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Vernon Gardens Apartments 695 Talcottville Rd 154 Unit Apartment Building $40,000,000 ($259,740/Unit) 5.81% Cap Rate Vernon, CT 06066
Investment Highlights
- Vernon Gardens offers a rare combination of quality, tremendous value, and upside.
Executive Summary
Vernon Gardens Apartments offers a rare combination of quality, value, and upside. Our fully renovated apartments feature real hardwood floors and ceramic tile, setting us apart from typical rentals. With most utilities included and competitive pricing, residents enjoy exceptional value and predictable costs. The property is over 95% renovated, allowing for efficient, low-maintenance operations and consistent performance. Located in a rapidly growing area with strong demand, Vernon Gardens not only delivers immediate appeal, but also offers clear rent growth potential, with rents positioned at least 15% below comparable properties.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $40,000,000 | Apartment Style | Garden |
| Price Per Unit | $259,740 | Building Class | B |
| Sale Type | Investment | Lot Size | 31.23 AC |
| Cap Rate | 5.81% | Building Size | 188,116 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 154 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1965/2018 |
| Property Subtype | Apartment | Parking Ratio | 1.86/1,000 SF |
| Zoning | 19 PRD - multifamily | ||
| Price | $40,000,000 |
| Price Per Unit | $259,740 |
| Sale Type | Investment |
| Cap Rate | 5.81% |
| Sale Condition | 1031 Exchange |
| No. Units | 154 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 31.23 AC |
| Building Size | 188,116 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1965/2018 |
| Parking Ratio | 1.86/1,000 SF |
| Zoning | 19 PRD - multifamily |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Microwave
- Storage Space
- Heating
- Tile Floors
- Kitchen
- Granite Countertops
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Yard
- Basement
- Lawn
- Smoke Free
- Vinyl Flooring
- Large Bedrooms
- Quartz Countertops
Site Amenities
- Clubhouse
- Laundry Facilities
- Picnic Area
- Pool
- Property Manager on Site
- Guest Apartment
- Recycling
- Smoke Free
- Walking/Biking Trails
- Storage Space
- Bicycle Storage
- Online Services
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 105 | $1,650 | 800 |
| 2+1 | 25 | $2,000 | 1,000 |
| 2+1.5 | 24 | $2,300 | 1,100 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | VERN-000007-000002-000004 | Total Assessment | $7,980,430 (2025) |
| Land Assessment | $1,276,800 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $6,703,630 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
VERN-000007-000002-000004
Land Assessment
$1,276,800 (2025)
Improvements Assessment
$6,703,630 (2025)
Total Assessment
$7,980,430 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
Contact
-
Pietr Gjelaj - Assetrise Management LLC
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Assetrise Management LLC
Vernon Gardens Apartments | 695 Talcottville Rd
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