140 Daly Ave - Apartments FOR SALE


New Britain, CT 06051- New Britain/Newington/Wethersfield
$1,650,000 USD
860-977-2625
140 Daly Ave, New Britain, CT for Sale
$1,650,000 USD
Apartments - FOR SALE
1/4
null | 7% Cap Rate


HIGHLIGHTS

  • 8 of the 10 units have been expertly renovated
  • Tenants pay all utilities
  • Townhouses separately metered for water and sewer
  • Mini splits and heat pump hot water heaters in each TH. Brand new!
  • New Roofs and windows throughout
  • 3 family COMPLETELY upgraded. Renovated, fire alarm, electric, blown in insulation etc etc

OVERVIEW

Presenting a rare investment opportunity of two fully improved multi-family buildings—140 Daly Ave and 181 Willow Street—situated on the same tax parcel, offering a total of 10 residential units and 10 garages. The three family at 140 Daly Ave has been completely gut renovated with high-end finishes. Each unit features washer/dryer hookups as well as its own tenant-paid gas furnace, with blown-in insulation, updated electrical systems, newer roof and windows, and a fully integrated fire alarm system with annunciator. A detached 3-car garage adds further value. 181 Willow Street offers 7 townhouse units which includes five units that have been fully renovated to a high-end standard, with major capital improvements throughout. Every unit is equipped with a brand new mini-split HVAC system and a high-efficiency heat pump hot water heater. All units have individual water and sewer meters, with tenants responsible for all utilities. Each unit also includes washer/dryer hookups as well as its own private garage and balcony. Daly Apartments is located in the eastern section of New Britain within approximately 1 mile of Central Connecticut State University, 3 miles of West Farms Mall and Downtown New Britain, only 1.1 miles away. Newington, to the east, is only 1.5 miles away. The neighborhood is mixed use in nature with commercial, retail, industrial and residential uses within close proximity. Highway access is located within 1/8th of a mile via Rt. 9 &72 making for a desirable and convenient location within New Britain. With premium upgrades, separate utilities, and modern mechanicals, this turnkey property offers excellent cash flow potential and long-term value for any investor. Owner is a licensed Real Estate Agent.

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$162 USD /SF

# OF UNITS

10

PRICE/UNIT

$165,000

CAP RATE

7%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1980

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.4 AC

LAND SF

17,424 SF

ZONING

T

APN/PARCEL ID

NBRI-000006B-000000-B000041

ASK ABOUT THIS PROPERTY

Steve PappasChozick Realty Inc.More Info
860-977-2625

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Steve PappasChozick Realty Inc.More Info
860-977-2625

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