For Sale
$40,000,000

64 Avonwood RdAvon, CT 06001

Luxury Apartments, High Occupancy, Expansion Potential

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a rare chance to acquire a 189-unit Class A multifamily property in Avon, Connecticut. Situated on 46.6 acres adjacent to Route 44, this three-building complex offers 99,713 square feet of living space, boasting a mix of 102 one-bedroom, 78 two-bedroom, and 9 three-bedroom units ranging from 925 to 1324 square feet. Currently operating at 92% occupancy, the property underwent extensive renovations in 2024, including approximately 80 units and common area upgrades, totaling $3.5 million in investment. Residents enjoy amenities such as a swimming pool, tennis courts, picnic areas, and walking trails. Priced at $40,000,000 ($401.15/sq ft and $211,640.21/unit), this property also includes approved plans for a 250-unit expansion, adding two four-story buildings with enhanced amenities, including a new pool and clubhouse. The expansion, priced at an additional $12,000,000, will incorporate 20% affordable housing units and is projected to increase current tenant rent by approximately $75 per month due to the amenity upgrades. The current ownership team is open to managing the expansion project. The property features 394 parking spaces and is located at 64 Avonwood Rd, Avon, CT 06001.

Highlights

  • Prime Class A location.
  • High-end location with significant expansion potential.
  • $3.5M in recent renovations.
  • 250-unit expansion approved, available for acquisition.

Property Details for 64 Avonwood Rd

Property type
Apartment buildings
Square Feet
99,713 SF
Class
A
Year Built/Renovated
1977/2024
Buildings
3
Stories
3
Units
189

Location Insight

City
Avon
County
Hartford
State
Connecticut
Latitude
41.799924
Longitude
-72.8199899
64 Avonwood Rd, Avon, Connecticut

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
64 Avonwood Rd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message