12 Balaban Rd - Apartments FOR SALE


Colchester, CT 06415- Northwest New London/Colchester
$18,500,000 USD
203-692-2420
12 Balaban Rd, Colchester, CT for Sale
$18,500,000 USD
Apartments - FOR SALE
1/12
null | Request Cap Rate


HIGHLIGHTS

  • Assumable Financing at 2.91% Interest Only
  • Significant Recent Capital Expenditures
  • Immediate Scale
  • All-townhome Garden Style Property
  • Opportunities to Increase Revenue and Decrease Expenses
  • On-site Leasing Office, Playground, Dog Park, EV Chargers, Picnic Area

OVERVIEW

Northeast Private Client Group is pleased to present the exclusive opportunity to purchase The Colchester Estates in Colchester, Connecticut. This property consists of ninety-two (92) two-bedroom/one bathroom units. These ninety-two (92) units span 81,227 square feet. The offering is located on one (1) 26.44 acre parcel. Over the past five years, the property has benefited from a complete redevelopment. Work includes bringing all apartments to a renovated status. Which include hardwood flooring, shaker cabinetry, stone countertops, new appliances, tiled bathrooms, and more. The exterior improvements include new roofs, hardscaping, landscaping, basketball court and picnic area, playground, dog parks, gated entry, mailboxes, doors, EV charging stations, and asphalt repairs. Systems upgrades include new wells and water treatments systems, septic systems, generators, and an oil sub-metering system to bill tenants for their heating usage. Additional work completed by current and previous ownership includes new water system and wells, new septic system, new hardscaping, new landscaping and picnic areas, new EV charging stations, new mail center, and new gated parking. Strategically located 2-miles away from Rt. 2, in the town of Colchester, the Property benefits from being in easy commuting distance to Hartford and Lower New London County. Colchester's Town Center, only 2.5 miles away, offers a great destination for residents to enjoy restaurants and shops.

FOR SALE DETAILS

PRICE

$18,500,000 USD

PRICE/SF

$155 USD /SF

# OF UNITS

92

PRICE/UNIT

$201,087

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Colchester Estates

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1975

PARKING SPACES

100

LAND DETAILS

LAND ACRES

21.48 AC

LAND SF

935,669 SF

ZONING

R

APN/PARCEL ID

COLC-000004W-000005-000017

ASK ABOUT THIS PROPERTY

Edward JordanNortheast Private Client GroupMore Info
203-692-2420

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Edward JordanNortheast Private Client GroupMore Info
203-692-2420

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.