Five-Building Holyoke Multifamily Portfolio Trades for $12.42M via NE PrivateMay 02, 2023
HOLYOKE — Commissioned as the Walnut, Pine, Lyman & Appleton Apartment Portfolio in Holyoke, MA, North East Private Group’s Vice President of Investments Taylor Perun, along with Investment Associates Alex Burr, and Cameron Formica represented the seller and procured the buyer for a 5-building multifamily transaction closing at $12, 420,000.
According to a release the Walnut & Pine Apartments consist of two buildings conveniently located across the street from one another, presenting an exceptional investment opportunity. The Walnut Street building features 20 units, including a mix of four (4), one-bedroom, six (6), two-bedroom, and ten (10) three-bedroom units. Meanwhile, the Pine Street building offers 22 units, comprised of four (4) one-bedroom, 11 two-bedroom, and seven (7) three-bedroom units.
Lyman & Appleton Apartment Portfolio is a mixed-use comprising 35 units and three (3) retail suites. This portfolio is spread across three buildings. “Holyoke continues to draw interest from local and out-of-state investors, primarily because of the strong rental growth and demand for housing within the city. Investors have gravitated to this community as an alternative to the greater Hartford/Springfield market since Holyoke has matured behind other markets. This portfolio is an incredible opportunity for the value-add investor. The city has seen an influx of new investment and business that are improving many neighborhoods” confirmed Taylor Perun, Senior Associate.
212-214 Lyman Street & 56 Elm Street is made up of 15 – two bedrooms and three (3) – three-bedrooms, catering to a wide range of renters. In addition, two (2) currently lease retail suites ensure a steady income stream. 224-226 Lyman Street included 11 – two-bedroom apartments and one (1) currently leased retail suite. 340 Appleton Street included (1) one-bedroom and five (5) two-bedroom apartments and off-street parking at this location.