151-171 Oneco Ave - Apartments FOR SALE


New London, CT 06320
$3,950,000 USD
203-692-2420
151-171 Oneco Ave, New London, CT for Sale
$3,950,000 USD
Apartments - FOR SALE
1/16
null | 7.04% Cap Rate

151-171 Oneco Ave
New London, CT 06320


HIGHLIGHTS

  • Value-Add Opportunity - $118,000 in Upside
  • Flourishing Submarket – Economic Strength
  • Exceptional Rental Demand
  • Diverse & Resilient Employment Ecosystem
  • Immediate Access to Transportation & Transit
  • Local Shopping, Dining, Nightlife, Arts & Culture

OVERVIEW

Northeast Private Client Group is pleased to exclusively present Harbortree Apartments, a 28-unit value-add apartment complex located in New London, Connecticut. Built 1964-1968, the community is comprised of five detached buildings consisting of 8 studio, one bath, 16 one bedroom, one bath, and 4 two bedroom, one bath apartments set on 0.97 acres. Harbortree Apartments’ location provides immediate access to Interstates 95 & 395, the New London Union Train Station, and the New London Ferry Terminal. Additionally, it provides convenient access to local shopping, dining, nightlife, and several community parks, as well as Connecticut College, the United States Coast Guard Academy, and Lawrence Memorial Hospital. This property presents an ideal opportunity for investors looking to acquire a stable asset with significant upside potential in a burgeoning market. A new owner will have the opportunity to improve curb appeal and amenities and continue unit renovations to capture a proven premium in the market.

FOR SALE DETAILS

PRICE

$3,950,000 USD

PRICE/SF

$247 USD /SF

# OF UNITS

28

PRICE/UNIT

$141,071

CAP RATE

7.04%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Harbortree Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.97 AC

LAND SF

42,253 SF

ZONING

-

APN/PARCEL ID

NLON-000058-000319-000019,NLON-000058-000319-000020,NLON-000058-000319-000021,NLON-000058-000319-000022,NLON-000058-000319-000023

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 Policy.