August 3, 2021 – Spencer Smith, John Pentore and Dennis Kelleher of Horvath & Tremblay have successfully completed the sale of a 29-unit Multi-Family Portfolio in Fall River, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,450,000.
The five property multi-family portfolio is centered around downtown Fall River. In total, the portfolio consists of five (5) buildings with twenty-nine (29) units made up of eight (8), three-Bedroom units, thirteen (13), 2-Bedroom units, and eight (8), 1-Bedroom units. The portfolio contains 23,285 square feet of living area within 31,619 total gross square feet and has a total of 1.14-acres of land with on-site parking for thirty (30) vehicles. The Fall River Portfolio represents the rare opportunity to acquire a critical mass of co-located, value-add, multi-family properties in a supply-constrained rental market. The portfolio is well-located in the heart of Downtown Fall River. The properties enjoy close proximity to the Charlton Memorial Hospital, and the future Fall River Train Station (MBTA – Stoughton Line) which is scheduled to open in 2023. The buildings are a short walk from the banks of the Taunton River and Mt. Hope Bay. The portfolio offers convenient access to Interstate 195, US Route 6, and MA Route 24 which links Fall River to Newport and Boston. Fall River is also home to two branches of UMASS Dartmouth and the Bristol Community College. The locations offer convenient access to the area’s major roadways, public transportation, and numerous retail amenities.
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.