Renovated Three-Unit
New
For Sale
$1,150,000
15 Hillhurst St, Stamford, CT 06902
Fully occupied multifamily property with updated building systems and convenient access to Stamford Hospital, downtown, transit, and nearby amenities.
Property Size2,112 SF
Days on Market4
Property Features for 15 Hillhurst St
General Information
Standard status
Active
Size
2,112 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
1 x 2BR, 2 x 3BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Building Details
Building Size
2,112 SF
Year Built
1962
Year Renovated
2010
Buildings
1
Listed By:
Guy Bocicaut · License #REB.0757548
(203) 855-8200
Source:
Elliman
Added: Sep 4
Changed: Sep 5
Last Checked: Sep 7 at 9:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Guy Bocicaut
Investment Insights
Based on property information with market context.
This three-unit residential income property was built in 1962 and comprehensively rebuilt in 2010, including replacement plumbing and electrical systems. The unit mix includes one two-bedroom apartment and two three-bedroom apartments. All units are occupied, providing an established rental profile for an investor or owner-occupant.
The property is located at 15 Hillhurst Street in Stamford’s Stillwater neighborhood, directly behind the Stamford Hospital parking area. Stamford Hospital, downtown, UConn Stamford, restaurants, shopping, and public transportation are within walking distance. Walk Score is 96, Transit Score is 73, and Bike Score is 75.
The property is located at 15 Hillhurst Street in Stamford’s Stillwater neighborhood, directly behind the Stamford Hospital parking area. Stamford Hospital, downtown, UConn Stamford, restaurants, shopping, and public transportation are within walking distance. Walk Score is 96, Transit Score is 73, and Bike Score is 75.
Key Highlights
- Three‑unit property with one 2‑bedroom and two 3‑bedroom apartments
- All three units are currently occupied
- Interior gutted and rebuilt in 2010
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
$40,640
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
3.53%
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%
$812,800
$812.8K
Cap Rate 7%
$580,571
$580.6K
Cap Rate 9%
$451,556
$451.6K
Market Conditions
NOI Build-Up for 2,112 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
$62.1K $29.40/SF
− Vacancy
−$4.0K −$1.91/SF
EGI
$58.1K $27.49/SF
− OpEx
−$17.4K −$8.25/SF
NOI
$40.6K $19.24/SF
Area
Stamford, CT
Vacancy
6.50%
Lease Rate
$29.40 /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%
$812,800
Cap Rate 7%
$580,571
Cap Rate 9%
$451,556
Alternative Uses
Best Use
Multifamily LT 5
$580.6K
$508.0K – $677.3K
NOI $40,640 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$519.3K
$454.4K – $605.8K
NOI $36,348 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$763.6K
$668.2K – $890.9K
NOI $53,455 @ 7.0% cap · market cap 4.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,761
Businesses Nearby
Explore this area
Business Placement
Demographics for 06902, CT
69,192
Population
30,142
Households
2.3
Avg Household Size
36
Median Age
44%
College-Educated
85%
High-School Grad
10.0 sq mi
ZIP Area
6,919
Density / Sq Mi
$92,527
Median Household Income
$48,285
Median Earnings
$2,139
Median Rent
$515,000
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 - Fully occupied multifamily property with updated building systems and convenient access to Stamford Hospital, downtown, transit, and nearby amenities.
Where is this triplex located?
The property is located at 15 Hillhurst St Stamford, CT.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Three‑unit property with one 2‑bedroom and two 3‑bedroom apartments; All three units are currently occupied; Interior gutted and rebuilt in 2010
