary markets outside Boston, MA. I believe we will continue to see rent growth and population growth in this area. We were thrilled to represent the seller and procure the buyer on this transaction.” – Brad Carlson, Senior Associate
Northeast Private Client Group® specializes in mixed-use, retail, and multifamily real estate, exclusively representing investors, property owners, and professional real estate investors. To date, more than 1000 successful transactions have been completed totaling over $3 billion in value within local submarkets around the Northeast and Southeast regions of the United States.