October 14, 2020 – Tim Hines of Horvath & Tremblay has arranged the sale of a six (6) unit multi-family property in New Britain, Connecticut. Hines exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $305,000.
The multi-family property is located at 270 High Street in New Britain, Connecticut. The property consists of a three-story building with a brick exterior and six (6), 2-Bedroom/1-Bathroom units in 5,892 square feet of living area in 8,402 gross square feet. The property is located on a 0.20-acre lot with off street parking for seven vehicles at the rear of the property. 270 High Street is separately metered for heat, hot water, and electricity and features new fire-code compliant doors, a hardwired fire system, two new boilers, a newer roof, replacement windows, and laundry hookups in each unit. 270 High Street is well-located on a residential street in central New Britain with convenient access to area highways (I-84, and CT Routes 9 and 72), public transportation, and numerous retail amenities. The Property is also located less than 2 miles from Central Connecticut State University and 9 miles from Downtown Hartford. The property also benefits from strong rental demographics, an impressive 160,000+ people live within 5 miles of the Properties with an average household income of $89,000.
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.