133 Babcock St Hartford, CT 06106-1304

Property Details for 133 Babcock St

Lot size

0.17 lot acres

Zone code

NX-2

Property type

Apartment buildings

APN

HTFD M:203 B:422 L:112

APU

HTFDM203B422L112

Description

This exceptional investment opportunity presents a fully renovated, five-unit multifamily property located at 133 Babcock St, Hartford, CT 06106. The property consists of two buildings situated on a 0.19-acre lot, offering a compelling blend of income generation and potential for owner-occupancy. The front building is a three-family structure, featuring three 3-bedroom, 1-bathroom units, each boasting updated kitchens, hardwood flooring, modern lighting, new cabinets, remodeled bathrooms, fresh paint, new appliances, and updated heating systems. All units include laundry hookups and pantries. Utilities (gas for heat, hot water, and cooking, plus electricity) are separately metered and paid by tenants. The rear building is a large duplex, comprising a 4-bedroom unit and a 2-bedroom unit, presenting a significant opportunity to increase rental income. Utilities are also separately metered and tenant-paid. Both buildings feature asphalt shingle roofs. The property boasts five off-street parking spaces and benefits from a 100% occupancy rate, generating a current Net Operating Income (NOI) of $67,333, representing a 9.29% capitalization rate. Pro-forma NOI is projected at $84,517, yielding an 11.66% cap rate. Built in 1880 and extensively renovated in 2023, this Class D property is zoned NX-2 and offers a total of 5,500 square feet. Its prime location in Hartford's Frog Hollow neighborhood provides convenient access to downtown Hartford, Hartford Hospital, Bushnell Park, major highways, public transportation, and a variety of shops and restaurants. The asking price is $725,000, or $145,000 per unit. This is a turnkey investment with strong cash flow potential in a desirable location.