Hines of Horvath & Tremblay facilitates two multifamily sales totaling 51 units

Hartford, CT Tim Hines of Horvath & Tremblay has facilitated the sale of two multi-family transactions totaling 51 units for a total of $3.435 million.

Hines arranged the sale of a 33-unit multi-family portfolio. Hines exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2.025 million. The multi-family portfolio is comprised of 33 units spread across three properties. The three-property portfolio is in southern Hartford with one property in the Frog Hollow neighborhood in between Trinity College and I-84, one property in the Barry Sq. neighborhood in between Maple Ave. and Trinity College and one property in the South End neighborhood in between Maple Ave. and I-91. In total, the portfolio consists of 33 units made up of 18 two-bedroom units, and 15 one-bedroom units. 78 Hamilton St. is a three-story brick building constructed in 1912 and contains six, two-bedroom/one-bathroom units with 5,526 s/f of living area in 8,036 s/f of gross area on a 0.19-acres. 27 Allen Place is a three-story building constructed in 1929 and contains nine, one-bedroom/one-bathroom units with 4,560 s/f of living area in 6,280 s/f of gross area on a 0.21-acre lot with on-site parking. 555 Wethersfield Ave. is a three-story brick building constructed in 1928 and contains eighteen units comprised of six, one-bedroom/one-bathroom and twelve two-bedroom/one-bathroom units with 17,184 s/f of living area in 25,152 s/f of gross area on a 0.29-acre lot. Each of the properties in the portfolio are approximately 1.5 to 1.75 miles from downtown and the location offers access to area highways, public transportation, major area employers, and numerous retail amenities.

Hines also arranged the sale of eighteen multi-family units. Hines exclusively represented the seller and sourced the buyer to complete the transaction at a sale price of $1.41 million. The properties are improved by three, three-story multi-family brick buildings located at 101-103 Shultas Pl. and 9, 17-19 & 21-23 Ellsworth St. and contains eighteen residential units comprised of thirteen three-bedroom/one-bathroom units, and five, two-bedroom/one-bathroom units with 19,876 s/f of living area in 25,692 s/f of total gross area on 0.65-acres. The properties also include 9 Ellsworth St., a separate parcel that serves as a large off-street parking lot that is striped for fifteen vehicles. Additionally, the properties are separately metered for electricity and gas heat and hot water, which the tenants pay directly. The properties are well-located in a populated residential neighborhood in the south-end. The properties are a predominantly working-class residential area two miles south of downtown with access to I-84 and I-91, US Rte. 5, CT Rte. 99.

Hartford Hospital, Trinity College, Brainard Airport, Goodwin Park, and downtown employers. Public transportation along the municipal bus line is 200 feet away. Additionally, the properties are less than 0.5-miles from the Trinity College campus, and are just two miles from Union Station.