3-Unit Value-Add
For Sale
$425,000
Pending
86 Oakwood Avenue, West Hartford, CT 06119
Three 1-bedroom, 1-bath units with hardwood floors, separate electric meters, and basement coin-operated laundry.
Property Size2,144 SF
Days on Market118
Property Features for 86 Oakwood Avenue
General Information
Standard status
Pending
Size
2,144 SF
Property subtype
3 Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1898
Stories
3
Listing Agency:
Oxford Realty
Listed By:
Saumya Mittal
(860) 503-4971
Source:
Lockandkeyre
Added: May 13
Changed: Aug 8
Last Checked: Jul 23 at 5:13AM
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
Investment Insights
Based on property information with market context.
This three-unit triple-decker offers a straightforward 1-bedroom, 1-bath layout across all units. The property includes beautiful hardwood floors and is set up with separate electric meters for streamlined utility management. A coin-operated laundry facility is available in the basement, and the building provides ample off-street parking.
Located in West Hartford, the property is described as minutes from Blue Back Square and West Hartford Center, with nearby access to restaurants, Whole Foods, and transit.
For practical configuration, the building consists of three separate residences in a consistent unit mix, supported by on-site shared laundry and dedicated electric metering.
Located in West Hartford, the property is described as minutes from Blue Back Square and West Hartford Center, with nearby access to restaurants, Whole Foods, and transit.
For practical configuration, the building consists of three separate residences in a consistent unit mix, supported by on-site shared laundry and dedicated electric metering.
Key Highlights
- Three‑unit property built in 1898 offering three 1‑bed, 1‑bath apartments
- Hardwood floors in the units
- Separate electric meters for each unit
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
$31,482
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
7.41%
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%
$629,640
$629.6K
Cap Rate 7%
$449,743
$449.7K
Cap Rate 9%
$349,800
$349.8K
Market Conditions
NOI Build-Up for 2,144 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
$47.6K $22.20/SF
− Vacancy
−$2.6K −$1.22/SF
EGI
$45.0K $20.98/SF
− OpEx
−$13.5K −$6.29/SF
NOI
$31.5K $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%
$629,640
Cap Rate 7%
$449,743
Cap Rate 9%
$349,800
Alternative Uses
Best Use
Multifamily LT 5
$449.7K
$393.5K – $524.7K
NOI $31,482 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$413.2K
$361.6K – $482.1K
NOI $28,925 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$639.1K
$559.2K – $745.6K
NOI $44,735 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
983
Businesses Nearby
Explore this area
Business Placement
Demographics for 06119, CT
14,843
Population
7,206
Households
2.1
Avg Household Size
37
Median Age
68%
College-Educated
95%
High-School Grad
2.1 sq mi
ZIP Area
7,068
Density / Sq Mi
$105,522
Median Household Income
$63,122
Median Earnings
$1,646
Median Rent
$361,700
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 - Three 1-bedroom, 1-bath units with hardwood floors, separate electric meters, and basement coin-operated laundry.
Where is this triplex located?
The property is located at 86 Oakwood Avenue West Hartford, CT.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Three‑unit property built in 1898 offering three 1‑bed, 1‑bath apartments; Hardwood floors in the units; Separate electric meters for each unit
