Hillside Farms Apartments

  • Title

    Multifamily Property

  • City

    Amston, CT

  • Price

    $2,080,000

  • Cap Rate

    6.8%

  • Gross Leasable Area

    27,616 SF

  • No. Units

    32

  • Price/SF

    $75.32

  • Price/Unit

    $65,000

  • No. Stories

    2

  • Year Built

    1970

Not found amenities.

Northeast Private Client Group is pleased to present the Hillside Farms Apartments, a 32 unit multifamily property located in Amston, Connecticut

Hillside Farms is comprised of 32, two bedroom units. The complex has 4 buildings on 16 acres of land. Throughout the duration of ownership, the property has undergone significant capital improvements including vinyl siding, new roofs, windows and an updated water system. Heat and hot water is tenant paid and supplied through electric units. Unique to this rural area, the property is hooked up the city’s sewer system. The property also has an onsite laundry facility and two garage bays for added income potential.

A new investor can add value through interior unit renovations and raising rents to market levels. The property is located in a quiet residential neighborhood which alludes to its historically high occupancy level.

Amston, Connecticut is a sub-section of Hebron and is located in Tolland County. Amston has a median household income of over $110,000, well surpassing the US average. Along with a high household income, 96.4% of the population over 25 years old has a high school degree and 51% of that demographic holds a Bachelor’s degree or higher. The town of Hebron is described as a “quaint Connecticut town” that offers a quality of life that is, “unsurpassed from its mixture of colonial style and contemporary architecture”. With access to Route 66 and Route 2, Amston offers an easy commute to Hartford as well as the University of Connecticut.

 

Amston, Tolland County, CT