Colchester Estates | 12 Balaban Rd
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Colchester Estates 12 Balaban Rd
92 Unit Apartment Building $18,500,000 ($201,087/Unit) Colchester, CT 06415
Investment Highlights
- Assumable Financing at 2.91% Interest Only
- Immediate Scale
- Opportunities to Increase Revenue and Decrease Expenses
- Significant Recent Capital Expenditures
- All-townhome Garden Style Property
- On-site Leasing Office, Playground, Dog Park, EV Chargers, Picnic Area
Executive Summary
Northeast Private Client Group is pleased to present the exclusive opportunity to purchase The Colchester Estates in Colchester, Connecticut. This property consists of ninety-two (92) two-bedroom/one bathroom units. These ninety-two (92) units span 81,227 square feet. The offering is located on one (1) 26.44 acre parcel.
Over the past five years, the property has benefited from a complete redevelopment. Work includes
bringing all apartments to a renovated status. Which include hardwood flooring, shaker cabinetry, stone
countertops, new appliances, tiled bathrooms, and more. The exterior improvements include new roofs,
hardscaping, landscaping, basketball court and picnic area, playground, dog parks, gated entry,
mailboxes, doors, EV charging stations, and asphalt repairs. Systems upgrades include new wells and
water treatments systems, septic systems, generators, and an oil sub-metering system to bill tenants for their heating usage.
Additional work completed by current and previous ownership includes new water system and wells, new septic system, new hardscaping, new landscaping and picnic areas, new EV charging stations, new mail center, and new gated parking.
Strategically located 2-miles away from Rt. 2, in the town of Colchester, the Property benefits from being in easy commuting distance to Hartford and Lower New London County. Colchester's Town Center, only 2.5 miles away, offers a great destination for residents to enjoy restaurants and shops.
Over the past five years, the property has benefited from a complete redevelopment. Work includes
bringing all apartments to a renovated status. Which include hardwood flooring, shaker cabinetry, stone
countertops, new appliances, tiled bathrooms, and more. The exterior improvements include new roofs,
hardscaping, landscaping, basketball court and picnic area, playground, dog parks, gated entry,
mailboxes, doors, EV charging stations, and asphalt repairs. Systems upgrades include new wells and
water treatments systems, septic systems, generators, and an oil sub-metering system to bill tenants for their heating usage.
Additional work completed by current and previous ownership includes new water system and wells, new septic system, new hardscaping, new landscaping and picnic areas, new EV charging stations, new mail center, and new gated parking.
Strategically located 2-miles away from Rt. 2, in the town of Colchester, the Property benefits from being in easy commuting distance to Hartford and Lower New London County. Colchester's Town Center, only 2.5 miles away, offers a great destination for residents to enjoy restaurants and shops.
Property Facts
| Price | $18,500,000 | Building Class | C |
| Price Per Unit | $201,087 | Lot Size | 21.48 AC |
| Sale Type | Investment | Building Size | 119,382 SF |
| No. Units | 92 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1975/2020 |
| Property Subtype | Apartment | Parking Ratio | 9.64/1,000 SF |
| Apartment Style | Garden |
| Price | $18,500,000 |
| Price Per Unit | $201,087 |
| Sale Type | Investment |
| No. Units | 92 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 21.48 AC |
| Building Size | 119,382 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1975/2020 |
| Parking Ratio | 9.64/1,000 SF |
Unit Amenities
- Dishwasher
- Heating
- Ceiling Fans
- Hardwood Floors
- Stainless Steel Appliances
- Basement
Site Amenities
- Laundry Facilities
- Playground
- Basketball Court
- Pet Play Area
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 92 | - | 850 |
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PROPERTY TAXES
| Parcel Number | COLC-000004W-000005-000017 | Improvements Assessment | $7,019,800 |
| Land Assessment | $1,657,500 | Total Assessment | $8,677,300 |
PROPERTY TAXES
Parcel Number
COLC-000004W-000005-000017
Land Assessment
$1,657,500
Improvements Assessment
$7,019,800
Total Assessment
$8,677,300
zoning
| Zoning Code | R (Residential) |
| R (Residential) |
Contacts
-
Edward Jordan -
Bradley Balletto -
Rich Edwards -
Jeff Wright -
Chris Bierezowiec -
Northeast Private Client Group
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Colchester Estates | 12 Balaban Rd
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