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42-44 Redding St 6 Unit Apartment Building $675,000 ($112,500/Unit) 8% Cap Rate Hartford, CT 06114
Investment Highlights
- Strong in place cash flow
- Many Updates
- Desirable unit mix
Executive Summary
Excellent opportunity to acquire a cash-flowing 6-unit brick building! This 5,642 SF three-story property consists of all 2-bedroom, 1-bath units, several of which have been renovated with updated kitchens, bathrooms, and flooring. The property also features a newer roof and separate, tenant-paid utilities, including gas heat and hot water. The asset offers strong in place cash flow with additional upside as units turn over. Located in Hartford south end, the property is within walking distance of colt park, and offers convenient access to Hartford hospital, downtown Hartford, public transportation and I-91.
Property Facts
| Price | $675,000 | Apartment Style | Low-Rise |
| Price Per Unit | $112,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 8% | Building Size | 6,462 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1920 |
| Property Subtype | Apartment | Parking Ratio | 0.46/1,000 SF |
| Zoning | R3 | ||
| Price | $675,000 |
| Price Per Unit | $112,500 |
| Sale Type | Investment |
| Cap Rate | 8% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 6,462 SF |
| No. Stories | 3 |
| Year Built | 1920 |
| Parking Ratio | 0.46/1,000 SF |
| Zoning | R3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | - |
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Moderately walkable
70/100
Very drivable
80/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | HTFD-000252-000681-000212 | Improvements Assessment | $202,020 |
| Land Assessment | $39,480 | Total Assessment | $241,500 |
Property Taxes
Parcel Number
HTFD-000252-000681-000212
Land Assessment
$39,480
Improvements Assessment
$202,020
Total Assessment
$241,500
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42-44 Redding St