Ashton Place Apartments in Methuen traded hands for $7.1 million. Ashton Place Apartments in Methuen traded hands for $7.1 million in a deal brokered by Marcus & Millichap, with Griffith and Pepdjonovic representing the seller and securing the buyer.

“The Merrimack Valley multifamily market continues to have strong demand from investors throughout the region,” said Evan Griffith, senior managing director of investments at Marcus and Millichap. “High occupancy and limited new supply in the workforce housing segment make these assets highly desirable.”

Located at 11 Ashton Place, the three-unit multifamily property offers studio, one- and two-bedroom apartments. Recent renovations added open-concept layouts, updated bathrooms and new flooring.

“This property was gut renovated several years ago after a fire and rebuilt with modern layouts and finishes,” said Tony Pepdjonovic, senior managing director at Marcus & Millichap’s Boston office. “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.”