55 MARKET ST New Britain CT 06051-2150

Horvath & Tremblay is pleased to present the sale of the multi-family investment property located at 55 Market Street in New Britain, Connecticut (the “Property”). The Property consists of a three-story, brick building containing six (6) 2-Bedroom/1-Bathroom units in 5,568 square feet of living area, in 7,991 total square feet, on a 0.15-acre parcel. The Property includes ample off-street parking behind the building.

55 Market Street is well-located in a residential neighborhood in eastern New Britain with convenient access to area highways, public transportation and retail amenities. The Property is also located just 2 miles from Central Connecticut State University and 11 miles from Downtown Hartford.

THE ASSET

55 Market Street consists of a three-story, brick building containing six (6) 2-Bedroom/1-Bathroom units in 5,568 square feet of living area, in 7,991 total square feet, on a 0.15-acre parcel.

CONVENIENT LOCATION

The Property is well-located in eastern New Britain. The location offers convenient access to CT Route 9, CT Route 72 and Interstate 84. CT Transit bus transportation is available on Market Street just 233 feet from the Property.

55 Market Street is just over a mile from downtown New Britain, with amenities including Price Rite, CVS, Walgreens, a variety of restaurants and bars, and CT Fastrak’s New Britain Station, which opened in 2015 and serves as a central hub for local and express bus services throughout the region.

The Property is located just 2 miles from Central Connecticut State University.

SEPARATE UTILITIES

Each unit is separately metered for electricity and gas heat, which the Tenants pay directly.

ON-SITE PARKING

The Property includes ample off-street parking behind the building.

STRONG DEMOGRAPHICS

An impressive 173,900+ people living within 5 miles of the Property with an average household income of $92,113.

UPSIDE POTENTIAL

In-place leases are significantly below market rates; the opportunity exists to upgrade the unrenovated unit interiors to drive rental rates in an urban-infill, high demand/supply-constrained residential market. Five out of the six units are leased on a month-to-month basis, allowing for rents to be raised significantly to drive income at the Property.