Unveiling a Rare Gem: Multi-Family Portfolio
Evokes the Past and Fuels the Future
January 24, 2025 at 7:11 AM | UW Realty Company – Team
In the realm of real estate, a truly unique opportunity has emerged—an exceptional multi-family portfolio nestled in an Opportunity Zone, weaving together the historical charm of Fall River, MA, and the vibrant dynamism of Boston, MA. Senior Managing Director of Multi-Family Sales, Unee Washington, is at the forefront, presenting a deal that transcends the traditional boundaries of property transactions.
Ms. Washington’s personal connection to Fall River adds an intriguing layer to this real estate narrative. Childhood memories, anchored in Battleship Cove, city hall civic events, and the delightful flavors of Portuguese fresh rolls, make this portfolio not just a transaction but a journey back to the heart. A journey that echoes the sentiments of countless Bostonians who have found solace and connection in the rich tapestry of Fall River’s cultural vibrancy.
The Future of Multifamily Real Estate: A Bright Horizon in 2025 and Beyond
The outlook for 2025 brings a welcome reprieve for the multifamily real estate market. Industry analysts predict that interest rates, inventory, and policy dynamics will normalize after the first quarter, fostering a more stable and predictable environment. While inflationary pressures, particularly in construction costs and tariffs, continue to pose challenges, savvy investors and developers are leveraging innovative solutions to mitigate these impacts.
A Vision for the Future
Fall River’s transformation extends beyond economic growth. Senior Managing Director Unee Washington envisions a future where Fall River rivals major innovation hubs like Raleigh-Durham, North Carolina. “Once a key player in America’s textile industry during the 19th and early 20th centuries, Fall River—nicknamed ‘Spindle City’—is now the next ‘Phoenix Rising,’” as noted by Harvard Magazine.
Fall River, MA: A Rising Star in Multifamily Investment
One city that exemplifies the potential of multifamily investment is Fall River, Massachusetts. With its rich architectural heritage and strategic proximity to Boston, Fall River is rapidly becoming a hub for commerce, industry, and real estate growth. The forthcoming MBTA South Coast Rail project, connecting Fall River to Boston, is expected to significantly elevate the city’s accessibility and economic appeal.
The Market at a Glance
- Historic Charm Meets Modern Growth: A city of nearly 95,000 residents, Fall River is leveraging its pre-World War II architecture and proximity to Boston to attract investors and developers.
- Economic Catalysts: The completion of the MBTA South Coast Rail will connect Fall River to Boston, fueling job growth projected to outpace the national average by 34% over the next decade.
- Investment Opportunities: Multifamily properties in Fall River have seen significant appreciation, with rental income rising 78% from 2022 to 2024.
Unveiling a Rare Gem: A Multifamily Portfolio for the Future
In partnership with UW Realty Company, Tetrault Real Estate proudly presents an exceptional investment opportunity: a 457-unit multifamily portfolio spanning 68 buildings, priced at $91.4 million. Located in an Opportunity Zone, this portfolio offers a unique blend of historic significance and modern growth potential.
Portfolio Highlights:
- 84% Renovated: With an annual $2.2 million rehab strategy, the portfolio is primed for immediate returns.
- Record Sales: A three-family home at 325 Snell Street sold for $830,000 on January 17, 2025, while 514 Bradford Avenue fetched $825,000 in July 2024. These notable transactions emphasize the rising demand and growing appeal of the market, marking significant milestones in the area’s real estate landscape.
- Cap Rate: 7.62%
Maximizing Value: Upside Potential
- Rent Growth: A value-add opportunity with a projected +/-16% upside in rents.
- Sustainability: Implementing solar energy solutions and optimizing RUBS billing can significantly boost ROI.
- Tenant Stability: A balanced and reliable tenant mix ensures consistent performance.
Economic Catalysts Driving Demand
- Amazon’s Footprint: A 1.7-million-square-foot fulfillment center underscores Fall River’s economic vitality.
- Connectivity: The MBTA South Coast Rail links Fall River to Boston, positioning the city as an accessible hub for businesses and commuters.
- Industry Innovation: Proximity to Boston’s academic powerhouses—MIT, Harvard, and others—enhances its appeal to biotech and life sciences industries.
- Waterfront Development: Davol Street Corridor and Waterfront revitalization.
The adaptive reuse of Fall River’s historic factory and warehouse buildings, converting underutilized properties such as office spaces into multifamily rental and condo units, offers an affordable housing oasis as the waterfront develops.
STRONG VALUE-ADD PLAY
Maximize Your Investment: Discover a value-add opportunity within our portfolio, offering an additional +/-16% upside in rents. By implementing solar energy as a common utility and optimizing the RUBS bill-back percentage, there’s tremendous potential for increased rental income and robust property appreciation. Seize the chance to elevate your returns in the heart of Fall River, MA.
Prime Location, Worry-Free Asset: Our portfolio boasts a terrific tenant mix, presenting worry-free assets strategically located in the heart of Fall River. Limited inventory of this quality makes this a rare opportunity to secure a solid, performing property aligned with the city’s growth trajectory.
Be Part of Fall River’s Renaissance
With its blend of historical significance, modern innovation, and economic vitality, Fall River is poised to redefine real estate housing economics in Massachusetts. This portfolio presents an extraordinary chance to participate in Fall River’s transformation. It offers both immediate returns and long-term growth—no capital cost to develop, as the portfolio is 84% renovated and primed for immediate returns.
With its strategic location, economic catalysts, and robust tenant base, this multifamily portfolio offers a unique chance to secure a foothold in one of Massachusetts’ most exciting markets. Our portfolio in Fall River is more affordable than options in Boston and slightly less expensive than New Bedford. Fall River may just emerge as a beacon of hope for Boston’s affordable housing crisis due to its ability to address affordability, capital costs, and its strategic location. With its proximity to Boston’s renowned academic and biotech institutions, Fall River is poised to attract life sciences and tech industry professionals who opt to commute to Boston and Rhode Island and choose affordable residence in Fall River, further reinforcing its trajectory as a vibrant, forward-looking city.
Bridging Generations: A New Era of Multifamily Investors
The multifamily sector is undergoing a generational shift as veteran investors, often referred to as the “old-school generation,” pass the torch to a younger cohort eager to build legacy wealth. As we look ahead, the focus shifts toward educating the next generation of multifamily investors. This new cohort is eager to build lasting wealth, leveraging modern tools and strategies to navigate a changing landscape. Industry veterans are stepping up to mentor this group in partnership with UW Realty Company, LLC, ensuring the longevity and growth of multifamily investing.
In Conclusion
As we look toward the remainder of 2025 and beyond, multifamily real estate stands as a testament to resilience and adaptability. Stabilizing interest rates, growing demand in secondary markets, and innovative investment strategies are paving the way for a brighter future. For seasoned investors, residents, and newcomers alike, the focus remains on creating sustainable, inclusive communities that blend financial success with social responsibility. Contact UW Realty Company, LLC for more information on the multifamily portfolio for sale.
Get a closer look at the properties with tours happening soon, and prepare for the ‘call-for-offers’ to follow.
Recent Headlines:
Unique real estate portfolio sale addresses affordability, capital costs, and strategic location – NEREJ
Sending Strength to Los Angeles: We extend our heartfelt sympathies to the people of Los Angeles during this incredibly challenging time. To the families, friends, and first responders enduring the devastation caused by the wildfires, we send strength, hope, and unwavering support. You are in our thoughts.
Unee M. Washington CEO, UW Realty Company, LLC
For Debt Inquiries: Tim Smits | Director
C: 516-987-4978
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