905 Lofts Listing Details & Market Data

East Hartford is a town located in Hartford County, Connecticut, in the United States. As of the 2020 Census, the population of East Hartford was approximately 50,000 people. The town covers an area of around 18 square miles and is located on the east bank of the Connecticut River, across from the city of Hartford. East Hartford is home to several notable landmarks and attractions, including Rentschler Field, a football stadium that serves as the home field of the University of Connecticut Huskies football team, Pratt & Whitney Stadium at Rentschler Field, which hosts various concerts and events, and the Goodwin College campus, which offers a variety of undergraduate and graduate programs. The town is also home to a diverse range of businesses and industries including aerospace, healthcare, education, and technology. Major employers in East Hartford include Pratt & Whitney (Raytheon Technologies $RTX), Goodwin College, and Hartford Hospital. East Hartford has a strong transportation infrastructure, with easy access to Interstate 84 and Interstate 91, as well as Bradley International Airport. The town also offers a variety of public transportation options, including buses and trains. In terms of education, East Hartford is served by the East Hartford Public Schools, which operates several elementary, middle, and high schools. The town is also home to several private schools, including East Catholic High School and St. Christopher School. Overall, East Hartford is a diverse and dynamic community with a strong economy, excellent transportation options, and a range of educational and recreational opportunities.Northeast Private Client Group® is pleased to present the 905 Lofts, an 80-unit luxury apartment complex located in East Hartford, Connecticut. The property is comprised of 60 – one bed, 12 – two bed, one bath, 6 - two bed, two bath & 2 – three bed, two bath units. The property is heated by a newer central natural gas fired boiler system. The hot water for the property is also provided by a separate natural gas fired boiler system. 7 of the 80 units were newly built and feature individual mini-split heat and air conditioning systems which the tenants are responsible for. Electric for all units is separately metered and paid for by the tenants. 905 Lofts has undergone a full building renovation over the past 10 years to include luxury apartment interiors, common areas, mechanicals, roof, parking lot, and lobby. The building features many tenant amenities including multiple laundry facilities, community room, elevator (4 floor access), pool with updated patio, dog park, walking trails, river views, and ample parking. The property is located just minutes from the Manchester/East Hartford town line. Tenants can enjoy nearby Wickham Park, a 250- acre public park. The park features numerous gardens, including an English Garden, a Sensory Garden, and an Oriental Garden, as well as several miles of walking trails, picnic areas, and playgrounds. 905 lofts are conveniently located near three major interests inclusive of I-84, I-384 and I-291. It is also just 4 miles from nearby Buckland Hills Mall and The Promenade Shops at Evergreen Walk, making it a central location to many restaurants, shops, breweries, and grocery stores. 905 Lofts offers a new owner the opportunity to acquire a turn-key property with nearly zero deferred maintenance or capex risk, with simple opportunities to meaningfully increase revenue. There remains $175/month across all units in remaining upside through marking current rents to market. Additionally, a new owner can continue low- cost (<$1,000/unit), high-impact bathroom upgrades to harvest an additional $50/month rent premium.