Hartford, CT Tess Cullen of Chozick Realty has facilitated a 38-unit, two building sale in the West End and Asylum Hill neighborhoods of the city. Closing at a sales price of $3.325 million, ($87,500 per unit) this sale represents a closing at the upper range of price per unit in the city over the past year.
The two 19-unit buildings are located just a short distance from each other at 4 Atwood St. and 37 Kenyon St. The seller over a period of the past four years had substantially renovated the buildings, remodeling apartments with new kitchens, bathrooms, lighting, and other interior finishes as well as common areas, creating a truly turnkey investment for the purchaser. Not only did the high-end renovations bring top of the market rents for the area but assures a very low turnover according to Cullen.
This two-property portfolio was marketed for less than 10 days before Cullen procured the buyer, who in turn closed in less than 60 days.
Norwalk, CT Highcap Group has completed the sale of two luxury multifamily properties with a total of 120 units for a combined purchase price of $41.4 million.