Steve Witten and Victor Nolletti of New Haven- based Marcus & Millichap Real Estate Investment Services have arranged the sale of Fernwood Apartments and Westridge Apartments - 129 units for $6.074 million.
Fernwood Apartments at 44-46 Camp St. in Middletown is a 96-unit suburban garden-style apartment community located in Middlesex County. The property consists of 2 detached 3-story apartment buildings constructed in 1968. The complex is comprised of 60 one-bedroom units (700 s/f) and 36 two-bedroom units (850 s/f). The property features spacious units with hardwood and/or carpeting, tiled bathrooms, gas stoves, ample on-site parking and laundry facilities. Heat and hot water are included in the rent and provided by central gas-fired hot water boilers. Fernwood is roughly ten minutes from downtown Hartford, 20 minutes to New Haven and has been well maintained. Fernwood closed at $5.018 million.
Westridge Apartments at 270 High St. in Torrington is a well maintained 33- unit brick apartment building located in highly desirable Litchfield County. The complex includes 22 one-bedroom units (650 s/f), 9 two-bedroom units (850 s/f) and 2 three-bedroom units (925 s/f) with 23,800 s/f of net rentable area. The property was constructed circa 1960 and has been meticulously maintained. Westridge closed at $1.056 million.
The seller was Hunter Realty, LLC and the buyer is CT Metro Holdings I & II, Corp.