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Garfield Avenue Apartments 145 Garfield Ave 38 Unit Apartment Building $5,500,000 ($144,737/Unit) 7.55% Cap Rate New London, CT 06320
EXECUTIVE SUMMARY
Garfield Avenue Apartments is comprised entirely of one-bedroom apartments, with consistently high occupancy levels.
The property features an attractive brick exterior, ample off-street parking for residents, and well-maintained common areas. The property is just minutes from I-95 and public transportation, providing easy access to the broader and located near major employers.
The property features an attractive brick exterior, ample off-street parking for residents, and well-maintained common areas. The property is just minutes from I-95 and public transportation, providing easy access to the broader and located near major employers.
PROPERTY FACTS Under Contract
| Price | $5,500,000 | Building Class | C |
| Price Per Unit | $144,737 | Lot Size | 0.94 AC |
| Sale Type | Investment | Building Size | 51,015 SF |
| Cap Rate | 7.55% | Average Occupancy | 97% |
| No. Units | 38 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1972 |
| Property Subtype | Apartment | Parking Ratio | 1.54/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-2 | ||
| Price | $5,500,000 |
| Price Per Unit | $144,737 |
| Sale Type | Investment |
| Cap Rate | 7.55% |
| No. Units | 38 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.94 AC |
| Building Size | 51,015 SF |
| Average Occupancy | 97% |
| No. Stories | 3 |
| Year Built | 1972 |
| Parking Ratio | 1.54/1,000 SF |
| Zoning | R-2 |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 38 | - | 600 |
1 1
Walk Score®
Very Walkable (73)
PROPERTY TAXES
| Parcel Number | NLON-000030-000160-000019 | Improvements Assessment | $1,255,200 |
| Land Assessment | $532,000 | Total Assessment | $1,787,200 |
PROPERTY TAXES
Parcel Number
NLON-000030-000160-000019
Land Assessment
$532,000
Improvements Assessment
$1,255,200
Total Assessment
$1,787,200
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Garfield Avenue Apartments | 145 Garfield Ave
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