June 1, 2022
Rick Chozick closes on The Forest Apartments, 19 units in West Hartford, CT for a sales price of $3,351,000 ($176,368.42/unit).
Located in the highly affluent and highly sought-after community of West Hartford, the complex is an elevatored building with exceptionally sized apartments, which have been under the same family ownership for many decades. The unit mix is comprised of 2 studio, 4 one-bedroom, 12 two-bedroom and 1 three-bedroom apartments, most of which have 1 & 1/2 bath
Rick Chozick remarked while offering a turnkey investment, having been under the same ownership for multiple decades, this property still affords the opportunity for significant upside rental growth through unit renovations such as granite counters, stainless steel appliances and new kitchen and bath finishes.
This sale was made through an open market bid for the highest and best offer. Chozick Realty, Inc., represented the seller in the transaction while also procuring a buyer to complete the transaction.