57 Sumner St - Apartments FOR SALE


Hartford, CT 06105- Asylum Hill
$6,995,000 USD
860-977-2625
57 Sumner St, Hartford, CT for Sale
$6,995,000 USD
Apartments - FOR SALE
1/23
null | 7.58% Cap Rate

57 Sumner St
Hartford, CT 06105
Asylum Hill


HIGHLIGHTS

  • The Sumner House is an 80-unit apartment building with amenities such as balconies, onsite laundry, and ample parking via a parking garage.
  • Units feature modern finishes throughout and there is exposed brick in every unit.
  • The expansive building is 80% renovated and presents a stable and income-generating asset.
  • Nestled in the Asylum Hill neighborhood of Hartford, a area with an eclectic mix of modern apartments and historic homes.

OVERVIEW

Presenting 57 Sumner Street, an outstanding 80-unit apartment community located in the heart of Hartford’s Asylum Hill neighborhood. Built in 1970 with solid steel frame construction and concrete floor plates, this well-maintained property offers investors a rare combination of architectural character, modern amenities, and significant value-add potential. The building features a highly desirable unit mix, including 18 spacious studio apartments, 29 one-bedroom units, 32 two-bedroom units, and a unique three-bedroom, three-bathroom penthouse that serves as the property's crown jewel. Each residence highlights exposed brick interior walls, combining industrial charm and contemporary appeal. Private balconies add to the living experience, offering outdoor space for residents in an urban setting. Approximately 80% of the units have been tastefully renovated, with the remaining units providing a clear path for future upgrades and rental growth. Residents benefit from a secure parking garage and the convenience of separately metered electricity, minimizing operating expenses for ownership. 57 Sumner Street represents a compelling opportunity to acquire a stable, income-producing asset with additional upside through continued renovations and optimized management. Its strategic location, strong physical infrastructure, and modernized interiors make this a prime investment in Hartford’s multifamily market.

FOR SALE DETAILS

PRICE

$6,995,000 USD

PRICE/SF

$77 USD /SF

# OF UNITS

80

PRICE/UNIT

$87,438

CAP RATE

7.58%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sumner House

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

8

YEAR BUILT

1970

PARKING SPACES

80

LAND DETAILS

LAND ACRES

0.76 AC

LAND SF

33,106 SF

ZONING

RO2

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Steve PappasChozick Realty Inc.More Info
860-977-2625

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Steve PappasChozick Realty Inc.More Info
860-977-2625

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