6-Unit Brick Apartment
For Sale
$999,999
518 , East Hartford, CT 06108
Six occupied residences have separate utility service and natural gas.
Property Size1,920 SF
Price / SF$161.42
Days on Market13
Property Features for 518
General Information
Standard status
Active
Size
1,920 SF
Property subtype
5 Family+
Occupancy
100%
Lease Term
Listing ID: 24208741, Standard Status: Active, MLS Status: Active, Property Subtype: 5 Family+, 10 days on market
Additional Details
Utilities to Site
Yes
Multifamily Units
6
Building Details
Building Size
1,920 SF
Year Built
1920
Buildings
1
Construction
brick
Listing Agency:
Coldwell Banker Realty
(860) 644-2461
Listed By:
Nikki Defrancesco · License #RES.0776989
(203) 577-7308
Source:
Iverty
Added: Sep 23
Changed: Oct 4
Last Checked: Oct 4 at 11:08AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 6-unit apartment building at 518 Burnside Avenue is a brick property built in 1920. All six residences are occupied, and each has separate utilities with natural gas service.
The property is connected to public water and sewer and includes off-street parking. It is zoned B1 in East Hartford, Connecticut.
The property is connected to public water and sewer and includes off-street parking. It is zoned B1 in East Hartford, Connecticut.
Key Highlights
- Six apartment units; all are occupied
- Brick construction; built in 1920
- Separate utilities and natural gas service for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,579
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,671,580
$1.7M
Cap Rate 7%
$1,193,986
$1.2M
Cap Rate 9%
$928,656
$928.7K
Market Conditions
NOI Build-Up for 6,195 SF
Gross rent
$161.3K $26.04/SF
− Vacancy
−$9.4K −$1.51/SF
EGI
$152.0K $24.53/SF
− OpEx
−$68.4K −$11.04/SF
NOI
$83.6K $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%
$1,671,580
Cap Rate 7%
$1,193,986
Cap Rate 9%
$928,656
Alternative Uses
Best Use
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,579 @ 7.0% cap · market cap 8.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.85M
$1.62M – $2.15M
NOI $129,259 @ 7.0% cap · market cap 12.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
672
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Six occupied residences have separate utility service and natural gas.
Where is this apartment building located?
The property is located at 518 East Hartford, CT.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Six apartment units; all are occupied; Brick construction; built in 1920; Separate utilities and natural gas service for each unit
