Horvath & Tremblay sells two multifamily properties for $3.49m

Holyoke, MA Horvath & Tremblay has completed the sale of two multifamily properties for a total of $3.49 million.

Michael Bradley and Ryan Benton of Horvath & Tremblay have arranged the sale of a 16 unit multifamily property. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1.465 million which is $91,563 per unit. The property is located at 101-105 Elm St. The property consists of two, adjacent brick buildings containing 16 total units, comprised of 14, three-bedroom/one-bathroom units and two two-bedroom/one-bathroom units in 20,332 s/f of gross living area, in 27,132 s/f of gross area, on a 0.278-acre parcel. 101 Elm features renovations to most of the bathrooms as well as kitchen updates in all of the units. 105 Elm has a new boiler and newer hot water tank circulator as well as coin-operated laundry in the basement. The property includes on-site parking for tenants.

Bradley and Tom Connor of Horvath & Tremblay have arranged the sale of the Elm & Sargeant Portfolio, a two property 28-unit multifamily portfolio. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2.025 million. The portfolio consists of two multifamily investment properties located at 116-124 Sargeant St. and 263 Elm St. The portfolio consists of 28 total units, comprised of one studio unit, four one-bedroom/one-bathroom units, 19 two-bedroom/one-bathroom units, three three-bedroom/one-bathroom units and one retail unit with 25,838 s/f of living area, in 33,717 s/f of gross area, on a combined 0.27-acres.

Both 101-105 Elm St. and The Elm & Sargeant Portfolio are situated in downtown, offering access to an array of amenities, including shopping, dining, entertainment and services. Highlights include the historic Holyoke Merry-Go-Round, the Children’s Museum at Holyoke, and several outdoor parks. The properties also benefit from close proximity to the Holyoke Transportation Center and the Holyoke Amtrak Station and have access to I-91 and I-391, and US Rtes. 5 and 202.

Additionally, the properties are 3.5 miles from the Holyoke Mall, the third largest shopping mall in New England with over 1.6 million s/f of retail space featuring an extensive lineup of national retailers, restaurants, and amenities.

Downtown Springfield is nine miles to the south and features major attractions including the MGM Casino and the MassMutual Center, as well as a number of employment opportunities and proximity to area colleges and universities.