Main Street Apartments

Investment Overview

NortheastPCG, Inc. is pleased to present 613-615 Main Street, a 9-unit multifamily property in the heart of Ridgefield, CT. Ridgefield is one of Fairfield County’s most affluent and tightly held towns, and the property fits that profile. The nine units — a mix of townhouse and flat style residences, all two-bedrooms — sit on a well-landscaped half-acre lot. It’s the kind of asset that’s genuinely hard to replicate: a simple, consistent unit mix in a location that keeps demand steady through every market cycle. The units are designed to keep operating costs predictable for ownership. Tenants are responsible for their own heat, supplied by propane furnaces, as well as their own electric hot water and common-area electric. Water is separately metered for every unit and billed back to the residents. Each home comes with an in-unit washer and dryer, there’s ample on-site parking, and the grounds are nicely maintained year-round. Just as important, the property sits within walking distance of downtown Ridgefield and everything the town has to offer. The affordability component is one of the property’s defining and most defensible features. 613 Main Street was originally developed under Connecticut General Statute 8-30g, and it’s now roughly 16 years into a 40-year restriction — leaving about 24 years remaining, with an estimated expiration around 2050. Importantly, only three of the nine units carry affordability restrictions — two at 60% of State Median Income and one at 80% — while the remaining six operate at full market rents. That set-aside provides steady, mission-aligned income today and a long runway before the restricted units eventually revert to unrestricted market rents.

Investment Highlights

• Newer 2012 Construction — Clean, uniform layout of townhouse and flat style residences on a well-landscaped half-acre lot
• Consistent Unit Mix — All nine units are two-bedrooms with in-unit washer/dryer and ample on-site parking
• Predictable Operating Costs — Tenants pay propane heat, electric hot water, and common-area electric; water billed back to residents
• Prime Downtown Location — Walking distance to Ridgefield’s Main Street in one of Fairfield County’s most affluent, tightly held towns