August 1, 2024 – Anthony Spangler of Horvath & Tremblay has successfully completed the sale of a thirteen unit multi-family property in Whiting, Indiana. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $1,365,000.
The property is located at 1901 Warwick Street in Whiting, Indiana. The Multi-Family Property is comprised of two (2), two-story buildings with thirteen (13), 2-Bedroom/1-Bathroom townhouse units with full basements and in-unit washers and dryers. The Property contains 18,720 square feet of total gross area on a 0.57-acre corner parcel of land. The brick buildings also feature on-site parking and each unit is separately metered for electricity and gas heat and hot water which the tenants pay directly. The in-place rents are well below market offering the opportunity to significantly increase the revenue of the Property by raising rents to market rates. 1901 Warwick Avenue is located in close proximity to the commercial and commuter corridors of Calumet Ave and Indianapolis Boulevard as well as the Indiana Toll Road (I-90), providing quick access for workers and travelers to downtown Chicago. The Property is also located 1.2-miles from Hammond-Whiting Station, served by the South Shore Commuter Train and Amtrak’s high speed “Wolverine” route from Chicago to Detroit. The Property benefits from its location in the northern portion of Whiting, and is close to national retailers (Walmart Supercenter, Strack & Van Til, Dollar Tree, and Ross), national restaurants (Starbucks, Dunkin’, IHOP, Taco Bell, and Popeye’s), the Hammond Horseshoe Casino, several beaches along the shores of Lake Michigan, and Wolf Lake.
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.