June 22, 2022
A mixed-use, seven-building apartment portfolio in the South End of Hartford recently sold for $3.5 million.
With a total of 47 apartments, the sale price equates to $77,778 per unit.
The properties — 47 Franklin Ave., 97-103 Maple Ave., 36 Whitmore St., 38-40 Whitmore St., 15 Whitmore St., 43-45 Franklin Ave. and 222-224 Maple Ave. — were purchased by SREP Southend LLC, which is controlled by Stanton Real Estate Partners in West Hartford.
The seller was Hartford-based Marconi Enterprises, controlled by Filadelfo Ossino.
Jordan Pinto of Chozick Realty Inc. arranged the sale.
The buildings were constructed in the 1920s and are located on main arterial routes near the Connecticut Children’s Center.
According to Chozick Realty, the apartments were well managed for decades, but the new owners are planning improvements to the properties, including upgrades to the kitchens and bathrooms.
Most of the apartments contain two bedrooms, which Pinto said are in high demand.
Chozick Realty represented the seller in the transaction and procured the buyer. The sale was recorded on June 22.