March 14, 2025 – Spencer Smith of Horvath & Tremblay has successfully completed the sale of the Hanover, Roy & South Main Portfolio, a twenty-seven (27) 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 $4,380,000.
The Hanover, Roy & South Main Portfolio is comprised of five (5) multi-family buildings located at 33 Hanover Street, 956-964-966 South Main, & 34-40 Roy Street in the heart of Fall River. The Portfolio contains twenty-seven (27) units consisting of twenty-three (23), 2-Bedroom/1-Bathroom units, three (3), 1-Bedroom/1-Bathroom units and one (1) commercial unit. The Portfolio comprises 22,074 square feet of living area in 32,973 square feet of total gross area on a combined 0.87 acres of land. In-place rents are below the current market rent for comparable units in the area, offering the potential to raise rents and increase current revenue through programmatic upgrades of the unrenovated unit interiors. The Hanover, Roy & South Main Portfolio is well-located in highly desired, densely populated residential neighborhoods. The Portfolio is positioned in the heart of Fall River along the Interstate 195 corridor and enjoys close proximity to St Anne’s Hospital and Charlton Memorial Hospital, and to the future Fall River Train Station (MBTA – Stoughton Line) which is scheduled to open in 2025. 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.
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.