For Sale
$425,000

88 Tremont StNew Britain, CT 06051

Four-unit apartment building, 7.84% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional two-story apartment building at 88 Tremont Street in New Britain, Connecticut, presents a compelling investment opportunity. Priced at $425,000, this property boasts a strong 7.84% capitalization rate and a healthy net operating income (NOI) of $33,320. Currently operating at 100% occupancy, the building comprises four individual units, each featuring one bedroom and one bathroom. All utilities (gas, hot water, and electric) are individually metered and paid by tenants. Recent upgrades significantly enhance the property's value and appeal, including a brand new roof, updated flooring, upgraded electrical systems, replacement windows, and renovated bathrooms in select units. Residents enjoy the convenience of off-street parking. The property's strategic location provides easy access to public transportation and Interstate 84, making it an attractive option for tenants. The price per unit is $106,250, reflecting a strong value proposition in the Hartford County market. This is a turnkey investment ready for immediate cash flow. The property is situated in the 06051 zip code.

Highlights

  • Exceptional two-story, four-unit apartment building in New Britain, CT, priced at $425,000.
  • Boasts a 7.84% capitalization rate and $33,320 NOI.
  • 100% occupancy with four one-bedroom, one-bathroom units.
  • Individually metered utilities (gas, hot water, electric) paid by tenants.
  • Recent upgrades include a new roof, updated flooring, electrical systems, windows, and renovated bathrooms.
  • Offers off-street parking and convenient access to public transportation and I-84.

Property Details for 88 Tremont St

Property type
Apartment buildings
Buildings
1
Stories
2
Units
4

Location Insight

City
New Britain
County
Hartford
State
Connecticut
Latitude
41.6762188
Longitude
-72.778126
88 Tremont St, New Britain, Connecticut

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
88 Tremont St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message