February 14, 2025 – Tim Hines and Tom Connor of Horvath & Tremblay have arranged the sale of an eight (8) unit multi-family property in Norwich, Connecticut. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $982,000.
The multi-family property is located at 506 & 508 Plain Hill Road in Norwich, Connecticut. The Property is improved by two (2) two-story buildings and contains eight (8), 2-Bedroom/1-Bathroom townhouse residential units with 6,400 square feet of living space in 9,600 square feet of gross area on a large 17.01-acre parcel. The well-maintained Property features new boilers and has an on-site laundry facility and abundant on-site parking for residents and visitors. The Property is located in a quiet residential area in the north end of Norwich. The Property is positioned on a large, private wooded lot and offers its residents tranquil living in a rural setting while also providing convenient access to area shopping amenities just a few miles away on W Town Street, the area’s primary commercial center positioned at the junction of CT Route 2 and Interstate 395, the area’s two highways. The location also offers numerous outdoor recreation activities with hunting, fishing, hiking, and walking trails nearby. Norwich is located in eastern Connecticut between Hartford and New London, two of the state’s largest markets. Norwich is 18-miles north of New London and 38 miles southeast of Hartford.
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.