164-170 Oak Street

Investment Overview

Northeast Private Client Group, Inc. is pleased to present 164-170 Oak Street, a ten-unit multifamily offering in Manchester, Connecticut. The offering consists of two neighboring buildings on separate parcels that together total just over a half-acre, with a shared off-street parking lot behind the buildings. 164 Oak Street is a two-story four-family built in 1900, with four one-bedroom apartments. 168 Oak Street is a two-and-a-half-story, six-unit building built in 1923, with four two-bedroom and two one-bedroom apartments. Combined, the property has roughly 8,500 square feet of living area: six one-bedrooms and four two-bedrooms. Each apartment is separately metered for electricity, and tenants pay their own electric expense. Each building also has its own house meter. At 164 Oak Street, a central gas-fired boiler provides baseboard heat and a central water heater supplies hot water, with the landlord paying the heat and hot water expense. At 168 Oak Street, each apartment has electric baseboard heat and electric hot water, with tenants paying both. 164-170 Oak Street offers a new owner the chance to acquire ten units across two small multifamily buildings, with in-place rents below market and a clear path to higher income as leases roll. The property is close to downtown Manchester and has convenient access to I-84 and I-384, about 15 minutes from Hartford’s employment base. Please reach out to the deal contacts for more information.

Investment Highlights

• Mark-to-Market Opportunity
• Near-Term Lease Rollover
• Minimal Owner Utility Expense
• Moments from Main Street
• Quick Highway Access
• Established Renter Base