April 8, 2025 – Dennis Kelleher, John Pentore and Jason Kulik of Horvath & Tremblay have successfully completed the sale of Summer Street Lofts, a 10-unit Multi-Family property in Bridgeport, Massachusetts. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,352,000. This represents a price of $235,200 per unit.
The multi-family property is located at 40 Summer Street in Bridgewater, Massachusetts. The four-story building contains ten (10) residential units comprised of one (1), 2-Bedroom/2-Bathroom unit, two (2), 1-Bedroom/1.5-Bathroom units, and seven (7), 1-Bedroom/1-Bathroom units with 8,167 square feet of living area in 8,539 total gross square feet. The Property is situated on a 0.98-acre parcel of land with twenty-two (22) on-site parking spaces available for tenants and guests. The Lofts @ Summer Street is a turn-key Property with condo quality finishes throughout. A transformative gut renovation of the property was completed in 2019. The entire envelope of the building has been replaced, including a newer asphalt shingle roof, vinyl siding, windows, insulation, and mechanicals. The units feature newer luxury vinyl plank flooring, kitchens with updated cabinetry and countertops, stainless steel appliances, in-unit laundry, and updated bathrooms with modern amenities. All units feature PTAC heating and air conditioning systems. The building is separately metered for heat and electricity which the tenants pay directly. The Landlord is responsible for common area heat and electric, hot water, and domestic water and sewer. The Lofts @ Summer Street is well-located at the intersection of Summer Street and Plymouth Street in the center of Bridgewater. The Property enjoys a quiet, secluded interior lot, which is across the street from Bridgewater State University, and is seconds from the area’s primary commercial corridor, national retailers, area schools. There is a limited supply of multi-family property in Bridgewater and Plymouth County, with high demand for rental units.
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.