9 & 11 UNION STREETTAUNTON | MA

MULTI-FAMILYINVESTMENT

OPPORTUNITY&HORVATH TREMBLAY

EXCLUSIVELY LISTED OFFERING • 12 UNITS • 6,868 ± SF

MULTI-FAMILY TEAM

HORVATH TREMBLAY

HTAPARTMENTS.COM

Horvath & Tremblay has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than Horvath & Tremblay and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.

DISCLAIMER

DENNIS KELLEHER Senior Vice PresidentDirect: (781) 776-4002dkelleher@htapartments.com

JASON BRAUNSenior Vice PresidentDirect: (781) 776-4521jbraun@htapartments.com

JOHN PENTOREVice PresidentDirect: (781) 776-4004jpentore@htapartments.com

ADAM MANCINONESenior Vice President Direct: (203) 486-9037amancinone@horvathtremblay.com

BLAKE BARBARISISenior Vice President Direct: (203) 486-9038bbarbarisi@horvathtremblay.com

THOMAS CONNORSenior AssociateDirect: (203) 486-9039tconnor@htapartments.com

STEPHEN GIROLAMO Associate Direct: (781) 776-4014sgirolamo@htapartments.com

JASON KULIKAssociateDirect: (781) 776-4016jkulik@htapartments.com

CONNOR BRIMLEYAssociateDirect: (781) 776-4018 cbrimley@htapartments.com

C. ROSS WOODAssociateDirect: (781)-776-4522crwood@htapartments.com

JOSEPH VALBONAAssociateDirect: (781)-776-4523jvalbona@htapartments.com

MICHAEL ALVAREZ AssociateDirect: (781) 776-4007malvarez@htapartments.com

KEVIN DARLINGSenior Financial AnalystDirect: (781) 776-4015kdarling@horvathtremblay.com

LEIGH BARCAMONTEMarketing Director Direct: (781) 776-4008 lbarcamonte@horvathtremblay.com

JOSHUA VELEZFinancial AnalystDirect: (781) 776-4009 jvelez@horvathtremblay.com

MATTHEW BROCKMANData AnalystDirect: (860) 463-1000mbrockman@horvathtremblay.com

MIKE MCCARTHYManaging DirectorDirect: (781) 776-4520mmccarthy@horvathtremblay.com

SPENCER NORTONAssociateDirect: (781) 776-4524snorton@htapartments.com

LIST PRICE: $1,100,000

NET OPERATING INCOME: $80,261

CAP RATE: 7.30%

PRICE PER UNIT: $91,667

PRICE PSF-GLA: $160

12 RESIDENTIAL UNITS

9 & 11UNION STREET

BUILDING UTILITIES

HEATING Forced HW Baseboard (Gas) Tenant Responsible

HOT WATER Gas Tenant Responsible

ELECTRIC Separately Metered Tenant Responsible

WATER City of Taunton Landlord Responsible

SEWER City of Taunton Landlord Responsible

PROPERTY DETAILS

PROPERTY ADDRESS 9 & 11 Union Street, Taunton, MA 02780

NUMBER OF UNITS 12

YEAR BUILT 1900

LAND AREA 0.13 ± Acres

GROSS LIVING AREA 6,868 ± SF

TOTAL GROSS AREA 10,672 ± SF

PARKING 3 Off-Street Parking Spaces

BUILDING CONSTRUCTION

EXTERIOR Aluminum Siding

ROOF Asphalt Shingle1 BEDROOM

2 BEDROOM

3

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OFFERING SUMMARY

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Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the adjacent multi-family investment properties located at 9 & 11 Union Street in Taunton, Massachusetts (the “Property” or “Properties”). Located adjacent to Taunton Center. The two Properties contains 12 total apartments in a combined 6,868 square feet of living area. 9 Union Street contains 6 apartments in 2,995 square feet of living area on a 0.05-acre lot. 11 Union Street contains 6 apartments in 3,873 square feet of livable area on a 0.08-acre lot.

THE PROPERTY ■ 9 & 11 Union Street are adjacent 2.5-story, multi-family, properties in Taunton, Massachusetts.

Both Properties are 2.5 stories and feature aluminum siding, new roofs, new fire escapes, separately metered utilities and coin-operated laundry in the basement. 3 off-street parking spaces are available for a monthly fee adjacent to 11 Union Street. Both buildings have been approved for Section 8 housing.

LOCATION ■ The Properties are located on a residential side-street just one block from Main Street

(Route 44) and the amenities, public transportation options and employment base in Taunton Center.

TRANSPORTATION ACCESS• HIGHWAY:

• Route 24 is located 2.4 miles east of the Property and serves as the primary commuter highway to Boston, located 30 miles to the north.

• Interstate 495 is located 4 miles north of the Property and provides regional access from Cape Cod to points north and west.

• Route 44 (Main Street), located one block from the Property provides convenient access to Providence, Rhode Island, located 20 miles to the southwest.

• PUBLIC TRANSPORTATION:

• Multiple GATRA Bus Routes are located just a block from the Property providing service to local shopping destinations (Stop & Shop, Shaw’s, Walmart, Silver City Galleria) and area towns including Raynham, Attleboro, Middleboro and Norton.

POTENTIAL UPSIDE ■ The Properties have been well-maintained and have new roofs and fire escapes. The

opportunity exists to upgrade the unit interiors to increase rental rates.

GATRA Bus Stop: 0.1 miles

Taunton Center/Taunton Green: 0.2 miles

Route 24: 2.4 miles

Route 495: 4.0 miles

Silver City Galleria: 4.2 miles

Providence, RI: 18 miles

Boston, MA: 30 miles

INVESTMENT HIGHLIGHTS

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INCOME & EXPENSES

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CURRENT PER UNIT

INCOME

Gross Potential Rent $131,244 $10,937

Laundry Income $1,200 $100

Parking $1,200 $100

Gross Potential Income $133,644 $11,137

Vacancy Loss (2%) ($6,682) ($557)

Effective Gross Income $126,962 $10,580

EXPENSES

Real Estate Taxes $7,786 $649

Insurance $6,210 $518

Water/Sewer $7,881 $657

Common Area Electric $1,979 $165

Common Area Gas (Hot Water) $1,393 $116

Trash Removal $6,104 $509

Management (5%) $6,348 $529

Repairs & Maintenance $6,000 $500

Reserves & Replacements $3,000 $250

Total Expenses $46,701 $3,892

Net Operating Income $80,261 $6,688

RENT ROLL

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UNIT NUMBER # OF BEDROOMS # OF BATHROOMS CURRENT RENT NOTES

1R 2 Bd 1 BA $1,300

2R 2 Bd 1 BA $1,300

3R 1 Bd 1 BA $1,187

1L 1 Bd 1 BA $950

2L 1 Bd 1 BA $950

3L 1 Bd 1 BA $950

1F 1 Bd 1 BA $950

2F 1 Bd 1 BA $650

3F 1 Bd 1 BA $900 VACANT

1R 1 Bd 1 BA $600

2R 1 Bd 1 BA $600

3R 2 Bd 1 BA $600

TOTAL 15 Bedrooms 12 Bathrooms $10,937

PROPERTY PHOTOGRAPHS

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CHURCH GREEN

CHURCH GREEN

SITE PLAN

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UNION STREET

9 & 11 UNION STREET

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AERIAL PHOTOGRAPH

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MORTON HOSPITAL

DEAN ST

WINTHROP STMAIN ST

9 & 11 UNION STREET

AREA LOCATION MAP

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1 MILE 2 MILES 3 MILES

POPULATION

2023 Projection 13,389 34,332 46,438

2018 Estimate 13,364 34,082 45,913

2010 Census 13,949 34,613 45,637

HOUSEHOLDS

2023 Projection 5,801 14,423 18,998

2018 Estimate 5,782 14,304 18,771

2010 Census 6,012 14,490 18,637

INCOME

Average Household Income $51,960 $64,138 $72,076

Median Household Income $41,724 $48,820 $54,883

45,500+PEOPLE WITHIN 3 MILES

$72,000+AVERAGE HOUSEHOLD INCOME

TAUNTON | MA

PEOPLE WITHIN 3 MILES

Taunton is a city in and the county seat of Bristol County in the southeast corner of Massachusetts. The city is located approximately 30 miles south of Boston, 18 miles east of Providence, 10 miles north of Fall River and 20 miles north of New Bedford. Taunton is one of the oldest towns in the United States. Taunton is also known as the Silver City, as it was a historic center of the silver industry in the 19th and 20th centuries. Taunton is bordered by the surrounding towns of Norton, Easton, Mansfield, Dighton, Raynham, Berkley, and Lakeville.

Taunton’s economy has a large presence of semiconductor, silicon, and electronics manufacturing companies and has recently been attempting to attract biotechnology research companies to its many industrial parks. The city is home to satellite campuses of Bay State College, Bristol Community College and Wentworth Institute of Technology. Taunton is also home to the Morton Hospital and Medical Center, located on Washington Street, just north of the Property and city center.

There are plans being worked on to link parts of the existing rail line in Taunton with the Stoughton line of the MBTA commuter rail system to Boston. The Greater Attleboro Taunton Regional Transit Authority, or GATRA, provides bus transit throughout the region. Since 2012 Taunton has been the target location for a Wampanoag casino complex. Taunton also has its own municipal airport, serving mostly smaller craft and occasional commuter jets. The nearest airport with national airline service is T.F. Green Airport in Rhode Island, and the nearest international service is at Logan International Airport in Boston.

LOCATION OVERVIEW

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