Investment Overview

MARCUS & MILLICHAP is pleased to present the exclusive opportunity to acquire FAIRVIEW and OAKWOOD, a 37-unit, 100% market-rate, two-property apartment portfolio in the high performing city of West Hartford – one of the Northeast’s most desirable rental markets. 34 Fairview Street (22 units) and 45 Oakwood Avenue (15 units) are two well maintained, value-add assets located one-half mile from each other. The properties are very well kept and have undergone significant capital upgrades. Most recent rents achieved are ±10% above current in-place average rents. Initially constructed in 1964 and 1965, respectively, 34 Fairview Street and 45 Oakwood Avenue have received numerous upgrades in recent years. By harvesting loss-to-lease, a new owner can substantially drive revenue at Fairview and Oakwood. Further upside is possible with additional modest unit and common area enhancements. West Hartford has achieved ±30% organic rent growth over the last four to five years. These assets provide a terrific opportunity to acquire quality, well-kept, market-rate B value add housing in an outstanding location.