14 Hillside AveHartford, CT 06106

This exceptional mixed-use property in Hartford, CT, presents a compelling value-add opportunity. Located at 14 Hillside Ave, 06106, this four-story, 6,692 square foot building boasts eight units: two ground-floor retail spaces (a remodeled liquor store and an electronics repair shop) and six two-bedroom, one-bathroom apartments above. Built in 1930 and renovated in 2020, the property sits on a 0.16-acre lot and is zoned NX-2. Currently operating at 50% occupancy, the property offers significant upside potential. The asking price is $550,000, translating to $68,750 per unit and $82.19 per square foot. The current Net Operating Income (NOI) is $60,570, yielding an 11.01% cap rate. A pro-forma NOI of $68,179 projects a 12.40% cap rate, reflecting the potential for increased rental income through unit renovations and market-rate adjustments. Utilities are separately metered and paid by tenants, minimizing landlord expenses. On-street parking and city trash pickup further reduce maintenance costs. The property's prime location, within walking distance of Trinity College, Hartford Hospital, and with easy access to highways, public transportation, shopping, and restaurants, ensures strong tenant demand. This is a rare chance to acquire a stabilized, mixed-use investment property with substantial growth potential in a desirable Hartford location.