240-242 Washington St - Apartments FOR SALE


New Britain, CT 06051- New Britain/Newington/Wethersfield
$875,000 USD
203-314-4219
240-242 Washington St, New Britain, CT for Sale
$875,000 USD
Apartments - FOR SALE
1/31
null | 7.74% Cap Rate

240-242 Washington St
New Britain, CT 06051
New Britain/Newington/Wethersfield


HIGHLIGHTS

  • Little Poland Neighborhood
  • Mainly Turn Key Assets
  • 6 Units + 2 Family, 1 Parcel
  • Separate & Tenant Paid Utilities
  • Off-Street Parking
  • Rents Below Market = Upside!

OVERVIEW

Fantastic investment opportunity in Little Poland neighborhood with value add potential! 2 properties, 1 parcel. Front building is a 6 unit brick asset with 4,905 SF - all 1 bed units. Rear building is a 2 family with 1,448 SF - both 2 bed units. Both buildings offer separate and tenant paid utilities - gas heat, hot water and cooking + electric. Some renovations throughout with hardwood floors and unit renovations. Overall well maintained assets. There is also off-street parking for both buildings. Rents are way below market = BIG UPSIDE 13% ROI pro-forma. Amazing location with a short walk to Broad St and all Little Poland has to offer. Do NOT walk the property without an appt.

FOR SALE DETAILS

PRICE

$875,000 USD

PRICE/SF

$83 USD /SF

# OF UNITS

8

PRICE/UNIT

$109,375

CAP RATE

7.74%

% LEASED

85%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

8 Unit Investment in Little Poland

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1910

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,632 SF

ZONING

A2

APN/PARCEL ID

NBRI-000006C-000000-C000050

ASK ABOUT THIS PROPERTY

Amanda SheehanOxford RealtyMore Info
203-314-4219

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

Amanda SheehanOxford RealtyMore Info
203-314-4219

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