A New Haven-based real estate investor has added another multifamily property to his Norwalk portfolio.
Yoseph Katz, of 6 Elm Street Holdings LLC, bought the three-building, 12-unit, 12,000-square-foot apartment complex at 6 Elm St., for $1.95 million.
The sellers were Anthony C. and Elise Tomas, of 6 Elm Street Associates LLC, who originally purchased the property in 2011 for $1.1 million, according to city records.
The sale was recorded by the city on Nov. 27.
The complex features a six-unit brick apartment building built in 1967, and four-unit and two-unit buildings, both dating back to 1900.
The property has a total appraised value of $1.75 million.
Northeast Private Client Group Senior Vice President Brad Balletto, and Senior Associates Rich Edwards and Jeff Wright represented the seller and procured the buyer in the deal.
Katz plans to renovate the buildings, including a conversion of the central heating system to individual metering, Northeast Private Client Group said. Earlier this year, Katz bought another Norwalk multi-unit building for more than $2 million.
Edwards said the property yielded multiple bids, given the lower Fairfield County location, upside potential, and smaller deal size.
“Despite the sharp rise in interest rates, lower Fairfield County multifamily continues to prove to be desirable and in high demand,” he said.
