Chozick Realty Brokers Sale of Property for $7.05M
- Oct 25, 2010
Bloomfield, Conn.- Rick Chozick and Ryan Perkoski of Hartford based Chozick Realty Inc. arranged the sale of Wedgewood Apartments, located in Bloomfield, Conn. for $7,050,000.
Chozick Realty marketed the property on behalf of Monumental Properties Limited Partnership who had owned Wedgewood Apartments for approximately 40 years. The purchaser, Four Sisters LLC plan cosmetic improvements and updates to the property over the next year.
Wedgewood Apartments is a 112 unit apartment complex, built in 1966. The garden community is set on 10.8 acres and offers an attractive residential unit mix of 48 one bedroom; 29 garden style and 28 townhouse style two bedroom apartments and 7 three bedroom apartments. With apartment square footages ranging from 825 square feet to 1,385 square feet the apartments are among the largest in the Bloomfield market.
The total square footage of the one bedrooms is comparable to most two bedrooms in this market, according to Perkoski, keeping the units in high demand and the property at or close to 100 percent occupancy on a consistent basis. All units have large fully applianced kitchens, private balconies and with the exception of the one bedrooms, all have one and one half baths. Amenities include a clubhouse and swimming pool.
Located at the junction of routes 178 and 187, the property is in a residential setting, while being in close proximity to employment centers in Bloomfield, Hartford and Windsor. The property is less than a 10-minute drive to Downtown Hartford, the Day Hill Road corporate area of Windsor, West Hartford and Bloomfield Center, providing a highly centralized location.