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Huntington Ridge Apartments
61 Henry Street
Norwich, CT 06360
County: New London
100 Units
122,040 sq ft
13.37 Acres
Price: $13,975,000
Price Per Unit: $139,750
Cap Rate: 6.30%
Year Built: 2006
Chozick
Realty, Inc., is proud to present the Huntington
Ridge Apartments. Huntington Ridge constructed in
2006 is one of the City of Norwich' s newest
residential addresses. This 100 unit community is
situated at exit 80 off of I-395, just one exit from
the Mohegan Sun Resort & Casino. Located in a
residential setting, yet just minutes away for a
wealth of employment, entertainment and historical
venues offered in Southeastern Connecticut,
Huntington Ridge offers and outstanding location in
which to live and invest.
The spacious residences offered at Huntington Ridge
consist of 21 one-bed, one bath; 61 two-bed, two
bath; and 18 three bedroom apartment homes. Unit
sizes range from 700 square feet to 1,192 square
feet. All apartments have resident paid high
efficiency HVAC systems, well appointed GE appliance
kitchens and resident amenities including a
clubhouse, playground and will have an outdoor pool
in the future.
The Norwich area and New London County are home to
such major employers as Pfizer Pharmaceutical' s
world headquarters, General Dynamic' s Electric Boat
Division, one of two boatyards in the United States
constructing submarines for the US Navy, the Coast
Guard Academy, The US Navy Submarine School and
Naval Base, Foxwoods Casino, the largest casino in
the world and the Mohegan Sun Casino, just one exit
from Huntington Ridge. The Mohegan Sun currently
employs an estimated 10,000 people and is undergoing
an $800,000,000 expansion, the largest development
on the East Coast. The Casino' s expansion includes
a second hotel with 1,200 additional rooms, a new
10,000 seat auditorium, expansion of retail,
restaurant and gaming space and additional
employment opportunities.
Highlights
• Class A Multifamily Community
• Constructed 2006
• Large Apartments 21 One Bed; 61 Two Bed; 18
Three Bed
• All Resident Paid High
Efficiency Utilities
• 13.37 Acres with Possible Expansion
• One Exit from Mohegan Sun
Resort & Casino
Financial Summary Proforma
Year: 2008
Scheduled Gross Income: $1,314,500
Effective Gross Income: $1,275,065
Operating Expenses: $395,749
Net Operating Income: $879,316
Unit Mix Information
One Bed One Bath
Units: 21
800 sq ft
Avg. Mo. Rent: $900
Two Bed Two Bath
Units: 61
980 sq ft
Avg. Mo. Rent: $1,100
Three Bed Two Bath
Units: 18
1,192 sq ft
Avg. Mo. Rent: $1,250
call Rick Chozick at (860)
247-7400
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Apartment Investments
A Great New Book Full of What Investors
Need to Know.
Comment
Dear
Richard,
Thank You very much for your help on the
financing. The rate turns out to be better than
expected...
Joe D.
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