Multifamily Residential Income
24 Park Terrace Hartford, CT 06106
24 Park Terrace, Hartford, CT, 06106
$899,000
For Sale
$899,000
Well-maintained multifamily building with functional layouts and abundant natural light, offering rental income potential.
Property Size5,442 SF
Price / SF$165.20
Days on Market15
Property Features for 24 Park Terrace
General Information
- Standard status
- Active
- Size
- 5,442 SF
- Property subtype
- 5 Family+
Building Details
- Year Built
- 1895
Listing agency
Five Stars Realty
(860) 794-5353
Listed by
Guillermo Araujo · License #REB.0794500
(860) 794-5353
Source
Lockandkeyre
Added: Jul 7 Updated: Jul 20 at 9:25PM Checked: Jul 21 at 3:27AM
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 Five Stars Realty
Investment Insights
Based on property information with market context.
24 Park Terrace is a well-maintained multifamily residential income property in Hartford. The building is described as offering spacious living areas with generously sized bedrooms, functional unit layouts, and abundant natural light throughout.
The property is located in Hartford’s Frog Hollow neighborhood and provides convenient access to Interstates 84 and 91. It is also described as minutes from Downtown Hartford, Hartford Hospital, and Trinity College, with additional nearby amenities and destinations including Bushnell Park.
This is a versatile multifamily asset suited for owner-occupants seeking to reside in one unit while generating rental income from others, as well as investors looking to add to an income-producing portfolio. Schedule a private showing to review the current configuration and fit for your plans.
The property is located in Hartford’s Frog Hollow neighborhood and provides convenient access to Interstates 84 and 91. It is also described as minutes from Downtown Hartford, Hartford Hospital, and Trinity College, with additional nearby amenities and destinations including Bushnell Park.
This is a versatile multifamily asset suited for owner-occupants seeking to reside in one unit while generating rental income from others, as well as investors looking to add to an income-producing portfolio. Schedule a private showing to review the current configuration and fit for your plans.
Key Highlights
- Multi‑family building with functional layouts and abundant natural light throughout
- Year built: 1895
- Owner‑occupant or investor potential with rental income from additional units
Local 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 | $141.7k | $26.04 |
| − Vacancy | −$8.2k | −$1.51 |
| EGI | $133.5k | $24.53 |
| − OpEx | −$60.1k | −$11.04 |
| NOI | $73.4k | $13.49 |
5,442 SF · lease $26.04/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$917.8K – $1.22M
NOI $73,420 @ 7.0% cap · market cap 8.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,547 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Well-maintained multifamily building with functional layouts and abundant natural light, offering rental income potential.
Where is this apartment building located?
The property is located at 24 Park Terrace Hartford, CT.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Multi‑family building with functional layouts and abundant natural light throughout; Year built: 1895; Owner‑occupant or investor potential with rental income from additional units
