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Multifamily

Middletown Ridge

Middletown, CT

238 Units

Built in 1988

Value Add

Investment Highlights

  • Significant Value-Add Opportunity: ±$110,000 in "light lift" renovation upside in addition to ±$619,000 in annual, organic, as-is loss-to-lease upside on current, in-place attained rent
  • Strong In-Place Stable Cash Flow and Positive Revenue Trends: 9.8% new leases and 9.4% renewals
  • Excellent Dual-Commuter Location: Highly desirable Westlake District location with immediate access to Interstate 91, Hartford to the North, and New Haven to the South
  • Middletown Ridge and Middletown Brooke are offered individually or as a 518-unit portfolio.

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