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    320 Chestnut St New Britain, CT 06051

    For Sale
    $699,999

    Six-unit multifamily property with income potential near downtown.

    Lot size:
    0.23 Acres

    Property Features for 320 Chestnut St

    General Information

    Lot size
    0.23 Acres

    Building Details

    Year built
    1904

    Source: Premier Re Group LLC Agent Michelle Lorenzetti

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

    Overview

    Turnkey Multifamily Investment Opportunity

    This is a six-unit multifamily property with a history of strong rental income. The property features separate tenant-paid utilities. It is located conveniently near downtown, shopping areas, schools, and major highways. This property offers an opportunity for investors seeking cash flow, with potential for increased income through market rent adjustments. Additional income is generated from a three-car garage and basement storage units. There is a value-add option to complete the attic, potentially increasing the bedroom count in the lower unit or creating a separate seventh unit, subject to town approvals.
    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
    New Britain
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.770323
    Latitude
    41.6668915

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    FAQs

    What type of property is this?
    Apartment building - Six-unit multifamily property with income potential near downtown.
    Where is this apartment building located?
    The property is located at 320 Chestnut St New Britain, CT.
    What is the asking price?
    The asking price for this property is $699,999.
    What are key features of this property?
    This property features: - Strong rental history and steady income stream.; - Separate tenant-paid utilities.; - Additional income from 3-car garage and basement storage units.
    (860) 335-0681
    Request Owner's contact information
    320 Chestnut St New Britain, CT 06051
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    New Britain, CT 06051
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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
    320 Chestnut St New Britain, CT 06051
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