BOSTON– Marcus & Millichap announced the sale of 448 Mount Hope St., a nine-unit multifamily property in North Attleboro, Massachusetts, for $2.4 million.
Evan Griffith and Tony Pepdjonovic, senior vice presidents in Marcus & Millichap’s Boston office, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
“We were very proud of the result of the sale, as we hit a North Attleboro pricing record of $266,000 per unit. We received five offers and ultimately drove the price $100,000 over asking,” said Tony Pepdjonovic. “This turnkey property, recently renovated with modern finishes and in-unit laundry, offered the buyer a stable income stream with no deferred maintenance,” added Evan Griffith.
448 Mount Hope St., built in 1988, comprises six two-bedroom, 1.5-bath townhouse apartments and three one-bedroom, one-bath flats. The property is 3.4 miles from the Attleboro MBTA Station, a short drive to Patriot Place, and within walking distance of Falls Pond. The building underwent significant renovation in the last five years and features ample parking for residents. The capitalization rate at the time of sale was 6.42%.
