Chozick Realty Brokers $4.6 Million Sale of Garfield Avenue Apartments in New London, CT
Chozick Realty, Inc. has facilitated the $4.6 million sale of Garfield Avenue Apartments, a 38-unit property in New London, CT. The sale price of $121,052 per unit reflects the property's strong location near major employment centers. The complex, comprised of two three-story buildings with all one-bedroom apartments, has potential for rental growth due to sustained economic expansion in the area.
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Chozick Realty, Inc. has arranged the sale of Garfield Avenue Apartments in New London, CT, for $4.6 million, equating to $121,052 per unit. The 38-unit property consists of two three-story brick buildings, exclusively featuring one-bedroom apartments.
Its location near key employment centers, such as General Dynamics Electric Boat and the U.S. Navy Submarine Base, has significantly contributed to its value. The New London area is experiencing economic growth due to substantial federal defense investments, increasing investor demand for multifamily properties.
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