In North Attleboro, MA, Marcus & Millichap successfully completed the sale of 448 Mount Hope St., a multifamily property consisting of nine units. The property was sold for $2.4 million at a cap rate of 6.42%. SVPs Evan Griffith and Tony Pepdjonovic from Marcus & Millichap’s Boston office represented the seller and secured the buyer.
Pepdjonovic expressed satisfaction with the record-breaking sale, stating that each unit sold for an impressive $266,000 in North Attleboro. He also mentioned that they received five offers and were able to drive up the price by $100,000 over asking.
According to Griffith, this fully renovated property features modern amenities such as in-unit laundry and provides stable income without any deferred maintenance concerns for its new owner.
Built in 1988, 448 Mount Hope St. includes six two-bedroom townhouse apartments with one-and-a-half baths each and three one-bedroom flats with one bath each. It is conveniently located near popular destinations like Attleboro MBTA Station,Patriot Place,and Falls Pond,and has undergone significant renovations within the last five years.
This successful transaction demonstrates strong demand for multifamily properties in North Attleboro’s market.
