Renovated Multifamily Apartment
For Sale
$1,895,000
51 Bedford Street, Hartford, CT 06120
Three adjacent apartment buildings offer renovated interiors, separate utility metering, and an adjacent parking lot in Hartford.
Property Size6,456 SF
Price / SF$293.53
Days on Market175
Property Features for 51 Bedford Street
General Information
Standard status
Active
Size
6,456 SF
Property subtype
Multi-Family / 5 Family+
Zoning
NX-1
Units
Unit Mix
2 x 2BR, 14 x 3BR, 2 x 4BR
Multifamily Units
18
Taxes and HOA fees
Annual Taxes
$53,631
Amenities
5DBEBCAEECC174CEE063E201100ADD70
No
Hot Air
95
Not Applicable
Building Details
Year Built
1910
Buildings
3
Listing Agency:
Oxford Realty
Listed By:
Thuyan Tran · License #REB.0794813
(860) 308-6115
Source:
Compass
Added: May 8
Changed: Oct 26
Last Checked: Oct 28 at 11:54AM
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 Oxford Realty
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Investment Insights
Based on property information with market context.
This multifamily offering comprises three adjacent six-unit apartment buildings with 18 units in total. The unit mix includes two two-bedroom apartments, 14 three-bedroom apartments, and two four-bedroom apartments. Renovated kitchens and bathrooms extend throughout the portfolio, while 51 Bedford underwent a full gut renovation in 2022 with new flooring, a roof, kitchens, bathrooms, and all-electric heat. The property was built in 1910 and is zoned NX-1.
All units are separately metered, with utilities paid by tenants. A lot beside 51 Bedford provides parking. The portfolio is located in Hartford, minutes from Downtown.
All units are separately metered, with utilities paid by tenants. A lot beside 51 Bedford provides parking. The portfolio is located in Hartford, minutes from Downtown.
Key Highlights
- 18 units across three adjacent 6‑unit apartment buildings
- Unit mix: 2 two‑bedroom, 14 three‑bedroom, and 2 four‑bedroom units
- 51 Bedford fully gut renovated in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,100
Cap Rate
4.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,742,000
$1.7M
Cap Rate 7%
$1,244,286
$1.2M
Cap Rate 9%
$967,778
$967.8K
Market Conditions
NOI Build-Up for 6,456 SF
Gross rent
$168.1K $26.04/SF
− Vacancy
−$9.8K −$1.51/SF
EGI
$158.4K $24.53/SF
− OpEx
−$71.3K −$11.04/SF
NOI
$87.1K $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 Rate 5%
$1,742,000
Cap Rate 7%
$1,244,286
Cap Rate 9%
$967,778
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $87,100 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.92M
$1.68M – $2.25M
NOI $134,705 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
1,161
Businesses Nearby
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Business Placement
Demographics for 06120, CT
12,636
Population
5,713
Households
2.2
Avg Household Size
32
Median Age
9%
College-Educated
73%
High-School Grad
3.5 sq mi
ZIP Area
3,610
Density / Sq Mi
$33,521
Median Household Income
$35,570
Median Earnings
$1,183
Median Rent
$183,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three adjacent apartment buildings offer renovated interiors, separate utility metering, and an adjacent parking lot in Hartford.
Where is this apartment building located?
The property is located at 51 Bedford Street Hartford, CT.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: 18 units across three adjacent 6‑unit apartment buildings; Unit mix: 2 two‑bedroom, 14 three‑bedroom, and 2 four‑bedroom units; 51 Bedford fully gut renovated in 2022
