For Sale Details

$599,000
$54,455.00 / unit
  • Property Type Multifamily / Garden
  • Sale Type Investment
  • Status Active
  • Created 10/15/20
  • Updated 10/15/20

About 39 Central Avenue, East Hartford, CT 06108

Northeast Private Client Group is pleased to present the Central Avenue Apartments, an 11 unit multifamily property located in East Hartford, Connecticut.

Central Avenue Apartments is comprised of an 8-unit multifamily with 8 - one bedroom apartments and a 3-unit multifamily with 1 -studio and 2 - one bedroom apartments. Heat and hot water is supplied through a central gas boiler and is paid for by the landlord. Tenants are responsible for their own electric expense except for the 3-unit multifamily building where the electric expense is paid for by the landlord. The property features ample off street parking, a laundry facility and private porches for several tenants.

A new owner can realize upside potential through raising the rents to market levels.

Building Details

  • Building Area (SF): 7,200
  • Year Built: 1890
  • Number of Units: 11
  • Number of Stories: 2
  • Number of Buildings: 2

Land Details

  • Acreage: 0.29

Financial Characteristics

  • Potential Gross Income: $98,431
  • Effective Gross Income: $96,010
  • Operating Expenses: $51,625
  • Net Operating Income: $44,385
  • Cap Rate: 7.4%

The Multifamily / Garden property at 39 Central Avenue, East Hartford, CT 06108 is currently available for sale. Contact Northeast Private Client Group from Northeast Private Client Group for more information.