January 11, 2022 – Tim Hines of Horvath & Tremblay has arranged the sale of two mixed-use buildings containing thirteen (13) units in Hartford, Connecticut. Hines exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $760,000.
The two mixed-use buildings are located at 282-284 and 286-292 Bellevue Street in Hartford, Connecticut. The Property is comprised of two adjacent three-story brick buildings containing a total of thirteen (13) units. 282-284 Bellevue Street consists of five (5), 3-Bedroom/1-Bathroom units and one (1), 2-Bedroom/1-Bathroom unit in 5,940 square feet of living area on a 0.21-acre parcel. 286-292 Bellevue Street consists of one (1), retail suite, one (1), office suite, and five (5), 2-Bedroom/1-Bathroom units (one of the units has 1.5 bathrooms) in 6,161 square feet of living area on a 0.16-acre parcel. Each unit is separately metered for electricity, and gas heat and hot water, which the Tenants can pay directly. The Property is well-located in Hartford’s Clay Arsenal neighborhood. The location offers convenient access to Main Street, Interstate 84, Interstate 91, and US Routes 44 and 6. Riverside Park, on the banks of the Connecticut River, and Keney Park (Hartford’s largest park) are just 1-mile from the Property. Additionally, several bus routes have stops close to the property along Main Street and Windsor Street. The Property enjoys convenient access to downtown Hartford and the Central Business District (1.25-miles away). Clay Arsenal 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 including the Xfinity Theatre (Connecticut’s largest live music venue) 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.