July 12, 2024 – Michael Bradley of Horvath & Tremblay has arranged the sale of an eight (8) 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 $710,000.
The multi-family Property is located at 107 Kensington Avenue in Springfield, Massachusetts. The Property consists of a of four-story multi-family Property and contains a total of eight (8) 2-Bedroom/1-Bathroom residential units with 7,443 square feet of living area in 9,280 square feet of gross area on a 0.15-acre parcel with on-site parking at the rear of the Property. Property is located along a tree lined residential street in Springfield’s Forest Hills neighborhood and is surrounded by single and multi-family residential properties. The Property is close to commercial developments including CVS and Walgreens 0.6-miles away, and two grocery anchored shopping centers (Stop & Shop and Big-Y) both 2-miles away. Additionally, the Property is 1.9-miles from Downtown Springfield which offers an array of shopping, dining, entertainment and employment opportunities. 107 Kensington Avenue benefits from exceptional highway access and is within 1.5-miles of Interstate 91, which connects just to the north with Interstates 291, and 391 and Interstate 90, which travels west to Worcester and Boston and east to Albany New York. The Property is less than 500 feet from the municipal bus line and is 2.3-miles from Springfield’s Union Station. 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.