Six-Unit Apartment
For Sale
Contact for pricing
39 Woodbridge Ave, East Hartford, CT 06108
Fully occupied property with separately metered utilities and tenant-paid heat, hot water, and electric.
Property Size4,950 SF
Lot Size0.21 Acres
Price / SF$181.82
Days on Market15
Property Features for 39 Woodbridge Ave
General Information
Standard status
Active
Size
4,950 SF
Lot size
0.21 Acres
Property subtype
Multifamily
Zoning
R-4
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$85,082
Units
Unit Mix
6 x 2BR
Multifamily Units
6
Building Details
Year Built
1910
Buildings
1
Units
6
Tenancy
Multi
Listing Agency:
NorthEast Private Client Group Shelton
(203) 307-1574
Listed By:
Jake Jordan · License #NA
Source:
Crexi
Added: Aug 19
Changed: Aug 31
Last Checked: Sep 1 at 9:24AM
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 NorthEast Private Client Group Shelton
Investment Insights
Based on property information with market context.
This six-unit apartment building contains an all-two-bedroom unit mix within 4,950 square feet. The property was built in 1910 and sits on a 0.21-acre lot. Each residence has separate metering for heat, hot water, and electric, while ownership pays water, sewer, and common-area electric. The building is fully occupied, providing established in-place operations.
Located just off Burnside Avenue in East Hartford, the property is approximately one mile from the Connecticut River crossing into downtown Hartford. Its R-4 zoning and proximity to a major Greater Hartford employment center add relevant context for multifamily ownership.
Located just off Burnside Avenue in East Hartford, the property is approximately one mile from the Connecticut River crossing into downtown Hartford. Its R-4 zoning and proximity to a major Greater Hartford employment center add relevant context for multifamily ownership.
Key Highlights
- Six‑unit apartment building with all‑two‑bedroom units
- 4,950 square feet on a 0.21‑acre lot
- Fully occupied property
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
$66,782
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
7.42%
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%
$1,335,640
$1.3M
Cap Rate 7%
$954,029
$954.0K
Cap Rate 9%
$742,022
$742.0K
Market Conditions
NOI Build-Up for 4,950 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
$128.9K $26.04/SF
− Vacancy
−$7.5K −$1.51/SF
EGI
$121.4K $24.53/SF
− OpEx
−$54.6K −$11.04/SF
NOI
$66.8K $13.49/SF
Area
Hartford, CT
Vacancy
5.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$1,335,640
Cap Rate 7%
$954,029
Cap Rate 9%
$742,022
Alternative Uses
Best Use
Apartment 5plus
$954.0K
$834.8K – $1.11M
NOI $66,782 @ 7.0% cap · market cap 7.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,282 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
813
Businesses Nearby
Explore this area
Business Placement
Demographics for 06108, CT
24,201
Population
9,963
Households
2.4
Avg Household Size
38
Median Age
15%
College-Educated
85%
High-School Grad
8.1 sq mi
ZIP Area
2,988
Density / Sq Mi
$55,766
Median Household Income
$35,801
Median Earnings
$1,161
Median Rent
$218,800
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 - Fully occupied property with separately metered utilities and tenant-paid heat, hot water, and electric.
Where is this apartment building located?
The property is located at 39 Woodbridge Ave East Hartford, CT.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Six‑unit apartment building with all‑two‑bedroom units; 4,950 square feet on a 0.21‑acre lot; Fully occupied property
