The sale of a 25-unit multifamily property located at 1 Samoset Ave. in Mansfield, MA has been successfully completed by Marcus & Millichap for $4,750,000. The seller was represented by Evan Griffith and Tony Pepdjonovic of the Griffith-Pepdjonovic team while the buyer was procured by two local limited liability companies.
According to SVP Investments Tony Pepdjonovic, there is still high demand for suburban multifamily properties. This was evident as they received six qualified offers and ultimately closed the sale above asking price at $50,000 higher than expected. The property offers a great combination of stable rental income and potential for value creation through upscale unit renovations.
Originally known as “The Grain Mill,” this historic building served as an active mill during the early 20th century before being converted into apartments in 1981. It features 24 loft-style one-bedroom units and a two-bedroom penthouse with views overlooking downtown Mansfield. Its convenient location near public transportation (Mansfield MBTA station), major highways, shopping centers, restaurants,and entertainment options make it an attractive choice for tenants.
