July 21, 2021 – Andrew O’Connell and Anthony Spangler of Horvath & Tremblay have successfully completed the sale of twelve (12) multi-family units in Hobart, Indiana. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $950,000.
The multi-family investment portfolio is located at 124 & 130 N Hobart Road and 125 Lawrence Street in Hobart, Indiana. This is a three-building multi-family portfolio consisting of twelve (12) apartments. Each building is comprised of three (3), 2-Bedroom/1-Bathroom units, and one (1) 1-Bedroom/1-Bathroom unit. The entire property has a total of nine (9), 2-Bedroom/1-Bathroom units, and three (3) 1-Bedroom/1-Bathroom units. The Liberty Apartments were constructed in 1965 and contain 12,000 square feet of living area in 13,000 square feet of gross area on a 0.8-acre parcel, with on-site parking for twenty-four (24) vehicles, including a two-car garage. The buildings have poured concrete foundations with brick siding and pitched shingle roofs. Each unit is separately metered for electricity, which the tenants pay directly. The Landlord is responsible for heat, hot water, and water and sewer. The portfolio is located in a quiet residential neighborhood comprised mainly of single and multi-family homes. The portfolio is less than 500 feet from the recently constructed Liberty Elementary School. The Property enjoys close proximity to local areas shopping amenities, positioned +/-1-mile from US Route 6 (E 37th Avenue) with numerous restaurants and retailers like Strack & Van Til (Grocery Store), CVS, Dollar Tree, Family Dollar, McDonald’s, KFC, Burger King, Jimmy John’s, and Dunkin’.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.