Union And Grove Apartments

36-unit multi-family garden property located at 70-72 Union Street & 17-19 Grove Street in Methuen, Massachusetts. The property consists of two predominantly three-story apartment buildings. The improvements were constructed in 1970, significantly renovated in 2020. The subject's unit mix consists of two (2) studio units, ten (10) one bedroom units and twenty-four (24) two bedroom units with an average unit size of 676 square feet.

The City of Methuen is located in the Lower Merrimack Valley, in northeastern Massachusetts, on the New Hampshire border, at the junction of Interstates 93 and 495. Methuen?s history dates back to the Industrial Revolution, when in the mid to late nineteenth century mills along the Spicket River and Spicket Falls produced hats, shoes, and textiles. Remnants of this time can be seen in the remaining mill buildings, as well as the granite walls and turrets of central Methuen. Methuen is bordered by Dracut on the west; Haverhill on the east; Andover, Lawrence, and North Andover on the south; and Salem, New Hampshire on the north. Methuen is most influenced by trends impacting the Boston Metropolitan area. The Boston metropolitan area consists of over 100 cities and towns reaching beyond Route 128 to I-495 in an approximate 30 mile radius.