October 10, 2023 – Tim Hines of Horvath & Tremblay has arranged the sale of eighteen (18) multi-family units in Hartford, Connecticut. Hines exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,410,000.
The Properties are improved by three (3), three-story multi-family brick buildings located at 101-103 Shultas Place and 9, 17-19 & 21-23 Ellsworth Street in Hartford, Connecticut and contains eighteen (18) residential units comprised of thirteen (13) 3-Bedroom/1-Bathroom Units, and five (5), 2-Bedroom/1-Bathroom units with 19,876 square feet of living area in 25,692 square feet of total gross area on 0.65-acres of land (four parcels). The Properties also include 9 Ellsworth Street, a separate parcel that serves as a large off-street parking lot that is striped for fifteen vehicles. Additionally, the Properties are separately metered for electricity and gas heat and hot water, which the Tenants pay directly. The Properties are well-located in a densely populated residential neighborhood in Hartford’s south-end. The Ellsworth properties are positioned in between Maple Avenue and Broad Street and the Shultas property is positioned in between Maple Avenue and Franklin Avenue, and both are within walking distance of Franklin Avenue and Wethersfield Avenue, two of the area’s primary commercial thoroughfares. The Properties are well-located in the South End neighborhood of Hartford, a predominantly working-class residential area 2-miles south of Downtown Hartford with convenient access to Interstates 84 & 91, US Route 5, CT Route 99, Hartford Hospital, Trinity College, Brainard Airport, Goodwin Park, and Downtown employers. Public transportation along the municipal bus line is 200 feet away. Additionally, the Properties are less than 0.5-miles from the Trinity College campus, and are just 2-miles from Hartford’s Union Station.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.