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shford Hills Apartments, a 52-unit multifamily property in Ashford, Connecticut, is being exclusively marketed by Northeast Private Client Group. The asset offers significant value-add potential and presents a rare opportunity for investors to acquire a stabilized community with strong fundamentals.

    Located just 10 minutes from the University of Connecticut, Ashford Hills benefits from a strategic location and strong local demand. The property is situated in a supply-constrained area, driving rental stability and long-term growth potential. With an average rent of $1,416 and a pro forma rent of $1,575, new ownership can leverage a mark-to-market strategy to elevate income.

    The seller has invested over $600,000 in capital improvements, including a brand-new roof, security camera installation, and LED lighting upgrades. Of the 52 units, 28 have been renovated, with 8 receiving premium-level interior finishes. This provides a clear blueprint for future unit upgrades.

    Key investment highlights include:

    * Sale price: $8,675,000

    * Price per unit: $166,827

    * Cap rate (in-place): 6.75%

    * Pro forma cap rate: 7.99%

    * Building size: 48,960 SF

    * Average highest achieved rent: $1,553

    With historically strong occupancy rates and upward pressure on market rents in the region, Ashford Hills Apartments offers a compelling investment narrative. Investors can continue unit renovations, push rents to pro forma levels, and enhance NOI with limited additional capital outlay.