Press Releases
Marcus & Millichap Brokers Sale of 30-Unit Multifamily Property in Methuen, Massachusetts
September 30, 2025
METHUEN, Mass., Sept. 30, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Ashton Place Apartments, a 30-unit multifamily property in Methuen, Massachusetts, for $7.1 million.
“The Merrimack Valley multifamily market continues to have strong demand from investors throughout the region. High occupancy and limited new supply in the workforce housing segment make these assets highly desirable,” said Evan Griffith, senior managing director. “This property was gut renovated several years ago after a fire and rebuilt with modern layouts and finishes. It is no surprise that we had more than 30 property tours throughout the marketing process. The buyer was thrilled to add this turnkey property to their portfolio,” added Tony Pepdjonovic, senior managing director.
Griffith and Pepdjonovic represented the seller and procured the buyer.
Located at 11 Ashton Place, Ashton Place Apartments is comprised of studios, one- and two-bedroom apartments. Recent renovations feature modern kitchens with stainless steel appliances, stone counters and tiled backsplashes, along with updated bathrooms, new flooring and open-concept layouts. The property is conveniently located near multiple shopping centers, 2.2 miles from the Lawrence MBTA station and close to Interstates 93 and 495.
“The Merrimack Valley multifamily market continues to have strong demand from investors throughout the region. High occupancy and limited new supply in the workforce housing segment make these assets highly desirable,” said Evan Griffith, senior managing director. “This property was gut renovated several years ago after a fire and rebuilt with modern layouts and finishes. It is no surprise that we had more than 30 property tours throughout the marketing process. The buyer was thrilled to add this turnkey property to their portfolio,” added Tony Pepdjonovic, senior managing director.
Griffith and Pepdjonovic represented the seller and procured the buyer.
Located at 11 Ashton Place, Ashton Place Apartments is comprised of studios, one- and two-bedroom apartments. Recent renovations feature modern kitchens with stainless steel appliances, stone counters and tiled backsplashes, along with updated bathrooms, new flooring and open-concept layouts. The property is conveniently located near multiple shopping centers, 2.2 miles from the Lawrence MBTA station and close to Interstates 93 and 495.
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
