132 Main St New Britain, CT 06051

This exceptional 28,475 square foot multifamily investment opportunity, known as The Andrews, presents a compelling proposition for discerning investors. Recently completed, a multi-million dollar renovation transformed this historic Beaux Arts building into 20 luxurious one-bedroom apartments, generating a robust net operating income of $460,000. Each apartment boasts smart technology, keyless entry, sophisticated finishes, and black/stainless steel appliances. Building amenities include an elevator and laundry facilities, complemented by convenient EV charging stations in the parking lot. Located in the revitalizing downtown New Britain, CT (zip code 06051, 132 Main St), this property benefits from its proximity to major transportation arteries, including Routes 9 and 72, and the CTfastrak station. The thriving downtown area offers a diverse selection of restaurants, shops, and arts venues, catering to residents' needs and enhancing the property's appeal. The strong local economy, supported by significant public and private investments, including the CTfastrak system and the New Britain Energy and Innovation Park, ensures a robust rental market. Within a 5-mile radius, a population of 158,832 enjoys an annual consumer spending of $1.9 billion, further bolstered by 103,284 daytime employees. The high percentage of renters (over 50% within a 3-mile radius) underscores the consistent demand for rental units. Furthermore, the ongoing development of new mixed-use projects, including The Strand, The Brit, and The Highrailer, will further enhance the area's desirability and contribute to long-term value appreciation. This is a rare opportunity to acquire a high-performing asset in a dynamic and growing market.