Silas Deane Apartments 554 Silas Deane Hwy Immeuble residentiel 46 lots 6 363 234 € (138 331 €/Lot) Wethersfield, CT 06109

Chozick Realty is proud to present 554 Silas Deane Highway, a 46-unit multifamily property ideally positioned in Wethersfield, CT. Built in 1965, the property offers investors an attractive combination of scale, location, operational efficiency, and long-term value.
The property consists of 44 one bedroom and 2 two bedroom apartments, providing a highly desirable unit mix that appeals to a broad tenant base. The building is serviced by a central boiler system providing heat and hot water, offering ownership the efficiency and simplicity of a centralized mechanical system. The property also features a four-stop elevator, providing added convenience and accessibility for residents.
The property’s location is one of its most compelling attributes. Situated along Silas Deane Highway, 554 Silas Deane benefits from excellent visibility and convenient access to major transportation routes, shopping, dining, employment centers and everyday amenities.
Wethersfield also benefits from a strong and affluent surrounding demographic, with a reported median household income of approximately $126K. This attractive income profile speaks to the overall strength of the community and its ability to support continued demand for quality housing. For multifamily investors, the combination of a well-established residential community, strong household incomes, convenient transportation access, and limited availability of larger multifamily assets creates an exceptionally attractive investment environment.
An incoming purchaser must assume the existing Freddie Mac Small Balance Loan. The loan has a 3.75% fixed interest rate, with an approximate $4.5 million outstanding balance, and a 30-year amortization schedule, with a maturity date of February 2031. The below-market interest rate and long-term amortization provide an excellent opportunity for a buyer to assume favorable existing financing while potentially reducing the cost and complexity associated with securing new debt.