October 17, 2019 – Tom Conner of Horvath & Tremblay has successfully completed the sale of four (4) multi-family units in Stamford, Connecticut. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $580,000, which translates to a 5.94% Cap Rate.
The multi-family investment property, located at 14 Camp Street in Norwalk, Connecticut is comprised of four (4) multi-family units. The two-story multi-family building consists of 3,514 square feet of living area on a 0.32 acre parcel. The property, which is separately metered for gas heat, hot water, and electric has been well maintained and has a spacious backyard as well as off street parking. The property has a desirable unit mix featuring three (3) one-bedroom, one-bathroom units, and one (1) two-bedroom, one-bathroom unit. The property is in a desirable, densely populated residential neighborhood. The property is located less than one mile from US Route 1, CT Route 7 and Interstate 95, providing convenient access to area shopping and towns throughout Fairfield County. The property is easily walkable to public transportation with Norwalk Transit “Wheels” bus service located on nearby Main Street and France Street. The property also benefits from close proximity to the East Norwalk Train Station along Metro North’s New Haven Line offering direct service to Manhattan’s Grand Central Station and downtown New Haven. The property also benefits from strong demographics with more than 92,000 people with an average household income in excess of $129,500 living within a 3-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.