August 18, 2022 – Spencer Smith, Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of the Fourth Street Portfolio, a forty-five (45) 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 $1,800,000.
The Fourth Street Portfolio is comprised of four multi-family investment properties located at 254 Fourth Street, 270 Fourth Street, 276 Fourth Street and 195-197 Rodman Street in Fall River, Massachusetts. The Portfolio is centered around downtown Fall River and consists of four (4) buildings with a total of forty-five (45) units made up of nine (9), 1-Bedroom/1-Bathroom units, one (1), 2-Bedroom/1-Bathroom unit, one (1), 5-Bedroom/1-Bathroom unit, one (1) commercial office, and thirty-three (33), Single-Room units. The single room units have access to six and one-half shared bathrooms and five shared kitchens. The Portfolio contains 15,889 square feet of living area in 22,126 square feet of total gross area situated on a total of 0.38-acres of land with on-site parking for eighteen (18) vehicles. The Fall River Portfolio provided a rare opportunity to acquire a critical mass of co-located, value-add, multi-family properties in a supply-constrained rental market. TThe Properties enjoy close proximity 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 locations offer 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.