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21-23 Glendale Ave 6 Unit Apartment Building $675,000 ($112,500/Unit) 8.44% Cap Rate Hartford, CT 06106
Investment Highlights
- Strong in place cash flow
- Value add upside
- Many updates
Executive Summary
Excellent opportunity to acquire a cash-flowing 6-unit brick multifamily asset located in the South End of Hartford. This 8,702 SF, three-story building features six 2-bedroom, 1-bath units. The property has seen numerous updates, including some renovated kitchens, a newer roof, updated fire-rated doors, newer hot water tanks, and an updated fire alarm system. Separate, tenant-paid utilities help maximize income potential. Ideally situated close to shopping, restaurants, parks, and major highways, the location offers strong rental demand and convenience for tenants. Additional highlights include off-street parking. A strong investment opportunity offering immediate cash flow with value-add upside.
Property Facts
| Price | $675,000 | Building Class | C |
| Price Per Unit | $112,500 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 7,149 SF |
| Cap Rate | 8.44% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1927 |
| Property Subtype | Apartment | Parking Ratio | 0.99/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R4 | ||
| Price | $675,000 |
| Price Per Unit | $112,500 |
| Sale Type | Investment |
| Cap Rate | 8.44% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 7,149 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1927 |
| Parking Ratio | 0.99/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R4 |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Oven
- Sprinkler System
- Range
- Tub/Shower
- Smoke Free
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | - |
1 1
Moderately walkable
70/100
Exceptionally drivable
90/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | HTFD-000184-000518-000189 | Improvements Assessment | $210,070 |
| Land Assessment | $39,480 | Total Assessment | $249,550 |
Property Taxes
Parcel Number
HTFD-000184-000518-000189
Land Assessment
$39,480
Improvements Assessment
$210,070
Total Assessment
$249,550
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21-23 Glendale Ave
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