Chozick Realty Sells Nine-Unit Rental Building for $500,000

Vernon, Conn.–W&K Associates, an owner and manager of properties, has bought 28-32 Elm St., a nine-unit apartment building in Vernon, Conn., for $500,000. The broker for the deal was Hartford, Conn.-based Chozick Realty.The property is located in the downtown area of Vernon, which is less than 15 miles east of Hartford, Conn.“It is on a residential street but is centrally located within walking distance to retail, entertainment and employment,” Rick Chozick, president of Chozick Realty tells MHN.“It is adjacent to the downtown Vernon area, the Rockville Hospital and the Superior Court, all of which make this an attractive area to invest in,” The property underwent renovations in 1997 when it was fitted with all-new unit and common area interiors, heating and electrical systems along with new windows and exterior siding.The building has a unit mix of two one-bedroom, five two-bedroom, one three-bedroom and one four-bedroom apartments.32 Elm St. has historically maintained a high occupancy level and had one vacancy at the time it was sold. The average rent in the building is $900.The seller was a private individual.