December 28, 2022 – Anthony Spangler and Andrew O’Connell of Horvath & Tremblay have successfully completed the sale of Mulberry Manor in Portage, Indiana. The multi-family property consists of twenty-two (22) units. The duo exclusively represented the seller to complete the transaction at a sale price of $2,255,000.
Mulberry Manor is located at 5260, 5264-5266 and 5268-5270 Mulberry Avenue in Portage, Indiana. The property is improved by three two-story multi-family buildings containing twenty-two (22) residential units comprised of sixteen (16) 2-Bedroom/1-Bathroom units and six (6) 2-Bedroom/1.5-Bathroom townhouse residential units with 20,000 square feet of living space in 22,000 total gross square feet. The well-maintained buildings are situated on a large 1.0-acre parcel with thirty (30) on-site parking spaces, an on-site laundry facility, and ample green space for the tenants. Additionally, sixteen of the units have central air-conditioning and private patios or porches. Each unit is separately metered for electricity and gas fired heat and hot water, which the tenants pay directly. The landlord is responsible for domestic water and sewer. Mulberry Manor is well located along a quiet tree-lined street in a residential neighborhood. The Property is 0.3-miles from Central Avenue, the area’s primary commercial corridor and is a short drive from area shopping and the shores of Lake Michigan. The Property also provides convenient access to Interstates 80, 90, 65 and 94, and US Routes 12, 20 and 6 offering convenient access to Chicago and points east and west.
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.