May 19, 2022 – Andrew O’Connell and Anthony Spangler of Horvath & Tremblay have successfully completed the sale of twelve (12) multi-family units in Gary, Indiana. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $650,000.
The multi-family investment property is located at 3550-3560 Washington Street in Gary, Indiana. The four-story building contains twelve (12) total units, consisting of four (4) 3-Bedroom/1-Bathroom units, five (5) 2-Bedroom/1-Bathroom units and three (3) 1-Bedroom/1-Bathroom units, in 10,000 square feet of living space and 12,000 square feet of gross area, on a 0.55-acre parcel. The building features low-maintenance brick construction and off-street parking, including a 2-car detached garage. The Property features a number of recent capital improvements, including two new 50-gallon water tanks, the majority of windows have been replaced, most units have hardwood floors, and there is a security camera system. Several units also have a washer and dryer. 3550-3560 Washington Street is well-located located just off of IN-53 and near a number of Interstate highways, which provide easy access to Chicago and all of northwest Indiana. The area offers access to number of retail, dining and entertainment amenities as well as bus stops on the Gary Public Transportation Corporation system. The Property is just 500 feet from Indiana University Northwest and 0.2 miles from the Lake County campus of Ivy Tech Community College.
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.