8 units in one building

Multi-Family for Sale
Catylist Listing ID: 30552230
Property Subtypes: Low-Rise/Garden
Number of Units: 814 Units
Building Size (RSF): 4,524 SF
Gross Building Area: See Agent
Gross Land Area: 0.14 SF
Sale Price: $450,000
Unit Price: $552.83 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 1/2/2020

Overview / Comments

This is an opportunity to own 8 units in one building, in the Frog Hollow neighborhood of Hartford with an 8+% CAP return. There are (7) 1 bed/1 bath apartments and 1 small efficiency unit. The majority of units have been updated and feature: laminate hardwood floors + tile , updated kitchens w/new cabinets and counters, and fully updated bath rooms.

The driveway is shared with the property in back, there is off-street parking in rear for a couple of cars. The electrical has been updated and is separate panels in each unit and tenant paid. There is a central gas furnace and hot water tank in the basement - heat and hot water are owner paid. There is no laundry on site.

8 Units (2 vacant)

7, 1 Bed/1 Bath

1 Efficiency

Frog Hollow Neighborhood

Lots of Unit Upgrades: New Kitchens – Cabinets & Counters, Laminate Hardwood Floors

New Bath Rooms – Showers, Vanities & Toilets + Flooring

Separate & Tenant Paid Electric – Panel in Each Unit

(efficiency & 1 unit share electric)

Tenants Pay Gas for Cooking

Owner Pays Heat & Hot Water – Gas

Shared Driveway w/Property in Rear + a Couple Parking Spaces Behind Building

NO Laundry on Site

Value Add: w/room to increase rents!

Additional Details

Nearest MSA: Hartford-East Hartford-Middletown
County: Hartford
Tax ID/APN: 204525068
Zoning: NX-2
Property Located Between: Putnam Heights to Putnam or Ward to Putnam
Total Number of Buildings: 1
Roof Type: Flat
Construction/Siding: Aluminum Siding
Parking Type: Surface, Other
Heat Type: Natural Gas
Heat Source: Baseboard
Fuel: Gas
Air Conditioning: Window Unit
Internet Access: Cable
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 44,584 180,788 309,498
Median Age: 29.69 34.22 37.37
Households: 17,583 68,311 119,504
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