December 30, 2021 – Tim Hines of Horvath & Tremblay has arranged the sale of the Parkville Multi-Family Portfolio in Hartford, Connecticut. Hines exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,295,000.
The Parkville Portfolio of co-located multi-family properties is situated in the Parkville neighborhood of Hartford, Connecticut. The Portfolio is centered around the Sisson Avenue exit ramp (via Interstate 84) and consists of 18 units made up of 12, two-bedroom units, and 6, one-bedroom units. The Parkville Portfolio represents the rare opportunity to acquire a critical mass of closely located, value-add, multi-family properties in a supply-constrained rental market. The Portfolio is comprised of three properties: 82-84 James Street is a three-story brick building constructed in 1925 and contains six (6), 1-Bedroom/1-Bathroom units in 5,076 square feet of living area on a 0.12-acre lot with ample off-street parking. 89-91 James Street is a three-story brick building constructed in 1914 and contains six (6), 2-Bedroom/1-Bathroom units in 6,048 square feet of living area on a 0.15-acre lot with ample off-street parking. 1063-1065 Capitol Avenue is a three-story brick building constructed in 1914 and contains six (6), 2-Bedroom/1-Bathroom units in 6,036 square feet of living area on a 0.13-acre lot with ample off-street parking. The building also features new boilers, hot water heaters, and electrical panels. The Portfolio is well-located in Hartford’s Parkville neighborhood, just under 2 miles west of the Central Business District. The location offers convenient access to Interstate 84, Interstate 91, and US Route 6. CTfastrak’s Parkville Station is just a few hundred yards away from the Property and several other bus routes have stops within walking distance. Parkville is a densely developed, mixed use neighborhood centered around Park Street and Capitol Avenue. The area offers a multitude of retail and entertainment amenities for residents, in addition to several commercial and religious establishments.
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.