Lakeview Avenue Portfolio
27-Unit Multifamily Portfolio | Lowell, MA
Marketing description
Northeast Private Client Group is pleased to present the Lakeview Avenue Portfolio, located at 776 Lakeview Ave & 768 Lakeview Ave with adjacent lots at 10 Island St, and 754.A Aiken Street in Lowell, MA.
776 Lakeview Ave was built in 1937, 12,559 SF GLA, and has been newly renovated in 2024. The building is comprised of thirteen (13) one-bedroom apartments & two (2) fully leased retail units. There is a T-Mobile cell tower that provides additional income along with a coin-op laundry facility. All apartments have 3 rooms: 1 bedroom, kitchen, living room and bath, approximately 800 SF. Each unit is assigned 1 off-street parking space.
768 Lakeview Ave is a 6,903 SF GLA, three story building built in 1900s, consisting of eight (8) one-bedroom apartments. In the rear on Island St there is approximately 986 SF of commercial/warehouse space along with another 2,926 SF building, consisting of four (4) one-bedroom residential units.
Both 10 Island St and 754.A Aiken St are parking lots for both Lakeview Ave buildings. The buildings and parking lots sit on a total of 33,105 square feet of land. All interested and qualified parties can tour the building and obtain additional information upon request.
Investment highlights
Twenty-Five (25) One-Bedroom Apartments, Two (2) Retail Units, Two (2) Parking Lots
33,105 SF (0.76 acres) of Total Land & 23,250 SF of Total Rental Space
776 Lakeview Converted in 2024 – 13 New Units, 2 Fully Leased Retail Spaces, T-Mobile Cell Tower & Coin-Op Laundry
Value-Add Opportunity at 768 Lakeview Avenue Through Interior Renovations & Market Rents on 12 Units
Two parking lots (10 Island St & 754.1 Aiken St)
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