Clearview Apartments

Hartford, the capital city of Connecticut, is known for its rich history, cultural landmarks, and vibrant community. Hartford, Connecticut, is located in the north-central part of the state, along the Connecticut River. It serves as the state capital and is part of Hartford County. The city is approximately halfway between New York City and Boston, making it a strategic location in the New England region. Hartford is well-connected by major highways, including Interstate 84 (running east-west) and Interstate 91 (running north-south). This makes it easily accessible by car from other major cities in the region. The city has an Amtrak train station providing regional rail service, and it is near Bradley International Airport, located about 15 miles north in Windsor Locks, offering domestic and limited international flights.Northeast Private Client Group is pleased to present Clearview Apartments, a 37-unit portfolio located in Hartford, Connecticut. The Clearview Apartments is comprised of thirteen (13) one bedroom, twenty-two (22) two bedroom and two (2) three-bedroom apartments. Heat and hot water in the building is provided through central natural gas boilers and is paid for by the landlord. Tenants are responsible for their own electric expenses and cooking gas (6 apartments). The buildings feature on-site laundry rooms and off-street parking for tenants and visitors. The Clearview Apartments is a mixed-affordable community with 28 units being under a HUD contract, while 9 units are dedicated to qualified individuals making 60% of area median income (AMI). The property benefited from a 15-year LIHTC which originated in September of 1997. Since then, there was an additional 15-year extension of this program through 2027. A new owner can benefit from acquiring a well maintained and managed asset with the opportunity to raise contracted rents. Upon expiration of the LIHTC program in 2027, the property will become market rate with the availability to move rents to market levels.