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Chozick Realty Sells 176 Apartment Units In Hartford Multifamily Deal For $12.925M

Property Image
SOLD
$12,925,000
Jordan Pinto
Steve Pappas

Connecticut

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MultiFamily
Sold 07/19/2024
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Property Image
SOLD

Chozick Realty Sells 176 Apartment Units In Hartford Multifamily Deal For $12.925M

115-141 South Marshall Street

See Similar Deals
MultiFamily
Sold 07/19/2024
Jordan Pinto
Steve Pappas
the dealplayerscompscontact
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Summary

CONNECTICUT
Asset Type:MultiFamily
Transaction Type:Sale

This multifamily asset is located at 115-141 South Marshall Street in Hartford, CT, consisting of 176 apartment units. The transaction was finalized for a sale price of $12,925,000, resulting in a price per unit of $73,438.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $12,925,000
  • Units: 176
  • Price Per Unit: $73,438
  • Date of Sale: 07/19/2024
  • Market: Hartford, CT

The deal was facilitated by brokers Steve Pappas and Jordan Pinto from Chozick Realty. Their involvement highlights the strong demand and investment potential in Hartford's Asylum Hill neighborhood rental housing market.

Players

Steve Pappas
Chozick Realty
Steve Pappas
11 deals$82.3M volume
BROKER
Jordan Pinto
Chozick Realty
Jordan Pinto
2 deals$23.9M volume
BROKER

Details

SOLD
IMAGE: 07/19/2024 ADDRESS: 115-141 South Marshall Street MARKET: Hartford, CT ASSET TYPE: Multifamily BROKERS: Steve Pappas & Jordan Pinto - Chozick Realty SALE PRICE: $12,925,000 UNITS: 176 ~ PPU: $73,438 NOTE: Chozick Realty Inc. sold 176 apartment units in Hartford's Asylum Hill neighborhood for $12.925 million. The deal, managed by brokers Steve Pappas and Jordan Pinto, highlights strong demand and investment potential in the area's rental housing market.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$689,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$45,919.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,271.09
Annual Debt Service$735,253.13