October 30, 2020 – Ryan Benton of Horvath & Tremblay has arranged the sale of a 4-unit multi-family building in Marlborough, Massachusetts. Benton exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $470,000.
The multi-family property is located at 76 Rice Street in Marlborough, Massachusetts. The Property is improved by a three-story, multi-family building, containing four (4) rental units on a 0.16-acre lot. The unit matrix includes four (4) units consisting of two (2), 2-Bedroom/1-Bathroom unit and two (2), 1-Bedroom/1-Bathroom units in 2,868 square feet of gross living area in 4,285 square feet of gross area. The units are separately metered for electricity and gas heat and hot water. 76 Rice Street is well-located on a residential street in downtown Marlborough just 0.4 miles from Main Street. The location offers convenient access to nearby shopping, restaurants, outdoor space, healthcare, and public schools as well as easy access to the Mass Pike and US Route 20. Downtown Marlborough features an appealing mix of national retailers and local shops and restaurants. The area offers a blend of necessity retail, services tenants, and an array of dining and entertainment options; popular national chains including Walgreens, Dollar Tree, Dairy Queen, Domino’s and O’Reilly Auto Parts. Additionally, the Post Road Plaza anchored by Price Chopper, Marshall’s, Savers and CVS is less than a mile from the Property.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.