A senior apartment complex on the Massachusetts Cape sold for $11 million, brokered by Hunneman Commercial, a provider of commercial real estate services to corporations.

Le Nguyen, who was represented by Hunneman, snapped up the 111-unit apartment complex in Hyannis, Mass., currently used for senior housing. Peter Rand of United Properties in Bloomington, Minn., represented the seller, Sanders Ackerberg.

Located at 290 West Main St., Hyannis House is a three-story apartment complex with one-, two- and three-bedroom units and two studios. It offers an accessible location in Hyannis close to recreation, medical facilities and retail shopping. 

Apartment amenities include dishwashers, large walk-in closets, balcony or patio with electric outlet and lighting, separate dining areas and kitchens with pantries and oak cabinetry. Common-area amenities include laundry facilities, controlled entrance with intercom system, party room, and an exercise room with sauna and showers.

“From an investment standpoint, this property can either be kept for a rental income or converted into condos. Its tenant demographic provides for a very stable rent roll and the new owner has an excellent opportunity to increase value by raising rents to the current market level,” said Carl Christie, executive vice president and principal of Hunneman.

***

What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Black Friday starts now! We've got great deals on Inman Connect New York in-person and virtual tickets. Register now×
Cyber Week Sale: Get 1 year of Inman Select for $75.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription