January 20, 2022 – Tim Hines of Horvath & Tremblay has arranged the sale of a six (6) unit multi-family apartment building in Hartford, Connecticut. Hines exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $420,000.
The multi-family apartment building is located at 44 Edgewood Street in Hartford, Connecticut. The property consists of a three-story building with a brick exterior and six (6) total units comprised of six (6), 3-Bedroom/1-Bathroom units with 6,734 square feet of living area in 7,405 square feet of gross area on a 0.17-acre lot. The building is separately metered for electricity, gas heat, and hot water, which the tenants pay directly. The Property offers large units, ample on-site parking in the rear of the building and a new roof (2020). The Property is well-located in Hartford’s North End neighborhood. The location offers convenient access to Main Street, Interstate 84, Interstate 91, and US Routes 44 and 6. Keney Park, Hartford’s largest park, is just 1-mile from the Property and Bushnell Park, surrounding the State Capitol, is 1.3-miles from the Property. Additionally, several bus routes have stops close to the property along Albany Avenue. The Property enjoys convenient access to downtown Hartford and the Central Business District (1.3-miles away), and is just 0.5-miles from Saint Francis Hospital. Upper Albany is a densely developed, residential neighborhood centered around Main Street and Albany Avenue/US Route 44. The area is home to numerous public schools, parks, retail shops, and entertainment amenities for residents, and the new Dunkin Donuts Park (home to the Hartford Yard Goats, a minor league baseball team).
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.