April 4, 2022 – By Tom Palmer
69 Units in 12 Victorian and Colonial Style Buildings Near Picturesque ‘Narrows’
BOSTON – Boston Realty Advisors, the largest Boston-based independent real estate brokerage, is exclusively representing owners in the sale of Four Square Apartment Homes in Fall River, MA, 69 living units in 12 adjacent or nearby buildings at the intersection of Winter and Cherry streets.
Four Square Apartment Homes is located in the historic Lower Highlands Neighborhood, one of the most desirable areas of Fall River. Significant capital improvements have been completed in Four Square Apartment Homes, including roofs, windows, systems, and exterior and interior painting and renovations.
“This portfolio allows for significant value-add potential,” said Andrew Herald, Associate Director of the Capital Markets Group at Boston Realty Advisors. “Forty-seven of the 69 units have had interior updates, and the remainder are prime for further improvements.”
Four Square Apartment Homes is located in the 10th largest city in Massachusetts, with more than 94,000 residents, a historic location along the eastern shore of Mount Hope Bay at the mouth of the Taunton River.
“Throughout the pandemic, vacancy remained low in the Fall River submarket,” said Herald. “With no significant new supply in the pipeline, the market will continue to command increased rent and rising pricing.”
Four Square Apartment Homes is being offered on an unpriced basis, and tours of the property are being conducted, with a call for offers to follow.
The group of buildings includes three properties on Cherry Street, six on Winter Street, and two on High Street. The attractive mix of studio and one- and two-bedroom apartments in Victorian and Colonial style buildings, built between 1850 and 1920, are a short distance from the Taunton River, leading to Mt. Hope Bay, a picturesque area known as The Narrows.
“Four Square Apartment Homes presents a unique opportunity to purchase for either an owner-occupier or investor,” said Herald. “There is real value here.”
The Four Square Apartment Homes buildings are near public transportation, restaurants, and shopping. It is easily accessible to I-195 and Routes 140, 24 and 6, and a short drive to the SRTA Bus Terminal, making for an ideal location for commuters. In addition, Fall River is close to both New Bedford Regional Airport and T.F. Green Airport in Warwick, RI.
The Fall River Industrial Park is a manufacturing center, home to more than 60 companies and 3,000 employees. A former mill and whaling town, it has attracted companies including Amazon, Atlantic Lighting, and Whirlpool Corporation.
UMass Dartmouth currently enrolls close to 9,000 students.
The apartments feature detailed interior moldings, ornamental fireplaces, oversized windows, walk-in closets and high ceilings. Furnished units are currently offered.
Four Square Apartment Homes features hardwood floors, high ceilings, new windows, and large living rooms and bedrooms. The buildings each have three to eight apartment units and range from about 3,000 to 7,000 square feet.