June 26, 2024 – Michael Bradley of Horvath & Tremblay has arranged the sale of a twelve (12) unit multi-family property in Springfield, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,030,000.
The multi-family Property is located at 331-335 Allen Street in Springfield, Massachusetts. The Property consists of a two-story multi-family building and contains a total of twelve (12) 2-Bedroom/1-Bathroom residential units with 10,532 square feet of living area in 15,720 square feet of gross area on a combined 0.4-acres of land. The property features a central courtyard and ample on-site parking at the rear of the Property. The Property is well-located in the Forest Park neighborhood of Springfield and is approximately 2-miles from the heart of Downtown Springfield with excellent access to all the amenities the city has to offer. The Property is close to commercial developments including a Dollar Tree, and two grocery anchored shopping centers (Stop & Shop and Big-Y) both less than 2-miles away. 331-335 Allen Street benefits from exceptional highway access and is within 1.75-miles of Interstate 91, which connects just to the north with Interstates 291, 391 and Interstate 90. The Property is less than 100 feet from the municipal bus line and is 2.5-miles from Springfield’s Union Station. Springfield is the economic center of western Massachusetts and features a walkable downtown with a plethora of employment and entertainment opportunities. High profile attractions include the new MGM Hotel & Casino, the MassMutual Center, and the Naismith Basketball Hall of Fame. Springfield is also home to the Commonwealth of Massachusetts’ largest Fortune 100 company, MassMutual Financial Group three large area hospitals and several colleges and universities, all of which create employment opportunities and drive people to the area.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. 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.