Historical Multifamily Sale Listing - Gateway Estates

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Gateway Estates

229-233 Ellington Road, East Hartford, CT 06108

N/A

99 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
99
Building Size:
82,460 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Cap Rate:
9.40%
Gross Rent Multiplier:
5.41
No. Stories:
3
Year Built:
1975
Listing ID
16314897
Last Updated
over 1 year ago

Highlights

  • 99 Unit Suburban Complex
  • Close to South Windsor Town Line
  • Townhouse and garden apartments
  • Covered parking
  • Condominium Documents

Description

Chozick Realty, Inc., is proud to present Gateway Estates Condominiums. This offering consists of 99 condominium units with covered carports located within a 156 unit condominium complex. While 57 units are owned by third parties, the controlling interest and management of the property rests with the owner of the 99 units. As such the property while legally a condominium may be considered from an operational prospective as an apartment complex for the majority ownership.

Gateway Estates Condominiums is located in East Hartford approximately 100 yards of the South Windsor town line and is in close proximity to access to Interstate 84 as well as Interstate 91 via I-291. This ideal multifamily location offers a residential complex setting, yet is just minutes away for Downtown Hartford and a wealth of employment, entertainment and historical venues offered in Central Connecticut, making for an outstanding location in which to live and invest.

The spacious residences at Gateway Estates Condominiums offer large apartments with 2 studios of 480 sf; 37 one bedrooms of 740-820 sf; 28 two bedroom flats of 975 sf; 13 two bedroom townhouses of 1,340 sf; and 19 three bedroom townho

Gateway Estates Condominiums is located on 229-233 Ellington Road off AKA Route 5 in East Hartford, Connecticut in a multifamily residential setting. Ellington Road is a main arterial route connecting East Hartford to the Town of South Windsor approximately 100 yards north of Gateway Estates Condominiums. The immediate area is comprised of other multifamily condominiums as well as retail and residential uses. A full interchange with Interstate 84 is within close proximity and connection to I-291 is within ¼ mile of the property providing direct access to Interstate 91.

The location within East Hartford is desirable and provides a convenient location in which to live. The access to the highway provides an easy commute to employment centers in Hartford and the surrounding communities, as well as being desirable within East Hartford itself. Gateway Estates Condominiums is not only an attractive location in which to live, but also an attractive location in which to invest.

Map of 229-233 Ellington Road, East Hartford, CT 06108 (Hartford County)

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