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    478 Prospect Ave Hartford, CT 06105

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    For Sale
    $1,390,000

    Well-maintained 12-unit building with value-add potential on Hartford/West Hartford line.

    Lot size:
    0.21 Acres

    Property Features for 478 Prospect Ave

    General Information

    Lot size
    0.21 Acres

    Building Details

    Year built
    1928

    Source: Premier Re Group LLC Agent Stanley Gutt

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    High-Yield Multi-Unit Investment Opportunity

    This is an opportunity to acquire a well-maintained 12-unit brick building located on 478 Prospect Ave. on the Hartford/West Hartford line. The property includes the neighboring property at 486 Prospect Ave., formerly used as an architect's office, with additional residential units and untapped potential. The 12 units are large 1-bedroom apartments with spacious interiors. The property is currently generating an almost 8 cap and offers value-add potential. Rents are currently under market, presenting a path to increased cash flow and maximized NOI through rent adjustments and upgrades. This property is located in a desirable rental area.
    Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hartford
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.71527
    Latitude
    41.7612809

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    FAQs

    What type of property is this?
    Apartment building - Well-maintained 12-unit building with value-add potential on Hartford/West Hartford line.
    Where is this apartment building located?
    The property is located at 478 Prospect Ave Hartford, CT.
    What is the asking price?
    The asking price for this property is $1,390,000.
    What are key features of this property?
    This property features: - High-Yield Investment: Generating almost an 8 cap rate, offering strong immediate returns.; - Value-Add Potential: Under-market rents provide opportunity to increase cash flow and NOI through rent adjustments and upgrades.; - Desirable Location: Situated on the Hartford/West Hartford line, a highly desirable rental area.
    (860) 798-5400
    Request Owner's contact information
    478 Prospect Ave Hartford, CT 06105
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    Hartford, CT 06105
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    478 Prospect Ave Hartford, CT 06105
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