Historical Multifamily Sale Listing - Austin Heights Apartments

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Austin Heights Apartments

296 Austin Road, Waterbury, CT 06702

N/A

104 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
104
Building Size:
127,232 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Cap Rate:
8.19%
Gross Rent Multiplier:
5.23
Occupancy:
100%
No. Stories:
2
Year Built:
1972
Lot Size:
12.50 AC
Listing ID
16407731
Last Updated
over 1 year ago

Highlights

  • Townhouse Apartment Complex
  • 104 Unit - 100 are three & four bedroom townhouse style
  • HUD project based rental assistance contract
  • Many recent updates
  • Consistent occupancy at or close to 100%
  • Residential location, central to highway access

Description

Austin Heights Apartments is a 104 unit garden apartment complex constructed in 1972 and substantially renovated in 2005. It contains approximately 127,232 square feet of living area in 15, two story buildings. Austin Heights is a family apartment community and offers the rental stability of a project based HUD rental assistance contract for 63 of the 104 apartments. The unit mix consists of very spacious units which are predominately three and four bedroom townhouse apartments. The unit mix contains 4 one bedrooms of 608 sf; 4 two bedrooms of 750 sf; 60 three bedroom townhouses of 1,220 sf and 36 three bedroom townhouses of 1,350 sf. The large size of the apartments along the HUD rental contract, the units design and style together with the properties location and on site management have kept Austin Heights Apartments at or near 100% occupancy on a consistent basis. This 104-unit community offers a convenient residential setting on an attractively landscaped 12.5 acres site. At the time of the 2005 property renovation, units were updated with many new kitchens and appliances, all new bathrooms and mechanical system updates and roof replacements with additional updates.

Austin Heights Apartments is located at 296 Austin Road in the City of Waterbury. Waterbury is a city located in New Haven County and is approximately 20 miles southwest of Hartford and approximatly 90 miles north of New York City. Waterbury is serviced by Interstate 84 and Route 8 connecting to Interstate 95 as well as Metro North Rail service making it easily accessable to the Tri-State region. According to 2008 Census Bureau estimates, the population of the city is 108,120 making it the second largest city in New Haven County and the fifth largest city in the State.
Austin Heights Apartments are located just one block from a full interchange with Interstate 84 and within a short drive of the downtown section of Waterbury. Within the downtown area can be found the municipal offices, retail and office use as well residential uses. The main commercial/retail area of Waterbury is located approximatly 1 mile from Austin Heights with the Brass City Mall and its surrounding retail centers.

Map of 296 Austin Road, Waterbury, CT 06702 (New Haven County)

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Created 9/24/2009