1079 Broad Street
Multifamily | 7.63% CAP | 6 Units
Marketing description
Horvath & Tremblay is pleased to present the sale of the multi-family investment property located at 1079 Broad Street in Meriden, Connecticut (the "Property"). The Property is improved by a three-story multi-family building and contains six (6) residential units comprised of one (1) Studio unit, two (2) 1-Bedroom/1-Bathroom units and three (3), 2-Bedroom/1-Bathroom units with 4,153 square feet of living area in 6,222 square feet of total area on a 0.23-acre parcel of land.
The Property is well-located along Broad Street (US Route 5), the area's primary commercial and commuter corridor. The building is approximately 1-mile from Downtown Meriden, is close to a number of retail, dining, and entertainment amenities, and offers convenient access to area highways, public transportation, local schools, and major area employers in Meriden and along the Interstate 91 corridor. Additionally, the Property offers convenient access to Waterbury, New Britain and Middletown.
Investment highlights
CONVENIENT LOCATION
The Property is situated along Broad Street (US Route 5), one of the area's primary commercial and commuter corridors, which offers public transportation along the municipal bus line and features countless retailers, restaurants and lifestyle amenities.
Area highways are conveniently located near the Property including US Route 5, Interstate 691 (0.4-miles), Interstate 91, the Wilbur Cross Parkway (CT Highway 15) and CT Route 66. The Property is along the municipal bus line and 1.2-miles from the Meriden Train Station. Downtown Meriden is approximately 1-mile from the Property.
The Property is within 1.5-miles of the Meriden Mall and Target and is convenient to several commercial clusters along Broad Street and East Main Street. These commercial corridors are home to big box retailers, grocery stores, and nationally branded restaurants. The Property is also just 1.3-miles from the Midstate Medical Center (hospital).
1079 Broad Street is close to several schools, including three elementary schools, two middle schools, Francis Maloney High School, HC Wilcox Technical High School, and Orville Platt High School.
STRONG RENTAL DEMAND
1079 Broad Street is well-positioned within Meriden, a centrally located Hartford-New Haven corridor community benefiting from sustained rental demand driven by its relative affordability, commuter accessibility, and diverse employment base.
Meriden's proximity to major employers in healthcare, manufacturing, logistics, education, and government supports a broad and stable tenant base.
These attributes contribute to a strong live-work-play environment and support long term rental fundamentals.
SEPARATE UTILITIES
Each unit is separately metered for electricity, gas fired heat, and gas fired hot water which the tenants pay directly. The landlord is responsible for common area electric and domestic water and sewer.
AMENITIES & PARKING
The Property has been well maintained and the building features new individual heating systems for each unit.
4 units have a private patio or balcony.
The Property offers 4+ off-street parking spaces for residents.
More than 13,800 people live within 1 mile of the Property with an average household income of $85,091. An impressive 56,300 people live within 3 miles of the Property with an average household income of $95,225.
STRONG DEMOGRAPHICS & DEMAND
More than 13,800 people live within 1 mile of the Property with an average household income of $85,091. An impressive 56,300 people live within 3 miles of the Property with an average household income of $95,225.
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