Chozick Realty Sells Multifamily Property In Avon, CT For $29M
SOLD
$29,000,000
Connecticut
See Similar DealsMultiFamily1,200 SF
Sold 09/02/2021
SOLD
Chozick Realty Sells Multifamily Property In Avon, CT For $29M
75 Avonwood Road, Avon, CT 06001
See Similar DealsMultiFamily1,200 SF
Sold 09/02/2021
Summary
CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$24,166
Total Square Footage:1,200 SF
Transaction Type:Sale
The multifamily property located at 75 Avonwood Rd in Avon, CT has been sold for a total price of $29,000,000. The transaction took place on September 2, 2021. The property spans an area of 50 acres and consists of 186 units. The price per unit comes to $155,914. Rick Chozick and David Chozick from Chozick Realty represented the parties involved in the sale.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $29,000,000
- Address: 75 Avonwood Rd, Avon, CT
- Market: Avon, CT
- Acres: 50
- Units: 186
- Price per Unit: $155,914
Rick Chozick and David Chozick of Chozick Realty facilitated the sale as the brokers representing the parties involved. Their expertise and experience played a crucial role in completing this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,546,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$103,030.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$137,474.80
Annual Debt Service$1,649,697.54
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