1963-1965 Park St - Apartments FOR SALE


Hartford, CT 06106- Parkville
$1,200,000 USD
203-314-4219
1963-1965 Park St, Hartford, CT for Sale
$1,200,000 USD
Apartments - FOR SALE
1/21
null | 7.65% Cap Rate

1963-1965 Park St
Hartford, CT 06106
Parkville


HIGHLIGHTS

  • Brick Building
  • All 1 Bed/1 Bath Units | Approx. 590 SF each
  • LL Paid H&HW + Tenant Paid Electric
  • Apartments Have Some Renovations
  • Gas Conversion & Hardwired Smoke Detectors = Completed in 2025
  • Rents Below Market = Big Upside, 9% CAP Pro-forma

OVERVIEW

Well-maintained brick apartment building offering current cash flor with significant upside potential. The property features all one-bedroom, one-bath units w/approx. 590 SF each. Units offer functional, open layouts with EIK and living rooms, along with a mix of vinyl flooring and carpet throughout. Select apartments include updated baths with tile finishes and stand-up showers. Major improvements have been completed, including conversion from oil to gas heat in 2025, installation of hardwired smoke detectors throughout (approx. $20,000 investment), and energy-efficient motion-sensor lighting in common hallways to reduce operating costs. Heat and hot water are landlord paid, while the electrical are separately metered and tenant paid. The roof is in good condition and there are many replacement windows throughout. The property includes five off-street parking spaces at the rear, currently generating additional monthly income. Rents are below market, presenting a clear value-add opportunity with a projected 9% pro-forma cap rate. Ideally located in Parkville, with close proximity to downtown, major highways, and within walking distance to restaurants, shopping, and everyday conveniences. A solid investment opportunity with solid recent upgrades and growth potential.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$169 USD /SF

# OF UNITS

12

PRICE/UNIT

$100,000

CAP RATE

7.65%

% LEASED

83%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,532 SF

ZONING

NX-2

APN/PARCEL ID

HTFD-000136-000476-000007

ASK ABOUT THIS PROPERTY

Amanda SheehanOxford RealtyMore Info
203-314-4219

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Amanda SheehanOxford RealtyMore Info
203-314-4219

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.