6 Unit Brick Building for Sale

Multi-Family for Sale
Catylist Listing ID: 30537177
Property Subtypes: Low-Rise/Garden
Number of Units: 6 Units
Building Size (RSF): 6,048 SF
Gross Land Area: 0.16 Acres
Sale Price: $329,000
Unit Price: $54,833.33 Per Unit
Property Use Type: Investment
Sale Terms: Sale/Leaseback, Other
Cap Rate: 11.57%
Average Occupancy Rate: 100
Last Updated: 2/16/2020

Overview / Comments

This is a 6 unit investment opportunity in the south end of Hartford with an 11+% CAP return. The property is a total of approx. 6,048 SF with (6) 2 bed/1 bath, railroad style apartments. The units have been updated and feature: hardwood and laminate flooring, updated kitchens w/tile + new cabinets and counters, and updated bath rooms.There are newer windows and window frames throughout the property (last 7-8 years). The driveway belongs to the building, there is off-street parking in rear. Behind the property is a 4 car-detached garage (currently owner occupied) with the potential for additional income. The utilities are separate & tenant paid - gas heat & hot water. The electrical has been updated and is also separate panels and tenant paid. There is a washer hook-up in each apartment + pantry and ample closet space. Good opportunity to own a solid brick building with stable tenant base and good income. Update: This can now be purchased with 3 adjacent buildings, for a total of 24 units in a row on Bond St.

Additional Details

Nearest MSA: Hartford-East Hartford-Middletown
County: Hartford
Tax ID/APN: 251679228
Zoning: R3
Percent Occupied: 83%
Property Located Between: Between Franklin Ave & Wethersfield Ave.
Highway Access: Highway access nearby - i91 & i84.
Area Description: In an area with similar multifamily buildings.
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 3
Year Built: 1900
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Brick
Parking Type: Structure, Surface
Parking Description: 4 car-detached garage + approx 4 surface parking spaces.
Total Parking Spaces: 8
Laundry: In Each Unit
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Baseboard
Fuel: Gas
Air Conditioning: Window Unit
Internet Access: Other
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 38,042 170,701 323,576
Median Age: 29.38 34.68 37.2
Households: 12,682 66,813 124,971
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