October 11, 2019 – Tom Conner of Horvath & Tremblay has successfully completed the sale of six (6) multi-family units in Stamford, Connecticut. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $767,500, which translates to a 7.08% Cap Rate.
The multi-family investment properties, located at 67 & 69 Greenwood Avenue in Bethel, Connecticut is comprised of two multi-family buildings totaling six (6) apartments. 67 Greenwood Avenue contains two (2) three-bedroom units, one with a single bathroom and one with two (2) bathrooms, and 69 Greenwood Avenue contains one (1) two-bedroom, one-bathroom unit and three (3) one-bedroom, one-bathroom units. The two multi-family buildings, constructed in 1840, consist of 4,640 square feet of living area on 0.99 acres of land. Both buildings are separately metered for heat, hot water and electricity, and have been well maintained with new roofs and mechanicals. Both properties offer a spacious backyard and off street parking. The properties are in a desirable, suburban neighborhood. The properties are located along Greenwood Avenue immediately adjacent to the village center, providing convenient access to area shopping, dining options and the Bethel train Station. Additionally, the interchange of the area’s primary highways, Interstate 84 and Route 7 is located 4.5 miles away. The properties also benefits from strong demographics with more than 43,500 people living within a 3-mile radius and an average household income in excess of $101,000 living within a 2-mile radius.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.