264 Farmington Ave - Apartments FOR SALE


Hartford, CT 06105- Asylum Hill
$1,350,000 USD
860-519-3800
264 Farmington Ave, Hartford, CT for Sale
$1,350,000 USD
Apartments - FOR SALE
1/23
null | 9% Cap Rate

264 Farmington Ave
Hartford, CT 06105
Asylum Hill


HIGHLIGHTS

  • Beautiful Brick, Mixed-Use Building
  • Near Downtown Hartford with Off-Street Parking

OVERVIEW

264 Farmington Avenue is a prominent brick asset situated on a corner lot with enough parking for all units and then some! An exclusive parking lot in the front of the building, heavy foot and car traffic, and a large tenant population in the surrounding area has helped maintain the Green Apple Grocery store as an anchor tenant for over 15 years. The second commercial unit is currently occupied by the owner as an office, but it has a full bathroom and can be outfitted for a variety of other business needs. Central heating systems, towering 9-foot tall ceilings, and spacious residential units provide ample square footage to achieve proforma rents between $1,400-$1,800 per month. Fill or occupy the office, keep the Green Apple on their current lease, and pursue an attainable lease-up strategy for the residential units and this property will demand an after repair value over $1.5M.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$105 USD /SF

# OF UNITS

10

PRICE/UNIT

$135,000

CAP RATE

9%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1928

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,694 SF

ZONING

B4

APN/PARCEL ID

HTFD-000179-000319-000048

ASK ABOUT THIS PROPERTY

Anthony VelezVC Property GroupMore Info
860-519-3800

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Anthony VelezVC Property GroupMore Info
860-519-3800

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