December 5, 2024 – Michael Bradley and Brian Ahrens of Horvath & Tremblay have arranged the sale of a twelve (12) unit multi-family property in Holyoke, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,150,000.
The multi-family Property is located at 11-13 School Street in Holyoke, Massachusetts. The four-story, multi-family brick building contains twelve (12), 2-Bedroom/1-Bathroom units with 8,208 square feet of gross living area in 11,988 square feet of gross area, on a 0.298-acre parcel of land. The Property has twelve on-site surface parking spaces, and also features an on-site garage with six (6) individual bays that generates additional income for the Property. The current rents are significantly below market rates and offer the opportunity to increase rents to market rates via programmatic updates to the unrenovated units. 11-13 School Street is located on the perimeter of downtown Holyoke, offering convenient access to an array of “downtown” amenities, including shopping (Stop & Shop, Walgreens, Dollar Tree, Dunkin’ and two liquor stores), dining, entertainment, and services. Highlights include the historic Holyoke Merry-Go-Round, the Children’s Museum at Holyoke, and several outdoor parks. The Property is 3.7-miles from the Holyoke Mall, the third largest shopping mall in New England with over 1.6 million square feet of retail space featuring an extensive lineup of national retailers, restaurants, and amenities. Additional attractions including the MGM Casino and the MassMutual Center, as well as a number of employment opportunities and proximity to area colleges and universities. The Property benefits from excellent highway access and is 0.1-miles from US Route 202, less than 1-mile from Interstate 91 and US Route 5, and 1.5-miles from Interstate 391. 11-13 School Street is just 0.6 miles from the Holyoke Transportation Center, and 1-mile from the Holyoke Train Station.
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.