value added (actual walk-in cap of 7%) of 170 multi-family units with very solid metrics (noi exceeding $1.2mm)
purchase price per the seller of $16,850,000 plus the buyer paid 4% real estate commission
this is a value added deal & a deal in Hartford Connecticut (west end: 06105)
portfolio sale of 170 multi-family units way under $100,000 per unit.
highlights:
170 value added units > $100/unit. this is a portfolio sale
28 buildings/25 parcels
all of the buildings are with-in 1/2 acre of each other
tenants pay their own utilities
50%/units 2+ bedrooms
excellent neighborhoods
professionally managed
excellent ingress/egress
onsite laundry
$95,000 price/unit
walk-in 7% cap rate (actual)
proforma cap rate 9.89%
153,295 rentable square footage.