A Hartford apartment complex with 21 rental units has sold for $1.9 million. The property, at 44 Prospect Ave., sold on June 12 to 44‑46 Prospect Realty LLC. The limited liability company is not registered in state records. The seller was Carvalho IV LLC, which is controlled by Armando Carvalho, who lists a West Hartford […]
A Hartford apartment complex with 21 rental units has sold for $1.9 million.
The property, at 44 Prospect Ave., sold on June 12 to 44‑46 Prospect Realty LLC. The limited liability company is not registered in state records.
The seller was Carvalho IV LLC, which is controlled by Armando Carvalho, who lists a West Hartford business address.
Carvalho originally purchased the 1964-vintage apartment building in 2009 for $800,000.
Hartford-based Chozick Realty Inc. brokered the deal.
The sales price equated to $90,476 per unit.
The property has had a historical occupancy level at or close to 100%, according to Chozick Realty.
“The offering attracted significant investor interest due to its stable occupancy, ... and the potential for upside through unit renovations and rent increases,” Chozick Realty said. “With rents below current market levels, buyers identified the opportunity to enhance value through interior upgrades.”
