Multifamily Property for Sale
Northeast Private Client Group is pleased to present the Park Circle Apartments, a 14 unit multifamily property located in Milford, Connecticut.
The Park Circle Apartments are made up of two adjacent parcels including 1 Park Circle and 12 Edgewood Avenue. Park Circle is comprised of 12-one bedroom apartments and Edgewood Avenue, a two family home, with 1-two bedroom and 1-three bedroom apartment. Each building has a brand new central natural gas boiler which is paid for by the landlord. Tenants are responsible for their own electric expense. The buildings have undergone significant improvements over the years with every unit being renovated, updates were made to the common areas and about 50% of all the windows were replaced. The Park Circle building is also fitted with a fire monitoring system. Tenant amenities include off street parking and an onsite laundry room.
The property is located less than a mile from Milford’s thriving downtown which offers shopping, restaurants and many activities. Seventeen miles of Long Island Sound funnel into Milford’s harbor and it is home to the second longest town green in New England. The town is the sixth oldest in Connecticut and boasts approximately 50,000 residents. A new investor can realize upside by continuing to increase rents to market levels.
Milford, New Haven County, CT