264 Farmington Avenue Active Save Request In-Person Tour Request Virtual Tour
Hartford,CT 06105
Key Details
Property Type Multi-Family
Sub Type 5 Family+
Listing Status Active
Purchase Type For Sale
Square Footage 12,414 sqft
Price per Sqft $108
MLS Listing ID 24069414
Style Units on different Floors
Bedrooms 12
Full Baths 8
Half Baths 2
Year Built 1928
Annual Tax Amount $32,153
Lot Size 0.290 Acres
Property Sub-Type 5 Family+
Property Description
The Green Apple grocery/convenience store is an anchor tenant paying $4,500/month until 2028. The additional office space is currently occupied by the owner, and the residential units are under rented by at least $300 per unit. Entry with a one to two year bridge loan will allow a new owner to perform the necessary updates and lease-up each unit. The owner paid heat and hot water system in addition to the completion of cosmetic upgrades in the residential units will allow an investor to attain our proforma rental projections. With proforma rents in place and assuming a valuation of $1,350,000, this property stands as an 8 percent CAP and will yield a 9.8 percent return.
Location
State CT
County Hartford
Zoning MS-1
Rooms
Basement Full
Interior
Heating Hot Air
Cooling Window Unit
Exterior
Parking Features None,Paved,Parking Lot,Unassigned Parking
Waterfront Description Not Applicable
Roof Type Flat
Building
Lot Description Corner Lot,Level Lot
Foundation Stone
Sewer Public Sewer Connected
Water Public Water Connected
Schools
Elementary Schools Per Board Of Ed
High Schools Per Board Of Ed