116-122 Hillside Ave

116-126 Hillside Ave Hartford, CT 06106

FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$649,900
Last Verified:
Feb 20, 2019

Highlights

  • 100% Tenant Occupancy
  • 12 total income units
  • Existing Long Term Commercial Tenants
  • 9.23% Cap Rate
  • Low Apartment Turnover Rates
  • 9 Off-Street Parking Spots (1 Spot Per Apartment)
  • Free On-Street Parking Also Available
  • Situated Only One Block Away From Trinity College
  • Highly Walkable
  • Easy Access to Public Transit
  • Possibilities to Increase Income Flow

Description

Two free standing mixed-use buildings for sale in the Behind the Rocks section of Hartford and only one block away from Trinity College. With 3 long term leased commercial spaces and 9 apartment units, these two buildings offer a total of 12 units which are 100% leased, offering a quick return on investment. Having Trinity College so nearby only adds to the upside of this sale and creates many possibilities to grow with the property.

Hartford is the capital city of Connecticut, and with approximately 125,000 residents is the fourth largest city in the state. Known to many as the “Insurance Capital of the World”, Hartford has companies such as Aetna, UnitedHealthcare, and The Hartford based in the city while United Technologies claims Hartford as the corporate headquarters. Other major corporations like Travelers and Lincoln Financial Group have large operations in the city of Hartford. Located between New York City and Boston, Hartford is easily accessible with two major highways, Interstate-91 and Interstate-84 running right through the city. Union Station in Hartford serves as a station for the Amtrak railway. Hartford is also home to multiple colleges such as the University of Hartford, University of Saint Joseph, University of Connecticut School of Business and School of Law, and the world-class institution of Trinity College. Hartford is an 18-square-mile city, home to 125,000 residents, world class dining, international cultural attractions, award winning entertainment venues and some of the largest corporations in the nation.


Year Built: 1920
Building Size: 10712.0sq ft
Lot Size: 0.26 acres

Map of 116-126 Hillside Ave, Hartford, CT, 06106

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.