286 S ELM 24 PARSONS & 219 S ORCHARD ST Wallingford CT 06492

Northeast Private Client Group is pleased to present the exclusive opportunity to purchase Wharton & Parsons apartments in Wallingford, Connecticut. Wharton & Parsons Apartments is a two-property, 42-unit value-add multifamily portfolio located in Wallingford, CT. 17 units remain unrenovated, allowing a new owner to capture significant renovation premium. On average, leased rents are $400/month below market rents achieved at comparable properties nearby. A new owner can capture this upside by renovating the remaining units and marketing current rents. The two properties are located less than a half mile from each other and are within walking distance to Wallingford's vibrant downtown with shopping, entertainment, dining, breweries, and nightlife.

Wharton arms is a 25-unit all-townhouse garden-style property built in 1965 located at 286 south elm street. All units feature two-bedroom, one-and-a-half bath, two-story units with full private basements. All units feature washer-dryer hookups and tenant paid heat, hot water, electric and central air. The property features a park-like setting on 3.87 acres and ample parking.

Parsons apartments is comprised of a 12-unit brick building built in 1964 located at 24 parsons street, and an abutting five-unit frame building located at 219 south orchard street. All units at 24 parsons are large two-bedrooms and feature washer-dryer hookups and tenant paid heat, hot water, electric and central air. Both 24 parsons and 219 south orchard feature off-street parking. 219 south orchard is a double-wide lot and there may be some potential for future development.

Wharton & parsons apartments features accretive financing cross-collateralized with the cove collection. The financing may be assumable if the property is purchased as a portfolio with the cove collection. Wharton & parsons apartments is available individually or as a portfolio with the cove collection and/or colchester estates.

• Value-add opportunity
• Large two bedroom flat & townhouse style apartments
• Accretive assumable financing
• Attractive property and unit features:
• Tenant paid utilities
• Washer-dryer hookups
• Off-street parking
• Central air conditioning
• Great location & demographics
• Available individually or as a portfolio with the cove collection and/or colchester estates