November 18, 2024 – Sean McHale, Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a three (3) unit multi-family Property in Providence, Rhode Island. Horvath & Tremblay exclusively represented the seller in the transaction. The multi-family Property sold for $1,100,000, which represents $366,667 per unit.
The multi-family Property is located at 29 Brighton Street in Providence, Rhode Island. The Property consists of a three-story multi-family building and contains three (3) large residential units comprised of two (2), 4-Bedroom/2-Bathroom units, and one (1) 4-Bedroom/1.5-Bathroom unit with 4,620 square feet of living area in 6,363 gross square feet on a 0.09-acre parcel of land. The well-maintained property has updated units that feature hardwood floors throughout, stainless steel appliances, gas stoves, dishwashers, in unit washers and dryers, and six (6) off-street parking spaces. Additionally, the building has new plumbing and electrical, 1 Navien tankless hot water heater, and tenant storage in the basement. Centrally located in the Federal Hill neighborhood of Providence, 29 Brighton Street is one block from Broadway and is a short walk from Providence’s Central Business District. The Property offers convenient access to abundant dining, retail, and nightlife options, and several colleges and universities. The Property is also just 1.3-miles from the Providence Train Station (Amtrak, Acela & the MBTA’s Providence/Stoughton Line). Adding to the area’s appeal is the proximity to a robust employment market, local and national retailers and restaurants, and major roadways. 29 Brighton Street offers the opportunity to acquire a well-located, stabilized asset in one of the strongest real estate markets in a region 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.