Three-Unit Triplex with
For Sale
Under Contract
$850,000
105 Grennan Road, West Hartford, CT 06107
MULTI_FAMILY - West Hartford, CT
Property Size3,445 SF
Lot Size0.23 Acres
Price / SF$246.73
Days on Market52
Property Features for 105 Grennan Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM-3R
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 2, Bathroom 1
Patio and Porch features
Deck
Exterior features
Balcony,Deck
Basement
Full, Unfinished
Lot features
Level Lot
Elementary school
Braeburn
High school
Conard
Directions
Whitman Ave to Grennan Rd
Standard status
Active Under Contract
Size
3,445 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
15466
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Cooling system
Window Unit(s)
Water source
Public
Amenities
private balconies
coin-operated laundry
storage space
Building Details
Year built
1923
Architectural style
Other
Listing Agency:
Higgins Group Real Estate
(203) 254-9000
Listed By:
Melissa Montagno
(203) 887-1340
Added: Jun 18
Changed: Aug 3
Last Checked: Aug 8 at 5:06PM
MLS# 24183469
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Three-unit triplex offering three residential units within a single property, with two apartments on the first and second floors and a third-floor unit. The first and second-floor apartments each feature two bedrooms, one full bathroom, living and dining rooms, functional kitchens, and private balconies. The third-floor unit includes one bedroom, one full bathroom, a living room, and a kitchen. A large basement provides ample storage and includes coin-operated laundry serving all units.
The property is zoned RM-3R and sits on a 0.23-acre lot. Exterior features include balcony/deck. Heating is hot water, and cooling is provided by window unit(s). Water service is public, and sewer is public sewer.
The home was built in 1923. Reported major improvements include newer roof, siding, and mechanical systems. The property is described as fully occupied, with additional convenience and functionality supported by the shared laundry area.
The property is zoned RM-3R and sits on a 0.23-acre lot. Exterior features include balcony/deck. Heating is hot water, and cooling is provided by window unit(s). Water service is public, and sewer is public sewer.
The home was built in 1923. Reported major improvements include newer roof, siding, and mechanical systems. The property is described as fully occupied, with additional convenience and functionality supported by the shared laundry area.
Key Highlights
- Three‑unit triplex with private balconies on the first and second floors
- Third‑floor unit includes one bedroom and one full bathroom
- Large basement with ample storage plus coin‑operated laundry serving all units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,586
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,011,720
$1.0M
Cap Rate 7%
$722,657
$722.7K
Cap Rate 9%
$562,067
$562.1K
Market Conditions
NOI Build-Up for 3,445 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$76.5K $22.20/SF
− Vacancy
−$4.2K −$1.22/SF
EGI
$72.3K $20.98/SF
− OpEx
−$21.7K −$6.29/SF
NOI
$50.6K $14.68/SF
Area
Hartford, CT
Vacancy
5.51%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,011,720
Cap Rate 7%
$722,657
Cap Rate 9%
$562,067
Alternative Uses
Best Use
Multifamily LT 5
$722.7K
$632.3K – $843.1K
NOI $50,586 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$664.0K
$581.0K – $774.6K
NOI $46,478 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$1.03M
$898.5K – $1.20M
NOI $71,880 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,179
Businesses Nearby
Explore this area
Business Placement
Demographics for 06107, CT
19,221
Population
8,305
Households
2.3
Avg Household Size
43
Median Age
76%
College-Educated
98%
High-School Grad
6.7 sq mi
ZIP Area
2,869
Density / Sq Mi
$167,659
Median Household Income
$82,525
Median Earnings
$1,839
Median Rent
$455,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit triplex zoned RM-3R with public utilities, deck/balcony space, and shared coin-operated laundry in a basement.
Where is this triplex located?
The property is located at 105 Grennan Road West Hartford, CT.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Three‑unit triplex with private balconies on the first and second floors; Third‑floor unit includes one bedroom and one full bathroom; Large basement with ample storage plus coin‑operated laundry serving all units
