12-Unit Apartment
For Sale
$1,450,000
196 Park Street, Hartford, CT 06106
Twelve units across two properties with tenant-paid utilities, off-street parking, public water and sewer, and gas heat.
Days on Market66
Property Features for 196 Park Street
General Information
Standard status
Active
Property subtype
Multi Family Home
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
6 x 3BR, 6 x 2BR
Multifamily Units
12
Building Details
Building Size
7,128 SF
Year Built
1890
Buildings
2
Listing Agency:
Vc Property Group, LLC
(860) 343-7800
Listed By:
Connor Wenchell
(860) 343-7800
Source:
Westshorerealty
Added: May 28
Changed: Jul 30
Last Checked: Aug 1 at 12:30PM
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 Vc Property Group, LLC
Investment Insights
Based on property information with market context.
This 12-unit apartment portfolio is made up of two 6-family properties: 196 Park Street and 38 Brown Street. The unit mix includes six 3-bedroom units and six 2-bedroom units, supporting a broader tenant base while maintaining a family-sized component.
Both properties are supported by tenant-paid utilities, off-street parking, public water and sewer, and gas heat. The portfolio benefits from established occupancy levels and is currently operating as an income-producing multifamily asset. The buildings were constructed in 1890.
Situated near downtown Hartford, the properties also offer convenient access to major employers, hospitals, universities, public transportation, and interstate highways, which can support tenant demand in the area.
Both properties are supported by tenant-paid utilities, off-street parking, public water and sewer, and gas heat. The portfolio benefits from established occupancy levels and is currently operating as an income-producing multifamily asset. The buildings were constructed in 1890.
Situated near downtown Hartford, the properties also offer convenient access to major employers, hospitals, universities, public transportation, and interstate highways, which can support tenant demand in the area.
Key Highlights
- Two 6‑family properties: 196 Park Street and 38 Brown Street
- Twelve total units with six 3‑bedroom units and six 2‑bedroom units
- Tenant‑paid utilities
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $185.6k | $26.04 |
| − Vacancy | −$10.8k | −$1.51 |
| EGI | $174.8k | $24.53 |
| − OpEx | −$78.7k | −$11.04 |
| NOI | $96.2k | $13.49 |
7,128 SF · lease $26.04/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.37M
$1.20M – $1.60M
NOI $96,166 @ 7.0% cap · market cap 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,726 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,969
Businesses Nearby
Explore this area
Business Placement
Demographics for 06106, CT
38,036
Population
16,938
Households
2.2
Avg Household Size
33
Median Age
17%
College-Educated
70%
High-School Grad
4.2 sq mi
ZIP Area
9,056
Density / Sq Mi
$47,542
Median Household Income
$31,395
Median Earnings
$1,237
Median Rent
$201,600
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?
Apartment building - Twelve units across two properties with tenant-paid utilities, off-street parking, public water and sewer, and gas heat.
Where is this apartment building located?
The property is located at 196 Park Street Hartford, CT.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Two 6‑family properties: 196 Park Street and 38 Brown Street; Twelve total units with six 3‑bedroom units and six 2‑bedroom units; Tenant‑paid utilities
