May 30, 2024 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a sixteen (16) unit multi-family Property in North Attleboro, Massachusetts. The duo exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $3,575,000.
The Property is located at 131 Chestnut Street in North Attleboro, Massachusetts. 131 Chestnut Street consists of two adjacent two-story buildings with sixteen (16), 2-Bedroom/1-Bathroom units with 13,664 square feet of living area in 14,720 square feet of gross area, on a 0.80-acre parcel. One of the buildings (Building A) was completely rebuilt from the ground up and is fully sprinklered. Fifteen of the sixteen units have been renovated with new kitchens featuring quartz or granite countertops and stainless-steel appliances. The units also have new floors (hardwood, vinyl plank, and carpet), new bathrooms and in-wall AC units. Additionally, the Property features a laundry facility in each building, on-site storage lockers for tenants, and ample on-site parking with approximately forty (40) parking spaces. Located in the North Attleboro Central neighborhood, 131 Chestnut Street offers convenient access to US Route 1, the area’s primary commercial corridor and the Attleboro MBTA Station (Providence/Stoughton Line). Adding to the Property’s appeal is the proximity to area schools, highways, entertainment venues, retailers, and restaurants. The Property’s central location offers convenient access to Interstates 95, 295 and 495 which provide access to the major employment centers in Providence, Worcester, and Boston. The Property is close to parks and recreation areas. 131 Chestnut Street is a well-located stabilized asset that offers significant rental upside and that is poised for future growth.
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.