Gomberg Report >
Connecticut

Updated 7/11/2012
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Connecticut
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
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 Bridgeport
24 units
NOI=148,500
68,750

Brick apartment building with all 1BR units. Located across the street from Ocean Park Beach.

William Bonfanti 860-227-4076
 Bristol
32 unit
mixed-use
251,933
6.62
52,187
26 apartment units and 6 retail units, fully leased, in a well-maintained property with off-street parking.
Ed Jordan 203-692-2420
Middletown
32 unit
NOI=173K
76,562

Recent capital improvements include a new roof in 2005, repaved parking lot in 2003 along with common area and unit updates. There are 24 1BR and 8 large studio apartments with tenant paid electric heat. Located on a main route in close proximity to Downtown as well as Wesleyan University.

Rick Chozick 860-247-7400
Naugatuck
33 units
283,527
6.98
59,969
Nestled in the suburban hills this solid brick building has 18 2BR (+/- 950 square feet) and 15 1BR units (+/-650 square feet). ! The majority of the units have balconies with private access.  The units are heated by individual electric baseboard. Tenants are responsible for their own electric. The property has a central fired hot water heater. The building is serviced with a Otis hydraulic elevator and provides onsite, coin-op laundry with a washer and dryer on each of the three floors.
Steve Pappas 860-977-2625
 Putnam
27 units
59,259
Converted school, fully occupied with strong cash flow. Located off I-395.
Dan McGee 617-457-3400
ext 2810
 Waterbury
42 units
NOI=182K
52,381
The property is on the Waterbury/Naugatuck border in a nice single family neighborhood. The property consist of 42 2BR units house in 6 garden apartment buildings. There are two style of units 1 is 900 sq/ft and the other is 800 sq/ft. There are 32 garages and plenty of off street parking. Each building also has on site laundry service. Four of the boilers have been repalced in the last 5 years. Last year the entire parking area was repaved and striped. All 6 buildings were painted last year including, decks, garage doors, windows, soffits and doors.
Kevin Fang 914-393-5708
60 units
478,776
6.89
55,000
Class "B" apartment property with 12 studios, 9 1BR, and 39 2BR units sited on 1.61 landscaped acres.  Tenant amenities include ample off-street parking, lobby with intercom, fitness center, on-site leasing office, elevator, and on-site laundry facility. Tenants are responsible for their heat, hot water, and electric. Heat is provided by electric base board units, and hot water is provided by individual electric hot water heaters. 

Edward Jordan 203-692-2420
 West Haven
53 units
NOI=358,800
73,585
Apartment building with 3 studios, 32 1BR and 18 2BR units. Tenants pay all utilities.
William Bonfanti 860-227-4076
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