Three-Unit Multifamily
For Sale
$400,000
Pending
52-56 Great Hill Road, East Hartford, CT 06108
Well-maintained three-unit income property with six bedrooms and three full bathrooms on a level fenced lot.
Property Size2,402 SF
Days on Market88
Property Features for 52-56 Great Hill Road
General Information
Standard status
Pending
Size
2,402 SF
Property subtype
3 Family
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
3
Building Details
Year Built
1943
Tenancy
Multi
Listing Agency:
eXp Realty
Listed By:
Kara Chappell
(860) 335-1249
Source:
Lockandkeyre
Added: Jun 11
Changed: Aug 8
Last Checked: Jul 23 at 5:34AM
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 eXp Realty
Investment Insights
Based on property information with market context.
A well-maintained three-unit multifamily property configured with approximately 2,400 square feet of living space. The layout provides six bedrooms and three full bathrooms across the three units, offering functional residential configurations for multiple households. The property sits on a level fenced lot.
The home is located in East Hartford’s Mayberry Village neighborhood, just minutes from Burnside Avenue’s shopping, dining, and everyday amenities. Access to major commuter routes is described as being convenient, including Interstate 84, Interstate 91, and Route 2.
With three separate units and a total of six bedrooms and three full bathrooms, this property can support a range of residential ownership or investment approaches while maintaining an easy-to-manage, multi-unit structure.
The home is located in East Hartford’s Mayberry Village neighborhood, just minutes from Burnside Avenue’s shopping, dining, and everyday amenities. Access to major commuter routes is described as being convenient, including Interstate 84, Interstate 91, and Route 2.
With three separate units and a total of six bedrooms and three full bathrooms, this property can support a range of residential ownership or investment approaches while maintaining an easy-to-manage, multi-unit structure.
Key Highlights
- Well‑maintained three‑unit multi‑family property built in 1943
- Approximately 2,400 SF of living space with 6 bedrooms and 3 full bathrooms across three units
- Level fenced lot
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
$35,270
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
8.82%
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%
$705,400
$705.4K
Cap Rate 7%
$503,857
$503.9K
Cap Rate 9%
$391,889
$391.9K
Market Conditions
NOI Build-Up for 2,402 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
$53.3K $22.20/SF
− Vacancy
−$2.9K −$1.22/SF
EGI
$50.4K $20.98/SF
− OpEx
−$15.1K −$6.29/SF
NOI
$35.3K $14.68/SF
Area
Hartford, CT
Vacancy
5.51%
Lease Rate
$22.20 /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%
$705,400
Cap Rate 7%
$503,857
Cap Rate 9%
$391,889
Alternative Uses
Best Use
Multifamily LT 5
$503.9K
$440.9K – $587.8K
NOI $35,270 @ 7.0% cap · market cap 8.82%
Second Best
Apartment 5plus
$462.9K
$405.1K – $540.1K
NOI $32,406 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$716.0K
$626.5K – $835.3K
NOI $50,118 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
227
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?
Triplex - Well-maintained three-unit income property with six bedrooms and three full bathrooms on a level fenced lot.
Where is this triplex located?
The property is located at 52-56 Great Hill Road East Hartford, CT.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Well‑maintained three‑unit multi‑family property built in 1943; Approximately 2,400 SF of living space with 6 bedrooms and 3 full bathrooms across three units; Level fenced lot
