November 18, 2022 –Anthony Spangler and Andrew O’Connell of Horvath & Tremblay have successfully completed the sale of the Columbia Avenue Townhomes (29 residential units) in Hammond, Indiana. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $3,090,000.
The Columbia Avenue Townhomes consist of eight (8) total buildings, including seven (7) brick four-family buildings and one (1) single-family home located at 7126A7, 7212, 7216, 7220, 7224, 7230, 7234, and 7236 Columbia Avenue in Hammond, Indiana. The Properties are comprised of twenty-nine (29) 2-Bedroom/1-Bathroom units in 36,250 square feet of gross living area with 20 total parking spaces. The Properties have been subject to recent capital improvements, including new roofs in half of the buildings, a number of sidewalks and stoops have been recently replaced, and newer kitchen cabinets and refinished floors in many of the units. All of the units include a washer and dryer, and each unit is separately metered for electricity, heat, and hot water, which the tenants pay directly. The Columbia Avenue Townhomes are well-located in south Hammond, in close proximity to local area amenities with numerous restaurants, bars, and shopping along Calumet Avenue (US Route 41), as well as to a retail area beginning at the intersection of Columbia Avenue and East 165th Street. The Property is just over a 1 mile from Interstate 94, and service on the South Shore Line to Chicago and South Bend is available at the East Chicago Station roughly 3 miles from the Properties.
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.