December 7, 2021 – 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 $435,000.
The multi-family property is located at 105 West Street in New Britain, Connecticut. The property consists of a three-story, brick building with six (6) 2-Bedroom/1-Bathroom units in 6,405 square feet of living area in 8,712 gross square feet. The property is located on a 0.2-acre lot with off street parking for two vehicles. 105 West Street is separately metered for electricity and gas (heat and hot water), which the tenants pay directly. The landlord is solely responsible for domestic water and sewer. 105 West Street is well-located 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 situated 1 mile from Central Connecticut State University and 11 miles from Downtown Hartford. 105 West Street also benefits from strong rental demographics, an impressive 165,900+ people live within 5 miles of the Properties with an average household income of $93,980.
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.