December 20, 2024 – William Peck, Tim Hines and Tom Connor of Horvath & Tremblay has arranged the sale of a six (6) unit multi-family apartment building in Derby, Connecticut. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $745,000.
The multi-family property is located at 52 Prospect Street in Derby, Connecticut. The Property is improved by two, two-story multi-family buildings and contains six (6) residential units comprised of three (3), 1-Bedroom/1-Bathroom units and three (3), 2-Bedroom/1-Bathroom units with 4,022 square feet of living area on a 0.32-acre corner parcel of land. The Property offers direct entry units, private patios/balconies for (select units), a private back yard, and ample on-site parking. Each unit is separately metered for electricity, heat (gas) and hot water (gas) which the tenants pay directly. The landlord is responsible for common area electric and domestic water and sewer. 52 Prospect Street is well-located on a quiet tree-lined street in a residential neighborhood in Derby. The Property is situated just off Derby Avenue (CT Route 34), the area’s primary commercial and commuter corridor. The building is close to a number of retail, dining, and entertainment amenities and offers convenient access to area highways, public transportation, local schools, and major area employers in the Naugatuck Valley. Additionally, the Property offers convenient access to Shelton, Bridgeport and New Haven.
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.