496-516 Garden StHartford, CT 06112

This exceptional multifamily investment opportunity presents a portfolio of four buildings comprising 37 units located at 496-516 Garden St, Hartford, CT 06112. The property, totaling 32,914 square feet, offers a compelling value-add proposition with significant upside potential. Currently boasting a net operating income (NOI) of $282,094 and an 8.06% capitalization rate (cap rate), pro forma projections indicate a substantial increase to a $339,758 NOI and a 9.71% cap rate with strategic improvements and rent adjustments. The current asking price is $3,500,000, translating to a price per unit of $94,594.59. The property features off-street parking, a key advantage in a high-demand rental market. Average rents are projected to increase by $127 per unit to reach market levels. This fee-simple ownership opportunity is classified as a Class C multifamily investment, specifically a multifamily investment in condominiums. The property's prime location ensures convenient access for tenants, contributing to high occupancy rates and consistent rental income. This portfolio presents a rare chance to acquire a well-positioned asset with immediate cash flow and substantial long-term growth potential.