Location Summary

• Security Manor is situated in the multifamily, residential neighborhood of New Britain, in Hartford County, Connecticut. Hartford County is located in the north central part of Connecticut. Located at the geographic center of Connecticut, the city of New Britain is part of Hartford County. Considered a suburb of Hartford, New Britain is about 10 miles southwest of the Connecticut state capital. Serviced by U.S. Route 6 and Connecticut State Highways 9 and 72, the city is afforded direct access to Interstate Highways I-84 and I-91 and is about two hours away from both Boston and New York. New Britain is bordered by Plainville, Farmington, Southington, Berlin and Newington. The population of the City was 73,122 in 2012 and is projected to grow by 5% to 76,020 individuals by 2020. The City of New Britain is 13 square miles and is part of Hartford County with a population of 893,504 people as of 2012. Hartford County is the economic epicenter of Central Connecticut. The Hartford County region is home to world class international manufacturing companies, financial service companies, aero space companies, bio tech firms, and insurance companies. These sectors are just a small example of the diverse and deep employment base the area has to offer, making New Britain and the Region a healthy and growing rental market. New Britain is serviced by Interstate 84, Route 72, Route 9, CT Fast Track Service, Amtrak in neighboring Berlin and Bradley International Airport (28 mi).
• Sky Realty Group of Broder Commercial is pleased to present Security Manor, located on 2.88 acres in New Britain, Connecticut. Built in 1962, the property is comprised of 50 Garden Style Apartments situated perfectly among a grassy, tree-lined landscape. The apartment complex offers 6 residential buildings, consisting of 28 one bedroom units and 22 studio apartments, allocated over 26,166 square feet of gross building area. Additionally, there is a community building available for meetings and gatherings. Current ownership has improved the property with upgrades to approximately 50% of the units, as well as common area improvements. Heat is provided to the tenants via a central gas fired boiler and hot water heater. Electric is individually metered and paid for by the residents. There is ample onsite parking for +/- 30 cars. This property offers an incoming investor upside potential in bringing the current rental rates up to market rate levels. The property currently has a HAP Contract for 27 Project Based Units for a period of 15 years. The current ownership is converting all of the Project Based units to Market Rate units. The property is being offered for sale based on the market rent projections. Security Manor is situated in a desirable residential location, within a 15 minute drive to major area employers, New Britain Hospital and ESPN. This property is in close proximity to Central Connecticut State University, Walnut Hill Park and the New Britain Art Museum as well as being convenient to highway access, national retailers, entertainment and employment centers.