High-Yield Multi-Unit Investment on the West Hartford Line: Exceptional opportunity to acquire a well-maintained 12-unit brick building on 478 Prospect Ave., ideally located on the Hartford/West Hartford line. All units are very large 1-bedroom apartments with spacious interiors-highly attractive to tenants and easy to lease. The offering also includes the neighboring property 486 Prospect Ave., formerly used as an architect's office, with additional residential units and untapped potential. Currently generating an almost 8 cap, this investment offers tremendous value-add potential. Rents are currently under market, presenting a clear path to increased cash flow and maximized NOI through strategic rent adjustments and light upgrades. This is a rare chance to secure a high-performing asset in a desirable rental area with strong fundamentals. Agent related. Financials in attachments.
8,352 Sq Ft
0.21 Private Acres Lot Size
Multi Family
Built in 1928
MLS/Listing ID 24112928
Construction - Brick
Construction - Concrete
Sidewalk
Deck
Lighting
Heating - Radiator
Parking - Detached Garage
Parking - Parking Lot
Flat
Heating - Hot Water
Source of Data: SMART MLS