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Grand Prix Apartments 544 Tolland St 45 Unit Apartment Building $6,000,000 ($133,333/Unit) 7.09% Cap Rate East Hartford, CT 06108
Investment Highlights
- 45 Units - Approx 2/3rd of Apartments Renovated
- Ample Parking on site
- Easy highway access
- New Hot Water System
- At 100% Occupied on consistent basis
- Turn Key with Rental Upside
Executive Summary
Chozick Realty is pleased to offer 544 Tolland Street, East Hartford, CT. This property has an outstanding operating history with many recent
updates. Approximately 2/3rds of the 45 units have been fully renovated and updated, offering not only a turn key investment, but further
upside rental growth.
HIGHLIGHTS
45 Units - (44 One Bedroom, 1 Studio)
Approx 2/3rds of units fully renovated
Close to Manchester Town Line
49 onsite parking spaces
Fully Occupied - Turn Key
Additional Upside Growth in Rents
updates. Approximately 2/3rds of the 45 units have been fully renovated and updated, offering not only a turn key investment, but further
upside rental growth.
HIGHLIGHTS
45 Units - (44 One Bedroom, 1 Studio)
Approx 2/3rds of units fully renovated
Close to Manchester Town Line
49 onsite parking spaces
Fully Occupied - Turn Key
Additional Upside Growth in Rents
Property Facts
| Price | $6,000,000 | Building Class | C |
| Price Per Unit | $133,333 | Lot Size | 0.65 AC |
| Sale Type | Investment | Building Size | 27,903 SF |
| Cap Rate | 7.09% | Average Occupancy | 96% |
| No. Units | 45 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1965/2020 |
| Property Subtype | Apartment | Parking Ratio | 1.79/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | B-3 | ||
| Price | $6,000,000 |
| Price Per Unit | $133,333 |
| Sale Type | Investment |
| Cap Rate | 7.09% |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.65 AC |
| Building Size | 27,903 SF |
| Average Occupancy | 96% |
| No. Stories | 3 |
| Year Built/Renovated | 1965/2020 |
| Parking Ratio | 1.79/1,000 SF |
| Zoning | B-3 |
Amenities
Unit Amenities
- Air Conditioning
- Disposal
- Heating
- Refrigerator
- Range
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 600 |
| 1+1 | 44 | - | 750 |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | EHAR-000037-000000-000252 | Improvements Assessment | $1,762,080 |
| Land Assessment | $128,220 | Total Assessment | $1,890,300 |
Property Taxes
Parcel Number
EHAR-000037-000000-000252
Land Assessment
$128,220
Improvements Assessment
$1,762,080
Total Assessment
$1,890,300
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Grand Prix Apartments | 544 Tolland St