October 28, 2022 – Spencer Smith of Horvath & Tremblay has successfully completed the sale of a 8-unit Mixed-Use Property in Fall River, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $750,000.
The mixed-use property is located at 159 Nashua Street in Fall River, Massachusetts. The four-story building contains one (1) commercial unit at street-level and seven (7) residential units, consisting of four (4) 3-Bedroom/1-Bathroom units and two (2) 1-Bedroom/1-Bathroom units, and one (1) Studio unit in 7,584 square feet of living area on a 0. 71-acre parcel. Tenants are responsible for their own electric and gas heat & hot water. The Landlord is responsible for domestic water & sewer and the utilities for units 3E and 3ES. The building has been well maintained throughout ownership and features numerous upgrades including a newer roof and windows as well as upgrades to the units’ interiors in both the residential apartments and retail space. 159 Nashua Street is well-located in Downtown Fall River. The Property is a short walk from the banks of the Taunton River and Mount Hope Bay, and is close to the Charlton Memorial Hospital and the future Fall River Train Station (MBTA – Stoughton Line) which is scheduled to open in 2023. Fall River is also home to two branches of UMASS Dartmouth and the Bristol Community College. The location offers convenient access to the area’s major roadways, public transportation, and numerous retail amenities. The location offers convenient access to Interstate 195, US Route 6, and MA Route 24 which links Fall River to Newport and Boston
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.