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8 Unit Investment in Little Poland 240-242 Washington St 8 Unit Apartment Building $839,900 ($104,988/Unit) 8.06% Cap Rate New Britain, CT 06051
INVESTMENT HIGHLIGHTS
- Little Poland Neighborhood
- 6 Units + 2 Family, 1 Parcel
- Off-Street Parking
- Mainly Turn Key Assets
- Separate & Tenant Paid Utilities
- Rents Below Market = Upside!
EXECUTIVE SUMMARY
Fantastic investment opportunity in Little Poland neighborhood with value add potential! 2 properties, 1 parcel. Front building is a 6 unit brick asset with 4,905 SF - all 1 bed units. Rear building is a 2 family with 1,448 SF - both 2 bed units. Both buildings offer separate and tenant paid utilities - gas heat, hot water and cooking + electric. Some renovations throughout with hardwood floors and unit renovations. Overall well maintained assets. There is also off-street parking for both buildings. Rents are way below market = BIG UPSIDE 15% ROI pro-forma. Amazing location with a short walk to Broad St and all Little Poland has to offer. Do NOT walk the property without an appt.
PROPERTY FACTS
| Price | $839,900 | Building Class | C |
| Price Per Unit | $104,988 | Lot Size | 0.27 AC |
| Sale Type | Investment | Building Size | 10,545 SF |
| Cap Rate | 8.06% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1910/2025 |
| Property Subtype | Apartment | Parking Ratio | 0.76/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | A2 - designated for moderate-density, multifamily residential districts. | ||
| Price | $839,900 |
| Price Per Unit | $104,988 |
| Sale Type | Investment |
| Cap Rate | 8.06% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 10,545 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1910/2025 |
| Parking Ratio | 0.76/1,000 SF |
| Zoning | A2 - designated for moderate-density, multifamily residential districts. |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Cable Ready
- Crown Molding
- Eat-in Kitchen
- Hardwood Floors
- Refrigerator
- Range
- Carpet
- Basement
- Handrails
- Pantry
- Porch
- Smoke Free
- Large Bedrooms
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Smoke Free
- Trash Pickup - Curbside
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | $1,100 | 720 |
| 2+2 | 2 | $1,200 | 815 |
1 1
Walk Score®
Very Walkable (88)
PROPERTY TAXES
| Parcel Number | NBRI-000006C-000000-C000050 | Improvements Assessment | $303,590 |
| Land Assessment | $51,520 | Total Assessment | $355,110 |
PROPERTY TAXES
Parcel Number
NBRI-000006C-000000-C000050
Land Assessment
$51,520
Improvements Assessment
$303,590
Total Assessment
$355,110
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8 Unit Investment in Little Poland | 240-242 Washington St
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