November 30, 2021 –Andrew O’Connell and Anthony Spangler of Horvath & Tremblay have successfully completed the sale of twenty-four (24) multi-family units in Lowell, Indiana. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,000,000.
The multi-family investment property, known as the Royal Oaks Apartments, is located at 847 South Lake Park Avenue in Hobart, Indiana. The property is a three-story, brick building built in 1972 and consisting of sixteen (16), 2-Bedroom/1-Bathroom units of +/-900 square feet each, and eight (8), 1-Bedroom/1-Bathroom units of +/-750 square feet each. In total, the building contains 20,400 square feet of livable area (23,328 gross square feet) on a 1.07-acre parcel. The buildings have poured concrete foundations with brick siding and pitched shingle roofs. The building features patios or balconies for 20 of the 24 units, in-building washers and dryers, ample on-site parking, professionally landscaped grounds, and ample green space. The Property is located in a quiet residential neighborhood comprised mainly of single and multi-family homes. The property is less than ¼-mile from both the Hobart Middle School, Joan Martin Elementary School, and the Fred Rose 8th Street Park. Additionally, downtown Hobart is 1-mile away. The Property enjoys close proximity to local areas shopping amenities, positioned +/-2.5-miles 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.