Gomberg Report: Connecticut

Property Description

This Historic School Building was renovated and converted to luxury apartments in 1983-84. There are a mix of large 1BR and 2BR units. Amenities include fitness center, sauna room, roof top deck with hot tub, greenhouse and grill, and beautiful entry atrium. Individual tenant paid electric HVAC. Fully sprinklered.

Property consists of three contiguous buildings with 26 apartments (2 studios, 10 1BR and 14 2BR) and 6 ground floor retail units. The buildings have many recent improvements including all new rubber roofs, vinyl siding replacement on all fire escapes, renovation of the common areas along with many apartment renovations. Plenty of off-street parking. Many below market rents.

Property consists of two adjacent apartment buildings. One building has 18 1BR units, all approx. 810 sq. ft. The other building has 6 3BR units, all approx. 1,300 sq. ft. Owner pays heat for 18 unit and tenants pay heat for 6-unit. Ample on-site parking. All windows replaced within the past two years.

Property consists of two adjacent West End apartment buildings that share a driveway leading to 20 parking spaces. One building has 9 2BR units, all approx. 850 sq. ft. Tenants pay all utilities. The other building has 12 1BR units, all approx. 600 sq. ft. The owner pays heat.

12 unit
mixed-use
New Listing

Property consists of 9 2BR apts, 2 3BR apts, and one retail units. Tenants pay all utilities. Most windows have been replaced within the last two years.

1969 three-story elevator building with 31 1BR and 2 2BR units. Twenty parking spaces and on-site super.

Property consists of 5 2BR/1BA and 12 2BR/2BA. All of the units have central A/C, w/d hook-ups and d/w. Tenants pay all utilities. Built in 1929, the building was gut rehabbed in 1985. There is parking for 26 cars. 6 of the spaces are rented out to a nearby office for added income.

Brick apartment building with 42 2BR, 11 3BR and 3 4BR units. High occupancy. South End location near Hartford Hospital and Colts Park.

Well maintained fully occupied brick apartment building with 6 1BR and 4 2BR units. Individual heat paid by tenants. New roof and nicely landscaped grounds.

1974 Apartment building with 25 studios and 4 1BR units. Major rehab done in the past two years include upgrades including new carpeting, light fixtures, appliances, bath and cabinets to 75% of the units. Also upgrades to common areas, electrical, plumbing and security systems. Tenants pay all utilities. All units have balconies. Two on-site laundry facilities for additional income.

Fully occupied apartment building with many recent upgrades including 15 separate gas boilers, roof, windows, decks and fire system. Lead abated building.

Professionally managed brick building consists of 39 apartments (24 studios and 15 1BR) and 5 ground floor retail units. The property is fully rented and historically runs at a very high occupancy.

Apartment building with 6 1BR and 12 2BR units. Updates include new rubber roof, windows and electric. Unit upgrades include many new kitchens, baths, paint and carpet. Tenants pay for heat.

Property Description

Built in 1971 this 16 unit brick apartment building sits in a residential area. A good number of units have had many upgrades over the past 5 years. Thermo-pane vinyl windows and the roof were installed in 2006. There are 16 parking spaces. The property also has a hard-wired fire alarm system that is monitored 24 hours a day. The property is easily accessible to both I-95 and Route 8.

Property consists of four retail stores on the first floor and 13 apartments above. Tenants pay all utilities.

Property Description

Recently renovated mixed-use building located in the center of downtown. There are 4 street level retail stores and apartments above.

The property consists of all 2BR/1.5BA units. The units all have hardwood floors and the windows are new. Tenants pay all utilities and there is off street parking. 8.5% CAP

Quality construction 1999 apartment complex situated on 2.8 acres. There are 5 studios, 54 1BR, 1 2BR and 1 3BR units. All new mechanicals. Separate utilities. Well maintained grounds.

Property consists of three buildings on three separate parcels. There are 12 studios, 5 1BR and 13 2BR units. Buildings are very well maintained with numerous recent upgrades. Historic high occupancy levels.

Apartment complex with 22 HAP based contract units and the remainders are section 8 voucher units for a complete elderly based complex consisting of 7 buildings. This garden style, elderly housing complex has a historical occupancy at or close to 100% with extremely low turnover. The property is well groomed and tucked away in a residential setting on a dead end road. Built in 1972, the buildings have little to no deferred maintenance scoring a 94B on the last REAC inspection. New vinyl siding for worry free exterior and building on slab combine for easy routine maintenance. Electric baseboard heat with certain energy saving steps enables the owner to have the comfort of limited mechanicals to hedge against increasing utility cost.

Located in the heart of downtown this property consists of 21 apartments (3 1BR, 16 2BR, 2 3BR) and 6 ground floor retail units with long term tenancy, including a very successful Bar and Grill.

Property Description

Apartment building consists of 4 1BR, 2 2BR and 4 3BR townhouses. Recent improvements include newer windows, front and rear decks, roof, 200 amp electric, laundry facilities and pavement. Situated on dead end road in attractive neighborhood. High occupancy history and many long term tenants. Ample off-stree parking.

Four contiguous buildings/one integrated complex. Class A&B offices . Strategically located near Pfizer and Shaw's Cove Office Park. Easy access to I-95.

This property consists of one Class A- office and five large 2BR and two 1BR apartments with plenty off street parking.
The property consists of a long-term doctors office having about 1674 sq. ft. on the ground floor. This area provides a waiting room having wall-to-wall carpeting, suspended ceiling, carpeted office, four exam rooms, a public restroom and a second waiting room. There is a private area in the west section of the building encompassing the doctor's personal office including a lab, kitchenette and private restroom.

Property Description

This apartment bldg. consists of all 2BR townhouses with plenty of off-street parking. The property has been almost completely renovated and is ready for present or future condo conversion. Situated on a dead end road in an attractive neighborhood, high occupancy and long-term tenants are the norm. Little to no deferred maintenance,

This property consists of 3 wood frame buildings located on 1.2 acres. The property contains 3 1BR, 3 2BR, 4 2BR townhouses and 4 3BR units. Fully rented with ample parking, as well as, a garage on-site. Many capitol improvements include, but are not limited to, thermal pane windows and vinyl siding throughout all three buildings, 2 of the three roofs are brand new, newer driveway, almost all individual hot water tanks replaced, updated coin-op laundry, updated cabinets, as well as, updated kitchens.

Property Description

3-story 39,000+ sq. ft. brick building with 20 apartments and 10 stores. All apartments are 3BR 1,100 sq. ft. units. All stores are street level and also 1,100 sq. ft. units. Reduced price.

Property Description

Well maintained Six-Family with all 2BR units, including one 2-story townhouse style. All separate utilities. Updates include new windows, kitchens and baths. Long term tenants.

Fully occupied and well maintained vinyl-sided apartment building consisting of 4 1BR and 8 2BR units. Recent upgrades to kitchens, floors, cabinets, counters, appliances and a new parking lot.

Property Description

Fully occupied 1965 apartment complex situated on 10 acres. There are four garden style buildings consisting of 42 1BR and 31 2BR units. Tenants pay all utilities including heat and hot water in 55 of the 73 units. Amenities include swimming pool, laundry and ample parking.

Gomberg Report > Connecticut Updated 8/27/2010 Click on the thumbnail picture to view larger size picture. Click on the "contact broker" link to request more information from the Broker. New Listings are labeled for the first 2 weeks Hartford County \| Fairfield County \| New Haven County \| New London County \| Windham County \| Litchfield County \| Middlesex County \| Tolland County
Hartford County
Town	Property Description	Asking Price	Gross Income	Gross Multiplier	PPU	Comments	Contact Broker
Bristol
	24 unit	2,300,000 80% Financing Available	281,964	8.16	95,833	This Historic School Building was renovated and converted to luxury apartments in 1983-84. There are a mix of large 1BR and 2BR units. Amenities include fitness center, sauna room, roof top deck with hot tub, greenhouse and grill, and beautiful entry atrium. Individual tenant paid electric HVAC. Fully sprinklered.	contact broker
	32 unit mixed-use	1,450,000 75% Financing Available	263,112	5.51	45,437	Property consists of three contiguous buildings with 26 apartments (2 studios, 10 1BR and 14 2BR) and 6 ground floor retail units. The buildings have many recent improvements including all new rubber roofs, vinyl siding replacement on all fire escapes, renovation of the common areas along with many apartment renovations. Plenty of off-street parking. Many below market rents.	contact broker
Hartford
	24 unit New Listing	1,000,000 75% Financing Available	180,600	5.53	41,666	Property consists of two adjacent apartment buildings. One building has 18 1BR units, all approx. 810 sq. ft. The other building has 6 3BR units, all approx. 1,300 sq. ft. Owner pays heat for 18 unit and tenants pay heat for 6-unit. Ample on-site parking. All windows replaced within the past two years.	contact broker
	21 unit New Listing	855,000 75% Financing Available	150,600	5.67	40,714	Property consists of two adjacent West End apartment buildings that share a driveway leading to 20 parking spaces. One building has 9 2BR units, all approx. 850 sq. ft. Tenants pay all utilities. The other building has 12 1BR units, all approx. 600 sq. ft. The owner pays heat.	contact broker
	12 unit mixed-use New Listing	550,000 75% Financing Available	100,200	5.48	45,833	Property consists of 9 2BR apts, 2 3BR apts, and one retail units. Tenants pay all utilities. Most windows have been replaced within the last two years.	contact broker
	33 unit	1,320,000 80% Financing Available	239,208	5.52	40,000	1969 three-story elevator building with 31 1BR and 2 2BR units. Twenty parking spaces and on-site super.	contact broker
	17 unit	1,150,000 80% Financing Available	147,000	7.8	67,647	Property consists of 5 2BR/1BA and 12 2BR/2BA. All of the units have central A/C, w/d hook-ups and d/w. Tenants pay all utilities. Built in 1929, the building was gut rehabbed in 1985. There is parking for 26 cars. 6 of the spaces are rented out to a nearby office for added income.	contact broker
	56 unit	2,240,000 80% Financing Available	492,000	4.55	40,000	Brick apartment building with 42 2BR, 11 3BR and 3 4BR units. High occupancy. South End location near Hartford Hospital and Colts Park.	contact broker
Manchester
	10 unit	750,000 75% Financing Available	88,935	8.43	75,000	Well maintained fully occupied brick apartment building with 6 1BR and 4 2BR units. Individual heat paid by tenants. New roof and nicely landscaped grounds.	contact broker
New Britain
	29 unit New Listing	1,400,000 80% Financing Available	225,972	6.19	1974 Apartment building with 25 studios and 4 1BR units. Major rehab done in the past two years include upgrades including new carpeting, light fixtures, appliances, bath and cabinets to 75% of the units. Also upgrades to common areas, electrical, plumbing and security systems. Tenants pay all utilities. All units have balconies. Two on-site laundry facilities for additional income.		contact broker
	15 unit	875,000 75% Financing Available	126,240	7	Fully occupied apartment building with many recent upgrades including 15 separate gas boilers, roof, windows, decks and fire system. Lead abated building.		contact broker
	44 unit mixed-use	1,400,000 75% Financing Available	277,100	5.05	Professionally managed brick building consists of 39 apartments (24 studios and 15 1BR) and 5 ground floor retail units. The property is fully rented and historically runs at a very high occupancy.		contact broker
	18 unit	1,050,000 80% Financing Available	140,400	7.48	Apartment building with 6 1BR and 12 2BR units. Updates include new rubber roof, windows and electric. Unit upgrades include many new kitchens, baths, paint and carpet. Tenants pay for heat.		contact broker
Top
Fairfield County
Town	Property Description	Asking Price	Gross Income	Gross Multiplier	PPU	Comments	Contact Broker
Bridgeport
	16 unit	1,200,000 80% Financing Available	152,700	7.86	75,000	Built in 1971 this 16 unit brick apartment building sits in a residential area. A good number of units have had many upgrades over the past 5 years. Thermo-pane vinyl windows and the roof were installed in 2006. There are 16 parking spaces. The property also has a hard-wired fire alarm system that is monitored 24 hours a day. The property is easily accessible to both I-95 and Route 8.	contact broker
	17 unit Mixed-use	875,000 75% Financing Available	165,300	5.29	51,470	Property consists of four retail stores on the first floor and 13 apartments above. Tenants pay all utilities.	contact broker
Top
New Haven County
Town	Property Description	Asking Price	Gross Income	Gross Multiplier	PPU	Comments	Contact Broker
Meriden
	24 unit mixed-use	1,390,000 75% Financing Available	190,000	7.32	57,916	Recently renovated mixed-use building located in the center of downtown. There are 4 street level retail stores and apartments above.	contact broker
New Haven
	10 unit	850,000 75% Financing Available	115,500	7.36	85,000	The property consists of all 2BR/1.5BA units. The units all have hardwood floors and the windows are new. Tenants pay all utilities and there is off street parking. 8.5% CAP	contact broker
Waterbury
	61 unit	3,789,000 80% Financing Available	471,774	8.22	Quality construction 1999 apartment complex situated on 2.8 acres. There are 5 studios, 54 1BR, 1 2BR and 1 3BR units. All new mechanicals. Separate utilities. Well maintained grounds.		contact broker
	30 unit	1,769,000 80% Financing Available	239,400	7.4	Property consists of three buildings on three separate parcels. There are 12 studios, 5 1BR and 13 2BR units. Buildings are very well maintained with numerous recent upgrades. Historic high occupancy levels.		contact broker
	56 unit	3,500,000 80% Financing Available	520,020	6.73	Apartment complex with 22 HAP based contract units and the remainders are section 8 voucher units for a complete elderly based complex consisting of 7 buildings. This garden style, elderly housing complex has a historical occupancy at or close to 100% with extremely low turnover. The property is well groomed and tucked away in a residential setting on a dead end road. Built in 1972, the buildings have little to no deferred maintenance scoring a 94B on the last REAC inspection. New vinyl siding for worry free exterior and building on slab combine for easy routine maintenance. Electric baseboard heat with certain energy saving steps enables the owner to have the comfort of limited mechanicals to hedge against increasing utility cost.		contact broker
	27 unit mixed-use	1,400,000 75% Financing Available	280,356	5	Located in the heart of downtown this property consists of 21 apartments (3 1BR, 16 2BR, 2 3BR) and 6 ground floor retail units with long term tenancy, including a very successful Bar and Grill.		contact broker
Top
New London County
Town	Property Description	Asking Price	Gross Income	Gross Multiplier	PPU	Comments	Contact Broker
Jewett City
	10 unit	699,000 80% Financing Available	105,032	6.66	Apartment building consists of 4 1BR, 2 2BR and 4 3BR townhouses. Recent improvements include newer windows, front and rear decks, roof, 200 amp electric, laundry facilities and pavement. Situated on dead end road in attractive neighborhood. High occupancy history and many long term tenants. Ample off-stree parking.		contact broker
New London
	Office Bldg.	1,800,000 Financing Available	355,000	5.07	Four contiguous buildings/one integrated complex. Class A&B offices . Strategically located near Pfizer and Shaw's Cove Office Park. Easy access to I-95.		contact broker
Norwich
	8 unit	725,000 75% Financing Available	92,273	7.86	90,625	This property consists of one Class A- office and five large 2BR and two 1BR apartments with plenty off street parking. The property consists of a long-term doctors office having about 1674 sq. ft. on the ground floor. This area provides a waiting room having wall-to-wall carpeting, suspended ceiling, carpeted office, four exam rooms, a public restroom and a second waiting room. There is a private area in the west section of the building encompassing the doctor's personal office including a lab, kitchenette and private restroom.	contact broker
Top
Windham County
Town	Property Description	Asking Price	Gross Income	Gross Multiplier	PPU	Comments	Contact Broker
Danielson
	12 unit	800,000 75% Financing Available	98,760	8.1	66,666	This apartment bldg. consists of all 2BR townhouses with plenty of off-street parking. The property has been almost completely renovated and is ready for present or future condo conversion. Situated on a dead end road in an attractive neighborhood, high occupancy and long-term tenants are the norm. Little to no deferred maintenance,	contact broker
Plainfield
	14 unit	999,000 80% Financing Available	136,800	7.3	71,371	This property consists of 3 wood frame buildings located on 1.2 acres. The property contains 3 1BR, 3 2BR, 4 2BR townhouses and 4 3BR units. Fully rented with ample parking, as well as, a garage on-site. Many capitol improvements include, but are not limited to, thermal pane windows and vinyl siding throughout all three buildings, 2 of the three roofs are brand new, newer driveway, almost all individual hot water tanks replaced, updated coin-op laundry, updated cabinets, as well as, updated kitchens.	contact broker
Top
Litchfield County
Town	Property Description	Asking Price	Gross Income	Gross Multiplier	PPU	Comments	Contact Broker
Torrington
	30 unit mixed-use	995,000 75% Financing Available	229,095	4.34	33,166	3-story 39,000+ sq. ft. brick building with 20 apartments and 10 stores. All apartments are 3BR 1,100 sq. ft. units. All stores are street level and also 1,100 sq. ft. units. Reduced price.	contact broker
Top
Middlesex County
Town	Property Description	Asking Price	Gross Income	Gross Multiplier	PPU	Comments	Contact Broker
Cromwell
	6 unit	530,000 75% Financing Available	66,000	8.03	88,333	Well maintained Six-Family with all 2BR units, including one 2-story townhouse style. All separate utilities. Updates include new windows, kitchens and baths. Long term tenants.	contact broker
Middletown
	12 unit	750,000 75% Financing Available	114,480	6.55	62,583	Fully occupied and well maintained vinyl-sided apartment building consisting of 4 1BR and 8 2BR units. Recent upgrades to kitchens, floors, cabinets, counters, appliances and a new parking lot.	contact broker
Top
Tolland County
Town	Property Description	Asking Price	Gross Income	Gross Multiplier	PPU	Comments	Contact Broker
Vernon
	73 unit	4,490,000 80% Financing Available	669,144	6.71	61,506	Fully occupied 1965 apartment complex situated on 10 acres. There are four garden style buildings consisting of 42 1BR and 31 2BR units. Tenants pay all utilities including heat and hot water in 55 of the 73 units. Amenities include swimming pool, laundry and ample parking.	contact broker
Top