206-208 Hamilton St Hartford, CT 06106

Property Details for 206-208 Hamilton St

Property type

Apartment buildings

Description

This exceptional 12-unit apartment building, located at 206-208 Hamilton Street in Hartford, Connecticut's desirable Parkville neighborhood, presents a compelling investment opportunity. The property consists of eleven one-bedroom, one-bathroom units and one two-bedroom, one-bathroom unit. Recent capital expenditures exceeding $110,000 have significantly enhanced the property's value, including a new roof (2022), new hot water heaters, updated common areas, a new exterior staircase, and new windows in six of the twelve units which have been fully remodeled in the last two years. All units feature separately metered utilities, paid by tenants. The Parkville area has experienced substantial revitalization, including the development of Parkville Market and numerous infrastructure improvements, contributing to a thriving urban environment and strong rental demand. Hartford's robust rental market, with year-over-year rent growth averaging 7-9%, offers significant potential for value appreciation through rent increases to market rates. The asking price is $1,050,000, representing an attractive price per unit of $87,500. This well-maintained property offers a blend of immediate income and long-term growth potential in a rapidly developing area. The property's strong cash flow, coupled with the potential for increased rental income, makes it an ideal investment for both seasoned and emerging real estate investors. This is a rare opportunity to acquire a turnkey multifamily property in a prime location with a proven track record of success.