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$40,000,000
Est. payment /mo
6 Beds
3 Baths
99,713 SqFt
UPDATED:
12/11/2024 06:59 AM
Key Details
Property Type Multi-Family
Sub Type 5 Family+
Listing Status Active
Purchase Type For Sale
Square Footage 99,713 sqft
Price per Sqft $401
MLS Listing ID 24037027
Style Units on different Floors,Units are Side-by-Side
Bedrooms 6
Full Baths 3
Year Built 1977
Annual Tax Amount $588,307
Lot Size 46.600 Acres
Property Description
Rare opportunity to acquire 189 luxury residential units in Avon! Set across 46.6 expansive acres, this prime location is adjacent to vibrant Route-44, providing effortless access to all local amenities. Seamlessly connected to Avon Mountain, there is a direct path from Avon to West Hartford and other bustling towns, yet it maintains a tranquil, suburban ambiance. The property has: (102) 1 Bed, (78) 2 Bed and (9) 3 Bed units. Spacious layouts range from 925SF up to an impressive 1324SF, each featuring a private balcony or patio.The asset is at 92% Occupancy currently. Originally built in 1977, these three-story assets are undergoing extensive upgrades to both units and common area upgrades (~80 units renovated & $3.5M invested into buildings). Residents enjoy amenities such as a swimming pool with cabana and sun deck, two tennis courts, picnic areas and scenic walking trails enriching their lifestyle experience at Avon Woods. These units are poised to command premium rental rates, reflecting the strong demand for upscale living In this affluent area. There is also an option for an expansion package for an additional $12,000,000 (MLS 24037298). This opportunity includes approved plans for a 250 unit expansion including 2 new, four-story buildings totaling 196 units. Enhanced amenities will feature a new pool and clubhouse, expansive patio and pavilion, basketball courts, picnic areas, grilling stations, walking trails, and ample outdoor parking for residents and guests.
Location
State CT
County Hartford
Zoning RU2A
Rooms
Basement Full
Interior
Heating Baseboard
Cooling Wall Unit
Exterior
Parking Features None
Pool In Ground Pool
Waterfront Description Not Applicable
Roof Type Asphalt Shingle,Gable
Building
Lot Description Lightly Wooded, Level Lot
Foundation Concrete
Sewer Public Sewer Connected
Water Public Water Connected
Schools
Elementary Schools Per Board Of Ed
High Schools Per Board Of Ed
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Listed by Lisa Cozzi • Berkshire Hathaway NE Prop.
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